Submit a CRA comment to the Federal Reserve
For instructions and NCRC’s sample comment letters, please visit:
www.ncrc.org/TreasureCRA
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OCC
NCRC statement on OCC’s Proposed CRA Thresholds
Yesterday, the Office of the Comptroller of the Currency (OCC) released a proposed rule for establishing the Community Reinvestment Act (CRA) evaluation measure thresholds, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the agency’s 2020 final rule.
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Initial NCRC Analysis of OCC Proposal to Establish Thresholds for its New CRA Measures
The OCC has proposed yet another data collection effort to develop thresholds for its flawed 2020 Community Reinvestment Act final rule. This is another tacit admission by the OCC that all along it has lacked the data and factual basis for developing its flawed revisions to CRA examination performance measures. Instead of creating more consistency
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Industry and consumer groups urge OCC to extend the comment period on novel bank charter applications from Figure and Anchorage
The undersigned trade associations and organizations representing banks, credit unions and consumer interests write to share our concern with the brevity of the public comment period provided for recent novel national bank and national trust charter applications. The charters are not new, but the utilization of those existing charters by non-traditional applicants is significant.
OCC announces final rule to amend licensing procedures
Monday, the Office of the Comptroller of Currency (OCC) published a final rule amending its licensing and merger procedures that will make it more difficult for community groups to comment on bank merger applications. Jesse Van Tol, CEO of the National Community Reinvestment Coalition, made the following statement: “It appears the OCC is doubling down
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OCC grants preliminary charter application for Social Finance, Inc., despite opposition
On Tuesday, the Office of the Comptroller of the Currency (OCC) granted a conditional approval to Social Finance, Inc. to create a nationally chartered bank called SoFi Bank despite opposition from national community groups, including the National Community Reinvestment Coalition (NCRC).
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OCC’s new True Lender rule opens the door to more abusive lending
In a final rule issued Tuesday, the Office of the Comptroller of the Currency sanctioned high-cost lending arrangements between state-licensed non-banks and national banks. As a result, payday lenders and others charging triple-digit interest rates will be able to conduct business in states where high-cost lending is prohibited by state law.
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NCRC Initial Analysis of Federal Reserve’s ANPR on the Community Reinvestment Act: A Step Forward but Needs to be More Rigorous
The Federal Reserve Board has issued an Advance Notice of Proposed Rulemaking (ANPR) on the Community Reinvestment Act (CRA). The ANPR proposes to build upon the existing CRA exam structure of separate tests for retail and community development activity.
NCRC Short Summary of Federal Reserve Board Advanced Notice of Proposed Rulemaking on the Community Reinvestment Act
On September 21, the Federal Reserve Board approved an Advance Notice of Proposed Rulemaking (ANPR) on the Community Reinvestment Act (CRA). As an ANPR, this document is not a proposed change to the Federal Reserve’s CRA regulations. However, it offers details about a rule change the Federal Reserve (Fed) is contemplating
Community Reinvestment Groups Press Lawsuit Against Trump Admin for Dismantling Anti-Redlining Rules
Late Monday, the National Community Reinvestment Coalition (NCRC) and the California Reinvestment Coalition (CRC), represented by Democracy Forward and Farella Braun + Martel, responded to the Office of the Comptroller of the Currency’s (OCC) attempt to dismiss their suit challenging its dismantling of anti-redlining rules put in place to enforce the Community Reinvestment Act (CRA).
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.
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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.
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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.
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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.
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