American Banker: OCC should improve CRA, not gut it
While much in the OCC’s initial draft raises concerns, there is an opportunity to take a good, but incomplete law and make it better.
American Banker: OCC should improve CRA, not gut it Read More »
CRA
The Atlantic: Elizabeth Warren’s ambitious fix for America’s housing crisis
Jesse Van Tol, CEO of the National Community Reinvestment Coalition, believes the bill’s reform of the CRA is essential and that banks need to be held accountable when they loan to low-income communities and communities of color.
The Atlantic: Elizabeth Warren’s ambitious fix for America’s housing crisis Read More »
Senator Warren proposes new vision for affordable housing and economic opportunity
WASHINGTON, D.C. – Today, Senator Elizabeth Warren announced a new bill tackling discriminatory lending, Community Reinvestment Act modernization, affordable homeownership and relief for families still recovering from the Great Recession. Jesse Van Tol, CEO of the National Community Reinvestment Coalition (www.ncrc.org), made the following statement: “Senator Warren is proposing a bold vision for addressing financial
Senator Warren proposes new vision for affordable housing and economic opportunity Read More »
Forecast: Banking rule changes could reduce lending in poor neighborhoods by $105 billion
WASHINGTON, D.C. – A new forecast projects that changes to the Community Reinvestment Act could reduce lending in lower-income communities up to $105 billion dollars in the next five years. The forecast by researchers at the National Community Reinvestment Coalition comes as the Trump administration considers ideas pushed by banks to change enforcement of the
NCRC analysis of the advanced notice of proposed rulemaking (ANPR)
On August 28, the Office of the Comptroller of the Currency (OCC) issued an Advance Notice of Proposed Rulemaking (ANPR) concerning the Community Reinvestment Act (CRA). The ANPR does not propose specific changes to the regulation implementing CRA. Instead, the OCC describes concepts or frameworks for changing CRA and poses several questions regarding the effectiveness
NCRC analysis of the advanced notice of proposed rulemaking (ANPR) Read More »
NCRC forecast: Weakening the Community Reinvestment Act would reduce lending by hundreds of billions of dollars
NCRC used data collected under the Community Reinvestment Act (CRA) and the Home Mortgage Disclosure Act (HMDA) for the years 2012 through 2016 to calculate the sum of loan amounts made during this period for every census tract in the United States. Building upon the work of research in academia and the Federal Reserve, we
CityLab: It’s time to rewrite fair lending rules. (Just not like this.)
“This is a case where making a better mousetrap doesn’t get around the fact that it’s a mousetrap,” says Jesse Van Tol, CEO for the National Community Reinvestment Coalition.
CityLab: It’s time to rewrite fair lending rules. (Just not like this.) Read More »
American Banker: Cheat sheet: 5 pressure points in CRA reform debate
Comptroller of the Currency Joseph Otting “has said he wants to improve CRA, and if he does so in ways that increase lending and investments to low- and moderate-income communities, we will be the first to applaud it,” Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, said in a statement.
American Banker: Cheat sheet: 5 pressure points in CRA reform debate Read More »
The New York Times: A green light for banks to start ‘redlining’ again
“To be sure, the Community Reinvestment Act, like most regulations, can be improved. We’re eager to work with the regulatory agencies, Congress, banks and the entire financial sector to modernize it,” writes Jesse Van Tol, chief executive at the National Community Reinvestment Coalition.
The New York Times: A green light for banks to start ‘redlining’ again Read More »
OCC to review Community Reinvestment Act; Changes could impact billions in loans and investments annually
WASHINGTON, D.C. – Today, The Office of the Comptroller of the Currency (OCC) released an Advanced Notice of Proposed Rulemaking to change how banks are tested for compliance with the Community Reinvestment Act (CRA). The 1977 law requires banks serve the needs of all communities in which they are chartered to do business. The OCC
The Wall Street Journal: Trump team’s rewrite of low-income lending rules falters
“We are already seeing an unusual level of discord among the regulators,” said Jesse Van Tol, chief executive of the National Community Reinvestment Coalition, a fair-lending advocacy group. “I think there is a significant risk that the whole effort will backfire, unless a more careful and consensus-driven approach is taken.”
The Wall Street Journal: Trump team’s rewrite of low-income lending rules falters Read More »
With rule changes looming, a coalition of national and local organizations urges bank regulators to modernize the Community Reinvestment Act
A group of 487 civil rights, fair lending, community, and consumer rights organizations today submitted to bank regulators a set of recommendations for strengthening the Community Reinvestment Act (CRA), a law designed to stop discrimination in mortgage and small business lending.
The importance of CRA assessment areas and bank branches
In 1977, Congress enacted the Community Reinvestment Act (CRA) and required federal bank agencies to assess the record of banks in meeting needs for credit and banking services in communities in which banks are chartered. The federal bank agencies responded by creating CRA examinations that assessed banks’ performance in geographical areas containing bank branches and
The importance of CRA assessment areas and bank branches Read More »
Principles for CRA Regulatory Reform
Reforming CRA must not become a pretext for relaxing CRA. The focus of these principles are areas we expect the federal bank agencies to consider in reforming CRA.
Principles for CRA Regulatory Reform Read More »
2017 HMDA Overview: Non-banks dominated home lending
Quicken Loans overtakes Wells Fargo as the largest loan originator.
2017 HMDA Overview: Non-banks dominated home lending Read More »