abusive practices

Capital One / HSBC Credit Card Unit Acquisition

Background on Capital One Acquisition of HSBC Credit Card Unit Join the National Community Reinvestment Coalition and our members and allies across the country in requesting that the Office of the Comptroller of the Currency extend the comment period and hold hearings on the Capital One Financial Corporation’s proposal to acquire HSBC’s credit card unit. …

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Capital One / ING Direct Acquisition Fact Sheets

Background on Capital One / ING Acquisition The National Community Reinvestment Coalition (NCRC) announced that it will oppose the Capital One acquisition of ING Direct USA, citing serious concerns about the impact of the deal on consumers, communities and the economy. The deal would make Capital One the fifth largest bank in the United States. …

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Restore Housing Counseling Funds to 2012 Budget

Background on Housing Counseling With estimates showing a shadow inventory that numbers in the millions, it’s clear that the foreclosure crisis is not done wreaking havoc on the housing market. It seems that the ideal outcome for families, communities, and investors alike would include avoiding as many foreclosures as possible and keeping homes occupied. A …

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QRM | Qualified Residential Mortgages

Background on Qualified Residential Mortgages The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”) promoted responsible lending by requiring financial firms to retain 5 percent of the credit risk when they sell loans to investors. Leading up to the crisis, mortgage firms did not carefully underwrite loans and then sold loans to …

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