In this session, we addressed the need to go back to the civil rights roots of CDFIs to address the persistent racial wealth gap.
NCRC Applauds Rigorous Work To Overhaul Community Reinvestment Act In Consultation With Stakeholders
(Download) The 123 undersigned organizations are pleased that the federal bank agencies will be proposing an interagency rule implementing the Community Reinvestment Act (CRA) in the near future. CRA has been instrumental in leveraging bank financing for retail lending and community development in low- and moderate-income (LMI) communities since its passage in 1977. A critical …
New York is now among a group of states, including Illinois and Massachusetts, that have recognized the need to ensure that all lenders, not just banks, make mortgages available to credit-worthy borrowers in all communities.
Not only is it feasible, it is also constitutional to add a robust consideration of race to the requirements of the Community Reinvestment Act (CRA), a new report argues. The report, from the National Community Reinvestment Coalition (NCRC) and the civil rights law firm Relman Colfax PLLC, calls on CRA regulators at the Office of …
Strengthening and expanding the reach of the Community Reinvestment Act and duties to serve throughout the financial sector has to be at the forefront of policy questions about racial equity, the racial wealth gap and expanding financial inclusion for lower income communities.
Reading the comment letters from industry and community groups regarding the Federal Reserve Board’s (board) Advanced Notice of Proposed Rulemaking on the Community Reinvestment Act (CRA), I am reminded of the childhood tale of the “Little Engine that Could,”
First Citizens Bank announced today a $16 billion community benefits plan — developed in collaboration with the National Community Reinvestment Coalition (NCRC) — that builds on its work to reinvest in low- and moderate-income (LMI) communities and neighborhoods of color.
(Download) February 2, 2021 RE: NCRC Comments on Docket ID OCC 2020–0025, Community Reinvestment Act regulations, methodology for determining thresholds on general performance standards To Whom it May Concern: The National Community Reinvestment Coalition, an association of community-based organizations dedicated to increasing lending and investing in underserved communities, opposes the Office of the Comptroller of …
“The harm caused by the Trump Administration’s unlawful evisceration of anti-redlining rules is real and urgent. We are pleased the court rejected the Trump Administration’s shameful attempt to evade accountability for gutting a crucial anti-redlining law. We will continue to press forward in our case to protect marginalized communities and return the protections of the Community Reinvestment Act from the Trump Administration’s continued unlawful grip.”