Stay-at-home orders caused large decreases in ridership for public transit around the country.
Today, the Consumer Financial Protection Bureau (CFPB) finalized data reporting thresholds under the Home Mortgage Disclosure Act (HMDA) for the nation’s financial institutions.
Proposed rule changes to the Community Reinvestment Act (CRA) could encourage the neglect of entire markets by the largest banks, a new study found.
Today, the Board of Governors of the Federal Reserve System (Federal Reserve), the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) released a joint statement providing guidance to financial institutions on how they can receive credit on their Community Reinvestment Act (CRA) activities to low- and moderate-income people and communities affected by the coronavirus.
The government’s plan to change how it enforces the Community Reinvestment Ac is “fundamentally flawed” and will significantly weaken the law, according to analysis of the proposal by the National Community Reinvestment Coalition (NCRC).
In anticipation of the reform proposals to the Community Reinvestment Act (CRA) expected this week, I am continuing the review of performance measures on CRA exams. The most recent blog looked at performance measures on the lending test. This one will scrutinize performance measures on the investment and service test.
Becoming a Community Development Financial Institution (CDFI) has allowed the Louisville Housing Opportunities and Micro-Enterprise Community Development Loan Fund, Inc. (LHOME), a NCRC member organization, to provide affordable housing and facilitate small business startups in low- to moderate-income (LMI) areas of the city.
Just hours before the start of the Labor Day long weekend, the Consumer Financial Protection Bureau (CFPB) released 2018 Home Mortgage Disclosure Act (HMDA) data. It is the most complete record of mortgage lending in the United States. The data showed non-banks extended their dominance of home lending and that banks essentially dropped out of the government-backed FHA program that helps low- and moderate-income (LMI) borrowers.
A coalition of housing, consumer protection and community development organizations yesterday called on the Trump administration to not undermine policies that help low- and moderate-income (LMI) people buy homes, and avoid changes that would make home-buying harder for millions.