“Otting is the new sheriff, and in assuming that responsibility we hope that working class Americans will still be fairly served by banks and able to access financial opportunity,” said John Taylor, President and CEO of NCRC.
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Washington, DC – Today, 90 community, consumer, and civil rights groups sent a letter led by the National Community Reinvestment Coalition (NCRC) to the Office of the Comptroller of the Currency (OCC) outlining the preferred path for regulation of financial technology companies (fintechs), such as online marketplace lenders, if they are granted charters by the regulator. The groups propose […]
Washington, DC – Today, in response to the Office of the Comptroller of the Currency’s (OCC) conditional approval of the merger between OneWest Bank and CIT Bank, the National Community Reinvestment Coalition’s (NCRC) President and CEO John Taylor made the following statement: “It is a positive sign that the regulator held public hearings on this […]
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 […]
Washington, DC — Today, in reaction to the announcement of an $8.5 billion settlement between the Office of the Comptroller of the Currency (OCC), the Federal Reserve Board and ten banks, NCRC President and CEO John Taylor made the following statement: “While compensation for homeowners who have been harmed is a good thing, it is […]
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 […]
Obama Appoints Protector of the Taxpayer Interest Washington, DC — President Obama will today use his constitutional authority to recess appoint former Ohio Attorney General Richard Cordray to head the Consumer Financial Protection Bureau (CFPB). In 2010, the National Community Reinvestment Coalition (NCRC) gave Cordray its Henry B. Gonzalez Award for outstanding public service, noting that […]
Senate Blocks Qualified Nominee Washington, DC — The National Community Reinvestment Coalition (NCRC) today issued the following statement after the Senate failed to secure cloture on the nomination of Richard Cordray to head the Consumer Financial Protection Bureau. NCRC President & CEO John Taylor: “Shame on those Senators who have blocked Richard Cordray’s nomination. The […]
Washington, DC — The National Community Reinvestment Coalition today urged the Senate to confirm former Ohio Attorney General Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB). In 2010, the National Community Reinvestment Coalition (NCRC) gave Cordray its prestigious Henry B. Gonzalez Award for outstanding public service, noting that he was a “shining […]