Search Results for: jason richardson

Notice of proposed rulemaking, HMDA reporting thresholds

By / / Testimony & Regulatory Comments / 28 minutes of reading

(Download) June 12, 2019 Docket No. CFPB-2019-0021 or RIN 3170-AA76 Notice of Proposed Rulemaking, HMDA Reporting Thresholds To Whom it May Concern: The undersigned organizations (158 national and local organizations) oppose the proposal of the Consumer Financial Protection Bureau (CFPB) to exempt thousands of lending institutions from reporting the Home Mortgage Disclosure Act (HMDA) data. […]

Notice of proposed rulemaking, HMDA reporting thresholds Read More »

Bank branches are still essential for small business communities

By / / Research, Views / 3 minutes of reading

Bank branches matter. Countering the overwhelming messaging from many banks and even some regulators, the National Community Reinvestment Coalition (NCRC) has published several reports over the years that detail how much branches still matter for consumers and communities, even in 2019. Just look at the number of branches that banks opened in the last year, and it is clear that they also know the value of a physical outpost in the community they want to serve.

Bank branches are still essential for small business communities Read More »

Student loan debt impacts homeownership

By / / Research, Views / 4 minutes of reading

In 2019, the total student loan debt in America is about $1.5 trillion. According to the New York Consumer Credit Panel, adults under 40 hold 65% of the total student loan debt. Although there has been much said about this figure, the income enhancement offered by a college degree still far outweighs the cost of the debt.

Student loan debt impacts homeownership Read More »

An examination of high-cost lending by banks, non-banks, credit unions

By / / Research / 4 minutes of reading

A previous NCRC analysis found that, overall, a higher percentage of banks made a higher percentage of home loans to low- and moderate-income (LMI) borrowers and communities than non-banks and credit unions. However, access to home loans is only half the battle. We also need to have information on the affordability of loans to get

An examination of high-cost lending by banks, non-banks, credit unions Read More »

Small business lending data is the iceberg in our economic ocean

By / / Views, Research / 4 minutes of reading

In September 2018, the Federal Deposit Insurance Corporation (FDIC) released the results of a survey of 1,200 banks on small business lending in America. It found that small business lending is threatened by the decline of smaller banks and the reduction of bank branches in many communities. But just as revealing was what the survey didn’t find. More information that would be essential for policy and regulatory decisions remains concealed, invisible to the public.

Small business lending data is the iceberg in our economic ocean Read More »

By 2021, big changes for interest rates could spell trouble for borrowers

By / / Views / 5 minutes of reading

By 2021, the most popular and widely-used interest-rate benchmark, the London Interbank Offered Rate (LIBOR), will no longer exist as a benchmark for the $2 trillion in outstanding loans in the United States. In its place will most likely be the Secured Overnight Financing Rate (SOFR), which is broadly considered to be more robust and realistic than LIBOR. Nearly every borrower in the country that is paying off debt that is set based on the LIBOR will be affected by this change.

By 2021, big changes for interest rates could spell trouble for borrowers Read More »

Home lending to LMI borrowers and communities by banks compared to non-banks

By / / Research / 6 minutes of reading

Introduction As the federal bank agencies consider Community Reinvestment Act (CRA) reform, data on the patterns of lending to low- and moderate-income (LMI) borrowers and neighborhoods will help inform needed changes. For example, if non-banks not covered by CRA were found to be making significantly higher percentages of loans to LMI borrowers or neighborhoods than

Home lending to LMI borrowers and communities by banks compared to non-banks Read More »

Testimony of Jesse Van Tol, CEO, National Community Reinvestment Coalition, April 9, 2019 – Consumer Protection and Financial Institutions Subcommittee

By / / Testimony & Regulatory Comments / 58 minutes of reading

The Community Reinvestment Act: Assessing the Law’s Impact on Discrimination and Redlining   Introduction: Public input and accountability are the keys to CRA’s success I thank Chairman Meeks and the members of this subcommittee for providing me the honor of testifying this morning regarding the Community Reinvestment Act’s (CRA) impact in combating discrimination and redlining.

Testimony of Jesse Van Tol, CEO, National Community Reinvestment Coalition, April 9, 2019 – Consumer Protection and Financial Institutions Subcommittee Read More »

The CFPB’s consumer complaint database tells a story about our economy we need to hear

By / / Research / 4 minutes of reading

There is a little known public database of complaints about financial institutions that is garnering a lot of criticism from some banks and regulators. Despite this criticism, highly valuable information can be gleaned from these complaints that can help banks and other financial institutions better serve their customers. In 2010, when the Dodd-Frank Wall Street

The CFPB’s consumer complaint database tells a story about our economy we need to hear Read More »

Scroll to Top

Start typing and press enter to search