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CFPB

LA Times: Completely unnecessary spat over CFPB leaves consumers out in the cold

By / / On Our Radar / 1 minute of reading

Los Angeles Times, Nov. 27, 2017: Completely unnecessary spat over CFPB leaves consumers out in the cold For his part, Trump tweeted over the weekend that the CFPB “has been a total disaster” that has left financial firms “devastated and unable to properly serve the public.” That, of course, is total nonsense. The CFPB has […]

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The Intercept: Wall Street Wants to Kill the Agency Protecting Americans From Financial Scams

By / / On Our Radar / 2 minutes of reading

The CFPB has emerged as that rare beast — a fast-moving agency that actually chalks up wins for average Americans. Industry’s answer has been a multimillion dollar, multi-front battle to discredit and defang the bureau, a war declared even before the enemy officially existed. Attacking the CFPB has become a growth industry in Washington. Hyperbolic, relentless, often scorchingly personal — it’s a campaign that more often than not resembles a street fight. Now the agency is vulnerable and soon to be in the hands of a Trump appointee.

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Politico: Cordray to resign from CFPB, clouding future of watchdog agency

By / / In the News / 1 minute of reading

Cordray’s departure kicks off a high-stakes scramble to secure the future of the CFPB, a powerful Washington regulator that has cheered consumers and angered businesses as well as Republicans, who have accused it of overreaching. The independent bureau is the only bank regulator not led by a Trump appointee.

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Director Cordray leaving the CFPB

By / / Press Releases / 1 minute of reading

“We must all hope now, that Congress and the President appoint somebody equal to or even better than Director Cordray. They must choose an appointee with a proven track record of commitment to protecting the interests of the people, not the industry. For the CFPB to have anybody lesser, would undermine both the spirit and intention of this agency” said John Taylor, President and CEO of NCRC.

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NCRC Testifies at CFPB Field Hearing on Small Business Lending Trends

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, National Community Reinvestment Coalition (NCRC) Senior Advisor Josh Silver testified before a Consumer Financial Protection Bureau (CFPB) field hearing regarding small business lending trends. In the testimony, NCRC detailed the difficulties that many women-, minority-owned, and very small businesses experience accessing small business lending. NCRC also discussed the benefits of the

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NCRC Statement on CFPB’s Proposed Rule on Payday and Car Title Lending

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, in response to the release of the Consumer Financial Protection Bureau’s (CFPB) proposed rule to protect consumers from abusive payday and car title loans, NCRC President and CEO John Taylor made the following statement. “We applaud the CFPB for proposing a rule that sensibly includes consideration of a borrower’s ability to repay

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NCRC Applauds Letter From 84 Members of Congress Pressing CFPB on Small Business Lending Data

By / / Press Releases / 4 minutes of reading

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded a letter sent by 84 Members of the U.S. House of Representatives, led by Representatives Donald Payne, Jr. (D-NJ) and Chris Van Hollen (D-MD), to the Consumer Financial Protection Bureau (CFPB) urging the agency to initiate rulemaking on the collection and release of small

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NCRC Applauds Senate and House Letters Pressing CFPB on Small Business Loan Data

By / / Press Releases / 4 minutes of reading

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded 19 U.S. Senators and 13 Members of the House of Representatives Financial Services Committee for sending letters to the Consumer Financial Protection Bureau (CFPB) urging the agency to initiate rulemaking on the collection and release of small business loan data. Section 1071 of the

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NCRC, National Groups Ask Senate to Press CFPB on Small Business Loan Data

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, 19 national consumer and civil rights groups led by the National Community Reinvestment Coalition (NCRC) sent letters to members of the U.S. Senate asking them to sign on to Senator Cory Booker’s letter urging the Consumer Financial Protection Bureau (CFPB) to issue rulemaking on small business loan data. Section 1071 of

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NCRC Statement on HR 3193 Vote

By / / Press Releases / 1 minute of reading

Washington, D.C. – Today, in reaction to the House of Representatives passage of HR 3193, the National Community Reinvestment Coalition’s President and CEO John Taylor made the following statement: “It is indefensible that some members of Congress are so committed to protecting banks that they would vote to badly damage the Consumer Financial Protection Bureau

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NCRC Releases Analysis of Bank Account Complaints

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, the National Community Reinvestment Coalition released an analysis of bank account complaints from the Consumer Financial Protection Bureau’s (CFPB) Consumer Complaint Database. This analysis reveals that predominantly minority communities were more likely to submit complaints about poor service related to bank accounts than predominantly white communities. For example, predominantly African-American zip

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NCRC Statement on the Release of 2012 Home Mortgage Disclosure Act Data

By / / Press Releases / 2 minutes of reading

Washington, DC – Today, in reaction to the release of 2012 Home Mortgage Disclosure Act (HMDA) data, NCRC President and CEO John Taylor made the following statement: “Today, the federal government released Home Mortgage Disclosure Act data for 2012. The data shows a recovering housing market but also illustrates the prevalence of persistent racial disparities

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