Community, Consumer, and Civil Rights Groups Chart Preferred Path for OCC Regulation of Fintechs

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 […]

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NCRC Statement on the OCC Approval of OneWest-CIT Merger

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 […]

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NCRC Statement on Final QRM Rule

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

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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NCRC Supports Appointment of Richard Cordray to Head the CFPB

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 […]

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