NCRC welcomes FDIC review of bank merger guidelines
Some banks and other lenders have gotten away for too long with racial discrimination and bias in lending.
CFPB
NCRC Applauds the CFPB’s Decision to Assess the Effectiveness of the HMDA Rule, But More Immediate Action is Required
The CFPB’s request for information this week is a promising first step, but the agency should complete the work to implement the Congressionally-mandated requirements for a HMDA that will shed light on lending activity in all communities and with the robust data points that the public needs to investigate financial institutions for fair lending concerns.
NCRC applauds confirmation of Rohit Chopra to lead CFPB
Rohit Chopra’s prior experience as an Associate Director and Student Loan Ombudsman at the CFPB and most recently as a Federal Trade Commissioner demonstrates his strong commitment to the CFPB’s core mission to protect American consumers from unfair, abusive or deceptive financial practices and products.
Fair lending advocates applaud CFPB’s plan to shine a light on small business lending through Section 1071 loan data collection
implementing Section 1071, the portion of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) that required the CFPB to collect and publish small business lending data.
NCRC applauds CFPB plan to collect Section 1071 small business loan data
The Consumer Financial Protection Bureau (CFPB) released a request for comment regarding its proposal to implement Section 1071, the portion of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) that required the CFPB to collect and publish small business lending data.
2020 HMDA Preliminary Analysis
HMDA is a crucial tool for the public and local leaders to monitor the mortgage market and ensure lenders are not redlining in their communities.
NCRC, Fintechs call on CFPB to clarify applying fair lending rules to artificial intelligence
A June 29, 2021, joint letter from NCRC, Affirm (NASDAQ: AFRM), Lending Club (NYSE: LC), Oportun (NASDAQ: OPRT), PayPal Holdings Inc (NASDAQ: PYPL), Square (NYSE: SQ) and Varo Bank, asked the CFPB to update its guidance on disparate impact to reinforce the Equal Credit Opportunity Act (ECOA) and Regulation B
NCRC applauds CFPB for landmark action to prevent lending discrimination based on gender identity and sexual orientation
Today, the Consumer Financial Protection Bureau (CFPB) announced that the principles from the landmark U.S. Supreme Court case Bostock v. Clayton County that provide protection against discrimination based on sexual orientation or gender identity also apply to the Equal Credit Opportunity Act (ECOA).
NCRC receives $1 million from W.K. Kellogg Foundation to support data transparency, research and private sector training to expand racial equity in small business lending
The National Community Reinvestment Coalition (NCRC) has been awarded $1 million from the W.K. Kellogg Foundation to support racial equity research and training for lenders to expand access to credit and capital for small businesses owned by people of color.
NCRC applauds the announcement of Rohit Chopra to head Consumer Financial Protection Bureau
“Rohit Chopra will be a champion for fair lending and a renewed commitment to ending abusive practices in the financial market,” said NCRC CEO Jesse Van Tol.
NCRC Initial Analysis of the CFPB SBREFA Panel Outline: A Step in the Right Direction but Improvements Sought
The CFPB’s initial proposals for the small business lending data take some steps in the right direction such as including a broad range of institutions from banks to non-bank financial technology companies that would be required to report data. However, some proposals would keep lending activity in the dark such as the proposal to not report Merchant Cash Advances, a form of credit that is higher cost and has been subject to abuses.
CFPB proposed changes to small business lending data a step in the right direction
The Consumer Financial Protection Bureau (CFPB) released yesterday an outline of proposals under consideration to collect data on lending to small businesses and help identify and address discrimination.
Joint Comment: Final Qualified Mortgage (QM) Rule Must Effectively Protect Consumers and Promote Access to Responsible Mortgage Credit
(Download) Thank you for the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB’s) qualified mortgage (QM) proposed rule. Given CFPB’s decision to end the GSE patch, we believe that a price-based approach is an appropriate and effective method to determine QM status. However, additional safeguards are necessary to ensure that the final rule …
FHFA Re-Proposed Capital Rule for the Enterprises Sign-on Letter
August 10, 2020 The Honorable Mark Calabria Director Federal Housing Finance Agency 400 7th Street, SW Washington, D.C. 20219 Hugh Frater CEO Fannie Mae Midtown Center 1100 15th Street, NW Washington, DC 20005 David Brickman CEO Freddie Mac 1551 Park Run Drive Mclean, VA 22102 Dear Director Calabria, Executives Frater and Brickman: We are writing …
FHFA Re-Proposed Capital Rule for the Enterprises Sign-on Letter Read More »
Mortgage data reveals disparities in Asian American and Pacific Islander lending
The research, from the National Community Reinvestment Coalition (NCRC), sheds new light on the experience of several groups within the AAPI community that have long accused lenders of predatory practices and discrimination.
