NCRC, FinTech Firms Issue Statement In Support Of Regulatory Stability At The Consumer Financial Protection Bureau
Five fintechs express support for the Consumer Financial Protection Bureau ahead of the CFPB’s Supreme Court case.
FinTech
Victory: Figure Bank’s Withdrawn Charter Application Shows The Uninsured National Bank Idea Is Dead
Figure Bank’s decision to give up on seeking a charter for an uninsured national bank signals that fintechs are not going to be able to evade Community Reinvestment Act obligations.
NCRC STATEMENT: Figure Bank’s Decision To Abandon Pursuit Of A Federal Banking Charter Is Good News For Communities And Consumers
Figure Bank’s application for an OCC banking charter would have helped fintech companies crack the foundations of the Community Reinvestment Act.
Fatal Flaws In Draft Crypto Regulations From House Republicans Mean Lawmakers Should Start Over
Crypto regulations proposed by House Republicans would help unscrupulous digital asset creators prey upon retail investors.
CFPB Puts Lenders & FinTechs On Notice: Their Models Must Search For Less Discriminatory Alternatives Or Face Fair Lending Non-Compliance Risk
“I worry that firms may sometimes shortchange this key component of testing,” the CFPB’s Patrice Ficklin said at the Just Economy Conference.
NCRC To Regulators: Act Now To Establish A Coherent Regulatory Regime For Digital Assets
Regulators should act expeditiously to protect consumers who hold digital assets, the National Community Reinvestment Coalition (NCRC) wrote to the Treasury Department in a comment filed Monday. “We are past the point of speculating that digital assets might end up hurting people someday. Consumers are being hurt now, so it is important that regulators act
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NCRC Statement on President Biden’s Executive Order On Cryptocurrencies and Other Digital Assets
NCRC reacts to President Joe Biden’s new Executive Order on how cryptocurrencies and other digital assets should be regulated in the future.
Dozens Of Community Groups Call On Regulators To Reject Blockchain Startup Figure’s Bank Charter Application
“Any company that wants to provide banking services has to embrace the public responsibilities that come with operating a bank,” NCRC President and CEO Jesse Van Tol said.
The $90 Billion Bill We Pay Each Year for Non-Bank Mortgage Lenders
A $90 billion premium comes out of the equity that we all pay. Higher fees make it harder for renters to become homeowners. They erode the price a seller can expect to receive for their home. This is a bill that falls disproportionately on LMI and minority families, one the reinforces the growing racial and income wealth gaps.
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Treasury questions financial inclusion for the fintech industry
Today the U.S. Department of Treasury released a roadmap for regulating financial technology, defining this administration’s policy approach towards the rapidly growing industry.
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WSJ: Who’s the Most Valuable Online Lender? After This Deal, It’s GreenSky
A new $200 million investment vaults GreenSky over Social Finance Inc. to become the most highly-valued online lender in the U.S.
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American Banker: Square to small banks: Don’t lump us in with Amazon and Facebook
Fintechs are revolutionizing the financial market, but will they also modernize 21st century community reinvestment? Earlier this fall, the National Community Reinvestment Coalition met with Square officials to find out.
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NCRC Statement on Final Revisions to CRA Q&A
Washington, DC – Today, in reaction to the bank regulatory agencies’ release of final revisions to “Interagency Questions and Answers Regarding Community Reinvestment,” NCRC President and CEO John Taylor made the following statement: “We are profoundly disappointed that the agencies have not undertaken desperately needed reforms that would update the Community Reinvestment Act (CRA) to take into account significant changes
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NCRC Testifies Before Congress on Financial Technology and Marketplace Lending
Washington, DC – Today, the National Community Reinvestment Coalition’s Director of Policy and Government Affairs Gerron Levi testified before the U.S. House of Representatives Financial Services Committee’s Subcommittee on Financial Institutions and Consumer Credit regarding financial technology (FinTech) and marketplace lending. In the testimony, NCRC detailed the opportunities and challenges of FinTech and discussed the need
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Examining the Opportunities and Challenges of Financial Technology (FinTech): The Development of Online Marketplace Lending
Examining the Opportunities and Challenges of Financial Technology (FinTech): The Development of Online Marketplace Lending(Download PDF)