Background on Capital One Acquisition of HSBC Credit Card Unit Join the National Community Reinvestment Coalition and our members and allies across the country in requesting that the Office of the Comptroller of the Currency extend the comment period and hold hearings on the Capital One Financial Corporation’s proposal to acquire HSBC’s credit card unit. […]
Capital One / HSBC Credit Card Unit Acquisition Read More »
Background on Capital One / ING Acquisition The National Community Reinvestment Coalition (NCRC) announced that it will oppose the Capital One acquisition of ING Direct USA, citing serious concerns about the impact of the deal on consumers, communities and the economy. The deal would make Capital One the fifth largest bank in the United States.
Capital One / ING Direct Acquisition Fact Sheets Read More »
Washington, DC — Today, ranking member Barney Frank of the House Financial Services Committee sent a letter to Federal Reserve Board Chairman Ben Bernanke supporting the National Community Reinvestment Coalition (NCRC) and over a dozen other civil rights and consumer organization’s call for public hearings and an extended comment period on the Capital One acquisition
Washington, DC — The undersigned national consumer, community, housing and civil rights organizations today made this statement regarding Capital One’s proposal to purchase ING Direct: “We strongly support extending the comment period on the acquisition by at least 60 days and holding public hearings in at least 5 major cities which will cover the impact of
Washington, DC — The National Community Reinvestment Coalition (NCRC) today applauded the announcement by the Obama Administration of a developing plan to put vacant and abandoned properties owned by Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA) back to productive use as affordable housing. John Taylor, President & CEO of NCRC, made this
NCRC Applauds Efforts to Develop Disposition Plan for Foreclosed Homes Read More »
Background on Capital One / ING Acquisition The National Community Reinvestment Coalition (NCRC) announced that it will oppose the Capital One acquisition of ING Direct USA, citing serious concerns about the impact of the deal on consumers, communities and the economy. The deal would make Capital One the fifth largest bank in the United States.
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Calls for Federal Reserve to Hold Public Hearings and Extend Comment Period on Capital One Acquisition of ING Direct USA Washington, DC — The National Community Reinvestment Coalition (NCRC) announced today that it will oppose the Capital One acquisition of ING Direct USA, citing serious concerns about the impact of the deal on consumers, communities
NCRC Opposes Capital One Deal Read More »
Washington, DC — President Obama is expected today to nominate the former Ohio state Attorney General Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). In 2010, the National Community Reinvestment Coalition (NCRC) gave Cordray its prestigious Henry B. Gonzalez Award for outstanding public service, noting that he was a “shining example for state
NCRC Supports Richard Cordray to Head the Consumer Financial Protection Bureau Read More »
The Impact of the Proposed Qualified Residential Mortgage Definition on Home Opportunity in America Financial institutions will be exempt from the 5 percent risk retention requirement on certain types of mortgages, known as Qualified Residential Mortgages (QRMs). QRMs contain loan terms and practices that the regulatory agencies have determined are less likely to end up
White Paper: Impact of QRM on Home Opportunity in America Read More »
Since the last review of the Home Ownership and Equity Protection Act (HOEPA) by the Federal Reserve Board, the home mortgage market has changed considerably. Subprime lending has become a dominant force, unregulated mortgage brokers now originate a large part of the mortgages, and exotic mortgages with exploding interest rates have become a common occurrence.
Anti-Predatory Lending and Sustainable Homeownership Read More »
