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FDIC

Small business lending data is the iceberg in our economic ocean

By / / 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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With rule changes looming, a coalition of national and local organizations urges bank regulators to modernize the Community Reinvestment Act

By / / Press Releases / 2 minutes of reading

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.

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NCRC Statement on Final QRM Rule

By / / Press Releases / 1 minute of reading

Washington, DC – Today, in reaction to the adoption of a final credit risk retention rule by federal regulators, NCRC President and CEO John Taylor made the following statement: “We are pleased that regulators have aligned the definition of a Qualified Residential Mortgage with the definition of a Qualified Mortgage, and that the final rule

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NCRC Efforts Result in Important Conditions on FDIC Approval of Renasant Bank Merger

By / / Press Releases / 4 minutes of reading

Washington, DC – Today, the National Community Reinvestment Coalition reacted to the Federal Deposit Insurance Corporation (FDIC) issuing a conditional approval of a merger between the holding companies for Renasant Bank and M&F Bank. As a condition of the merger, the newly merged Renasant Bank must conduct additional marketing to small businesses and qualified home

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Following Report On Bank Pullout From Low Income Areas, NCRC Calls On Regulators To Take Action

By / / Press Releases / 2 minutes of reading

Washington, DC — In the wake of a troubling new report from SNL Financial showing major banks pulling out from low-income areas, the National Community Reinvestment Coalition (NCRC) has called for banking regulators to investigate the trend and take action. The SNL Financial report, entitled “Banks follow the money and exit lower-income areas,” finds that

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QRM | Qualified Residential Mortgages

By / / Uncategorized / 7 minutes of reading

Background on Qualified Residential Mortgages The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank”) promoted responsible lending by requiring financial firms to retain 5 percent of the credit risk when they sell loans to investors. Leading up to the crisis, mortgage firms did not carefully underwrite loans and then sold loans to

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NCRC Urges Fed To Stimulate Economy By Demanding Principal Reductions

By / / Press Releases / 4 minutes of reading

NCRC Urges Fed To Stimulate Economy By Demanding Principal Reductions On Its Loans Worth $1.1 Trillion Taylor Says Federal Government Has Power, Authority to Obtain Reductions on Majority of Mortgage Market Washington, DC – In its efforts to stimulate the economy, the Federal Reserve should demand that banks reduce the principal balances on $1.1 trillion

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