“We know our community leaders are extremely well-informed and understand both the dangers of the proposed rule changes and also the vagueness of some of the most important details,” said Jesse Van Tol, NCRC’s CEO.
The Trump Administration’s banking regulators released a plan in December to upend the Community Reinvestment Act (CRA). Although released under the guise of being a modernization of the monumental civil rights legislation, Comptroller of the Currency Joseph Otting’s plan is a complete rewrite of the law.
Today, the National Community Reinvestment Coalition (NCRC) submitted a Freedom of Information Act (FOIA) request to the Office of the Comptroller of the Currency (OCC) for records related to the agency’s plan to revise Community Reinvestment Act (CRA) rules.
The government’s plan to change how it enforces the Community Reinvestment Ac is “fundamentally flawed” and will significantly weaken the law, according to analysis of the proposal by the National Community Reinvestment Coalition (NCRC).
Today, 516 state and national community-based organizations urged the Federal Deposit Insurance Corporation’s (FDIC) Board of Directors to not join the Office of the Comptroller of the Currency’s (OCC) notice of proposed rulemaking (NPR) for the Community Reinvestment Act (CRA).
As we get closer to proposed changes to the Community Reinvestment Act (CRA), a sober assessment of the effectiveness of various parts of CRA exams will help us react to the proposed changes.
Boldly called “The Future of the Community Reinvestment Act,” the publication has a series of articles examining retail lending, community development financing and branching of banks.
The CRASF membership works with financial institutions, state and local organizations as well as government to provide Community Reinvestment Act training and assistance, community advocacy, affordable housing, small business training and loan acquisition assistance.
Becoming a Community Development Financial Institution (CDFI) has allowed the Louisville Housing Opportunities and Micro-Enterprise Community Development Loan Fund, Inc. (LHOME), a NCRC member organization, to provide affordable housing and facilitate small business startups in low- to moderate-income (LMI) areas of the city.
Today, 520 state and national community-based groups called on the three federal bank regulatory agencies that implement the Community Reinvestment Act (CRA) to not include a one-ratio metric in the upcoming proposed CRA rule change.
Community benefits agreements (CBAs) are a way for banks to spell out, in writing, how they will satisfy CRA requirements when they merge. The agreements are between banks and community groups.
Just hours before the start of the Labor Day long weekend, the Consumer Financial Protection Bureau (CFPB) released 2018 Home Mortgage Disclosure Act (HMDA) data. It is the most complete record of mortgage lending in the United States. The data showed non-banks extended their dominance of home lending and that banks essentially dropped out of the government-backed FHA program that helps low- and moderate-income (LMI) borrowers.
Jaime Weisberg is the senior campaign analyst at the Association for Neighborhood & Housing Development (ANHD), a member organization of the National Community Reinvestment Coalition (NCRC).
With proposed changes to Community Reinvestment Act rules expected in late summer or early fall, we must remind federal regulatory agencies not to diminish the importance of home mortgage lending in CRA exams.
A coalition of housing, consumer protection and community development organizations yesterday called on the Trump administration to not undermine policies that help low- and moderate-income (LMI) people buy homes, and avoid changes that would make home-buying harder for millions.
