CRA Archives » Page 4 of 11

NCRC’s Community Benefits Agreement Is Helping LHOME Bring Fair Lending to Louisville

By Rachel Zeeve / October 31, 2019 / Field Notes / 4 minutes of reading

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.

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Member Spotlight: Q&A with Aidza Antonio Thomas

By Alyssa Wiltse-Ahmad / September 23, 2019 / Field Notes / 3 minutes of reading

To honor our Hispanic members during Hispanic Heritage Month, we’re shining the spotlight this month on four leaders whose work embodies what it means to give everyone in our communities a chance at economic justice.

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Community groups call on regulators to issue uniform CRA regulations

By NCRC / September 9, 2019 / Press Releases / 1 minute of reading

Today, a coalition of housing, consumer protection and community development organizations called on the three federal bank regulatory agencies that govern the Community Reinvestment Act (CRA) to issue uniform CRA regulations in an anticipated Notice of Proposed Rulemaking (NPR).

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New HMDA data shows need to strengthen CRA, close loopholes, apply to more institutions

By Alyssa Wiltse-Ahmad / September 3, 2019 / Press Releases / 3 minutes of reading

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.

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Member spotlight: Q&A with ANHD’s Jaime Weisberg

By Victoria Airapetian / August 26, 2019 / Field Notes / 9 minutes of reading

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).

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Don’t diminish the importance of homeownership in CRA reform

By Josh Silver / August 6, 2019 / Views / 9 minutes of reading

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.

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Report: Bank regulators need to plug loopholes in Community Reinvestment Act exams

By NCRC / July 30, 2019 / Press Releases / 3 minutes of reading

The NCRC study, based on government exams of the nation’s 50 biggest banks, found some banks get credit for investments outside of their assessment areas (AAs) even when those banks underinvested in the areas they are supposed to serve first. Meanwhile, other banks get little or no credit outside of assessment areas.

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Why giant bank mergers like SunTrust and BB&T matter

By Jason Richardson and Bruce Mitchell PhD / July 24, 2019 / Research / 5 minutes of reading

Banks often tout the benefits of merging. The result depends on a variety of factors.

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The purpose and design of the Community Reinvestment Act (CRA): An examination of the 1977 hearings and passage of the CRA

By Josh Silver / June 14, 2019 / Testimony & Regulatory Comments / 33 minutes of reading

A version of this article appeared first in Conference of Consumer Finance Law, Quarterly Report, Vol. 72, No. 4 Introduction In 2019, the Community Reinvestment Act (CRA) will be forty-two years old.[1] Congress enacted the CRA in 1977 as a community development initiative that sought to leverage the financial resources of private sector institutions. Senator

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Small business lending data is the iceberg in our economic ocean

By Jason Richardson and Josh Silver / May 20, 2019 / Views, Research / 4 minutes of reading

In September 2018, the Federal Deposit Insurance Corporation (FDIC) released the results of a survey of 1,200 banks on small business lending in America. It found that small business lending is threatened by the decline of smaller banks and the reduction of bank branches in many communities. But just as revealing was what the survey didn’t find. More information that would be essential for policy and regulatory decisions remains concealed, invisible to the public.

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NCRC CEO testifies on BB&T/SunTrust merger

By NCRC / May 8, 2019 / Testimony & Regulatory Comments / 3 minutes of reading

Testimony of Jesse Van Tol, CEO, National Community Reinvestment Coalition, April 25, 2019, in Charlotte, North Carolina, at a hearing on the proposed BB&T/SunTrust bank merger with the Federal Reserve Board and Federal Deposit Insurance Corporation. Thank you for the opportunity to testify here today. My name is Jesse Van Tol, and I am the

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Testimony of Jesse Van Tol, CEO, National Community Reinvestment Coalition, April 9, 2019 – Consumer Protection and Financial Institutions Subcommittee

By NCRC / April 9, 2019 / Testimony & Regulatory Comments / 58 minutes of reading

The Community Reinvestment Act: Assessing the Law’s Impact on Discrimination and Redlining Introduction: Public input and accountability are the keys to CRA’s success I thank Chairman Meeks and the members of this subcommittee for providing me the honor of testifying this morning regarding the Community Reinvestment Act’s (CRA) impact in combating discrimination and redlining.

Testimony of Jesse Van Tol, CEO, National Community Reinvestment Coalition, April 9, 2019 – Consumer Protection and Financial Institutions Subcommittee Read More »

Increasing community development financing data a necessary component for CRA reform

By Josh Silver / March 25, 2019 / Policy, Views / 7 minutes of reading

Data on community development lending and investing is lacking on a census tract level, making the information incomplete and difficult to assess. However, this is not the case for home mortgage lending data and small business loan data. If the federal regulatory agencies truly want to reform CRA, the first place to start is with better data. It would be a win-win for both banks and community organizations by facilitating identification of underserved areas. It would also further CRA’s objectives of directing access to credit and capital where it is needed most.

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Facing down segregation; half-heartedly or with steely determination?

By Josh Silver / February 26, 2019 / In the News / 8 minutes of reading

The job of massive integration seems overwhelming, but the impetus to pursue diverse neighborhoods appears to be underwhelming. The national racial divide is stark. Segregation impedes overall economic prosperity since large segments of the population are poorly educated and cannot obtain high-skilled jobs. Segregation also poisons our politics by preventing communication and thus deepening conflict

Facing down segregation; half-heartedly or with steely determination? Read More »

Robust data on home lending essential to fair and equitable treatment of borrowers

By Josh Silver / January 9, 2019 / Views / 10 minutes of reading

In order for the Consumer Financial Protection Bureau (CFPB) to protect millions of consumers from unsound lending, the agency must implement the public disclosure of the enhanced Home Mortgage Disclosure Act (HMDA) data in a rigorous manner that provides comprehensive and public information about loan terms and conditions. NCRC has a mantra about the importance

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