A top federal bank regulator has floated no longer enforcing lending rules for the poor based on the locations of a bank’s physical branches, a change likely to be opposed by NCRC and other community groups.
The new branch locations will increase housing accessibility for low-income neighborhoods, according to Jesse Meisenhelter, spokesperson of NCRC.
Decades of banking bias have left many unfairly cut out of home ownership, local and national reports show, but one national organization is partnering with a Chattanooga grassroots nonprofit organization to combat the inequity one bank at a time.
The Federal Reserve may change decades-old rules that require banks to lend to low-income borrowers as part of a broader effort to revise a range of banking regulations, the U.S. central bank’s head of regulation and supervision said on Monday.
Bill would weaken the government’s ability to enforce fair lending requirements, making it harder to root out predatory lenders.
In a final indignity, Sen. Tim Kaine, D-Va., has offered a fair lending amendment, while acknowledging that the amendment probably wouldn’t get a vote
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), […]
Washington, DC – Today, in reaction to the release of 2013 Home Mortgage Disclosure Act (HMDA) data, NCRC President and CEO John Taylor made the following statement: “The Home Mortgage Disclosure Act data for 2013 makes it clear that there is a closing window of opportunity for low- and moderate-income communities and communities of color. […]