The coronavirus is quickly spreading across America, raising concerns that aren’t only health related. While the full economic implications of the disease are still unknown, what we do know is that the people who will face the biggest financial impacts of COVID-19 are the same people who are already financially strapped.
Today, 516 state and national community-based organizations urged the Federal Deposit Insurance Corporation’s (FDIC) Board of Directors to not join the Office of the Comptroller of the Currency’s (OCC) notice of proposed rulemaking (NPR) for the Community Reinvestment Act (CRA).
While it is clear the racial wealth divide grows sharply with age, there is very little understanding of retirement security best practices for low-wealth seniors.
Poor Old People: The Graying of Racial and Gender Wealth Inequality Read More »
Today, 520 state and national community-based groups called on the three federal bank regulatory agencies that implement the Community Reinvestment Act (CRA) to not include a one-ratio metric in the upcoming proposed CRA rule change.Â
More than 500 community-based groups send CRA reform letter to regulators Read More »
Community benefits agreements (CBAs) are a way for banks to spell out, in writing, how they will satisfy CRA requirements when they merge. The agreements are between banks and community groups.
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.
New HMDA data shows need to strengthen CRA, close loopholes, apply to more institutions Read More »
With proposed changes to Community Reinvestment Act rules expected in late summer or early fall, we must remind federal regulatory agencies not to diminish the importance of home mortgage lending in CRA exams.
Don’t diminish the importance of homeownership in CRA reform Read More »
While many economic indicators are better than they have been in years, leading to recently published reports asserting that income inequality is not as bad as we have been told, many people are working multiple jobs just to get by.
What you need to know about income inequality Read More »
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.
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Dear Chairman Frank:
First, we would like to congratulate you and thank you for your leadership in enacting financial regulatory reform that will go a long way towards leveling the playing field for consumers, increasing the safety and soundness of our financial system and helping to curb the worst abuses that caused the economic collapse. We want to thank you in particular for including enhancements to the Home Mortgage Disclosure Act and small business lending data in financial reform.
Sign-On Letter to Chairman Frank – Aug. 16, 2010 Read More »
