NCRC Comment Letter on Proposed Changes to Interagency Questions and Answers on the Community Reinvestment Act
Comment Letter on Proposed Changes to Interagency Questions and Answers on the Community Reinvestment Act.
Community Reinvestment Act
Summary: Proposed Changes to CRA Q&A
NCRC CRA Q&A Issue Brief. The Office of the Comptroller of the Currency, the Federal Reserve Board, and the Federal Deposit Insurance Corporation (the “Agencies”) recently released a proposed update to the Community Reinvestment Act Q&A. The Agencies regularly review examination policies, procedures, and guidance to better serve the goals of CRA. Following the publication
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NCRC Applauds Midland States Bank’s $16.6 Million Commitment to Low- and Moderate-Income Communities and Communities of Color
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded a $16.6 million commitment from Midland States Bank of Effingham, Illinois to low- and moderate-income and minority communities in its footprint. In a conciliation agreement with the St. Louis Equal Housing Opportunity Council brokered by the U.S. Department of Housing and Urban Development (HUD),
NCRC Releases Report on Capital and Credit Access for Small Businesses in the Appalachian Region
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released a report entitled “Access to Capital and Credit in Appalachia and the Impact of the Financial Crisis and Recession on Commercial Lending and Finance in the Region.” The report, which was commissioned by the Appalachian Regional Commission, and authored by NCRC and Woodstock Institute,
Community Reinvestment Act Q&A Document Falls Short
Washington, DC – Today, in reaction to the newly released final revisions to the Interagency Question and Answer (Q&A) document regarding the Community Reinvestment Act (CRA), the National Community Reinvestment Coalition’s (NCRC) President and CEO, John Taylor, made the following statement: “It is very disappointing that the Q&A does not address a critical issue: the
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John Taylor: Foreclosures Are the Mortal Enemy to Economic Recovery
By: Lori Ann LaRocco CNBC Sr. Talent Producer Published: Monday, 29 Nov 2010 | 10:17 AM ET The foreclosure crisis still divides us into two camps. There are those who believe that foreclosing rapidly on homes subject to defaulted mortgages is vital to clearing the market. Others believe we should do everything we can
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Neighborhood Planning & Investment Services
NCRC recently launched a Neighborhood Planning and Investment Services (NPIS) through which NCRC will continue to pull from national best practices in community stabilization and reinvestment to develop innovative and practical solutions to the country’s housing and community development challenges. NCRC’s Neighborhood Planning and Investment Services explicitly focuses on: Comprehensive projects that combine the best
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Improving HMDA Data can be the Answer to Averting another Foreclosure Epidemic
Washington, DC–On Friday, September 24th, NCRC will testify before Federal Reserve Board on making critical improvements to HMDA data, so that lenders can be held accountable for the types of loans they are issuing to communities.
“We are in an era of some of the most complicated mortgage products to-date and given the strain that bad mortgage loans have put on our economy, lenders should be examined with a microscope now more than ever. In the era of reckless and corrupt lending, it is crucial that HMDA actually does what it was enacted to do, which is identify discriminatory lending patterns and determine if financial institutions are meeting local housing needs,” said John Taylor, president and CEO of NCRC, in reaction to the Federal Reserve’s 2009 HMDA data report.
The recently enacted Dodd-Frank bill mandates significant improvements to HMDA data. NCRC calls upon the Federal Reserve Board and the new Consumer Financial Protection Bureau to expeditiously implement these improvements. In today’s release, the Federal Reserve Board states that the current HMDA data lacks information on credit scores, property values, and other factors necessary to fully account for disparities in racial access to affordable loans.
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NCRC Releases Safe & Sound Lending in Neighborhoods Study (Sept 2010)
Community Reinvestment Act Mitigates Damage to Communities Caused by Financial Crisis A new study by the National Community Reinvestment Coalition finds that Community Reinvestment Act (CRA) regulated lenders avoided significant decreases in lending accompanied by the current foreclosure crisis and severe recession. The study compared home and small businesses lending and bank branching in two
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Sign-On Letter to Chairman Frank – Aug. 16, 2010
Dear Chairman Frank:
First, we would like to congratulate you and thank you for your leadership in enacting financial regulatory reform that will go a long way towards leveling the playing field for consumers, increasing the safety and soundness of our financial system and helping to curb the worst abuses that caused the economic collapse. We want to thank you in particular for including enhancements to the Home Mortgage Disclosure Act and small business lending data in financial reform.
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Congressman Luis Gutierrez Remarks – July 30, 2010
Congressman Luis Gutierrez (D-IL) has issued this video call to action, calling on his colleagues to support our efforts to strengthen and expand the Community Reinvestment Act. We’re working with the Congressman and his colleagues to move legislation expanding and strengthening CRA in the coming months, and we thank him for his leadership on this
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Community Organizations Weigh in on the Community Reinvestment Act
Hundreds of NCRC members expected to comment and testify before bank regulators this summer Atlanta, GA – Today, eight members of the National Community Reinvestment Coalition testified before the bank regulatory agencies regarding ways to improve the Community Reinvestment Act (CRA) to leverage hundreds of billions of dollars more in private investments for job creation
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