Principles for CRA Reform: Strengthen Exams for Banks
The agencies should not undermine the effectiveness of CRA by designing new exams that do not effectively hold banks accountable for meeting credit needs of local communities.
OCC
The Spirit and Color of CRA: Greater Emphasis on Communities of Color in the Community Reinvestment Act
NCRC continues to advocate for the inclusion of people and communities of color on CRA exams to address continued racial discrepancies in lending.
NCRC, Two Other Advocacy Groups, File Joint Amicus Brief in Lacewell v. OCC
Last week, the National Community Reinvestment Coalition (NCRC) joined with the Center for Responsible Lending (CRL) and the National Consumer Law Center (NCLC) to file an amicus brief in the Office of Comptroller of the Currency (OCC)’s appeal in Lacewell v. OCC in the federal Second Circuit Court of Appeals.
Amicus Brief Opposes OCC Charter That Would Aid Predatory Lenders
The Center for Responsible Lending, National Consumer Law Center, and National Community Reinvestment Coalition filed an amicus brief today in Lacewell v. Office of the Comptroller of the Currency (OCC), in support of the plaintiff, the New York State Department of Financial Services (DFS), against the OCC’s plan to issue “special purpose national bank” charters to nonbank lenders.
NCRC Dismayed by OCC’s Intention to Establish a True Lender Standard
Today, the Office of the Comptroller of the Currency (OCC) announced a proposed rule on the true lender doctrine. Under the proposal, a bank is considered to be the “true lender” if it is named as the lender or if it funds the loan.
Federal Regulators Should Refrain From Making a True Lender Rule
In the coming weeks, we expect the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to propose a rule for the “true lender” doctrine, an act that will have a negative impact on the ability of states to protect their residents from high-cost lending.
A new approach to bank ratings would generate billions more for neighborhoods reeling from the pandemic
This white paper describes NCRC’s suggested rating system and discusses our forecasts of increased dollars for LMI neighborhoods.
The OCC’s new emphasis on essential infrastructure will divert banks from low- and moderate-income neighborhoods
The poorly conceived addition of infrastructure as eligible community development will at best be under-utilized and at worst a giant sucking sound draining resources from LMI neighborhoods and even threatening some of them with physical destruction.
OCC cracks open a debt trapdoor
In the middle of a worldwide pandemic and national crisis, the Office of the Comptroller of the Currency (OCC) has taken steps that could undermine the ability of states to protect their residents from the perils of high-cost loans.
OCC Announces Final CRA Rule Changes, Moves Alone, Without FDIC or Federal Reserve
The Office of the Comptroller of the Currency (OCC) announced long-anticipated changes to rules that enforce the Community Reinvestment Act (CRA). The Federal Deposit Insurance Corporation (FDIC) had previously joined the OCC in the rule-making effort, but it did not join in the final rule released today.
OCC, FDIC Makes Prudent Choice With Extension of CRA Comment Period
“Although the OCC and FDIC did not extend the comment period the additional 60 days that NCRC, our members and members of Congress called for several weeks ago, the agencies still made a prudent choice with a 30-day extension,” said Jesse Van Tol, NCRC CEO.
NCRC’s Policy Director Testifies Before House on Disastrous CRA Reform Proposal
The Trump Administration’s banking regulators released a plan in December to upend the Community Reinvestment Act (CRA). Although released under the guise of being a modernization of the monumental civil rights legislation, Comptroller of the Currency Joseph Otting’s plan is a complete rewrite of the law.
Diverse coalition issues joint statement on proposed changes to Community Reinvestment Act
10 national civil rights and economic justice leaders, including NCRC, issue a strong statement against the government’s plan to weaken the Community Reinvestment Act
Local Resolutions: One Tool in Supporting Appropriate CRA Reform
Though the debate regarding the future of the CRA is with the federal regulators, we should not, and cannot, forget the role of our local communities and local governments, as they have the most to lose from potential changes to this vital law.
Analysis of public comments on the Community Reinvestment Act
Banks want more certainty and easier exams, but points of consensus emerge.
