NCRC’s CEO Jesse Van Tol said the organizations “have been left with no choice but to file suit against the OCC to protect our most vulnerable and underserved communities.”
Law360: Advocates Sue Over Community Lending Rules Overhaul Read More »
“COVID-19 struck a nation that was already mostly struggling,” said Jesse Van Tol, CEO of NCRC. “Recovery in most places will be even more challenging than in those where investment was already concentrated. There is no doubt that the protests that have erupted nationwide are at least in part motivated by the nation’s long history of racial economic inequality.”
“This agreement with First Merchants Bank is a significant step forward and reflects practices that all banks can adopt in order to address the racial wealth divide,” Dedrick Asante-Muhammad, the coalition’s chief of race, wealth and community, said in the announcement.
Greater Fort Wayne Business Weekly: First Merchants to enter underserved markets Read More »
The National Community Reinvestment Coalition and the California Reinvestment Coalition said the May 20 rule was rushed through during the coronavirus pandemic and violates the Administrative Procedure Act. Two other regulators, the Federal Deposit Insurance Corp. and the Federal Reserve, didn’t sign onto the OCC’s regulation.
Bloomberg Law: Community Groups Ask Court to Stop Anti-Redlining Rewrite Read More »
What’s more, a National Community Reinvestment Coalition study found that banks outperformed credit unions on 65% of fair lending indicators in home purchase, refinance and home improvement lending to low- and moderate-income areas.
ICBA: Community Banks Respond to Americans’ Needs Read More »
Gentrification is changing the Miami metro more rapidly than in most other U.S. regions, according to a recent study by the National Community Reinvestment Coalition.
Miami Herald: Miami metro among most ‘intensely gentrified’ in U.S., study says Read More »
“COVID-19 struck a nation that was already mostly struggling,” the authors wrote. “Recovery in most places will be even more challenging than in those where investment was already concentrated. Unless we act now.”
U.S. News: Report: San Francisco Is the Most Gentrified U.S. City Read More »
The COVID-19 pandemic has called for a recent expansion of telemedicine, demonstrating the benefits of remote care. It has also highlighted the disparities in healthcare that many vulnerable groups already face.
The expansion of telemedicine underscores existing disparities in healthcare access Read More »
Today, the Federal Housing Finance Agency (FHFA) published a proposed rulemaking that creates a new regulatory capital framework for Fannie Mae and Freddie Mac, known together as the government-sponsored enterprises (GSEs).
FHFA proposes new regulatory capital framework for GSEs Read More »
The Consumer Financial Protection Bureau (CFPB) released the 2019 Home Mortgage Disclosure Act (HMDA) data on June 24, 2020, detailing mortgage lending information from nearly all lenders in the United States. HMDA offers details on 9.3 million originations resulting from over 17.5 million applications.
Preliminary Analysis of 2019 HMDA Mortgage Lending Data Read More »
Today, the House of Representatives voted to pass H.J. Res 90, which disapproves of the Office of the Comptroller of the Currency’s (OCC’s) new Community Reinvestment Act (CRA) rules. If the resolution is passed into law, it would make the CRA final rule null and void.
NCRC applauds House passage of resolution to save anti-redlining law Read More »
Today, the Supreme Court ruled that the Consumer Financial Protection Bureau’s (CFPB) structure is unconstitutional. The ruling ended what was supposed to be the director’s total independence from the president, by giving the president the authority to fire the director at will.
NCRC statement on Supreme Court Consumer Financial Protection Bureau ruling Read More »
Same-sex couples paid higher interest rates and closing fees on home loans, a new analysis found.
Mortgage data reveals disparities in same-sex lending Read More »
“If we had the data prior to this moment … we might have understood the vulnerable position many small businesses are in,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition advocacy group.
More than 50 years after the Fair Housing Act of 1968 outlawed housing discrimination on the basis of race, sex, national origin and religion, segregation persists. According to the advocacy group National Community Reinvestment Coalition of Washington, D.C., nearly three quarters of the neighborhoods designated as high risk are inhabited by the poor. And 64% are minority neighborhoods.
Northwest Herald: Begalka: Yerkes Observatory example of positive public involvement Read More »
