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 […]

Read More

Community Reinvestment Act Q&A Document Falls Short

Washington, DC – Today, in reaction to the newly released final revisions to the Interagency Question and Answer (Q&A) document regarding the Community Reinvestment Act (CRA), the National Community Reinvestment Coalition’s (NCRC) President and CEO, John Taylor, made the following statement: “It is very disappointing that the Q&A does not address a critical issue: the […]

Read More

NCRC Applauds CFPB Announcement on Regulation of Auto Lenders Under ECOA

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded the Consumer Financial Protection Bureau’s (CFPB) announcement that it will regulate indirect auto lenders under the Equal Credit Opportunity Act (ECOA). Indirect auto lending is auto lending provided through dealerships from third party lenders. NCRC President and CEO John Taylor made the following statement: […]

Read More

AT NCRC CONFERENCE, GRASSROOTS COMMUNITY LEADERS WILL GATHER TO PUSH FOR ECONOMIC JUSTICE

Washington, DC — On March 20-23, the National Community Reinvestment Coalition will hold its annual conference, and bring together hundreds of community organizations from across the nation. This year’s conference theme is “A Just Economy: Building Community Prosperity from the Ground Up.” “At the 2013 NCRC annual conference, community organizations from across the nation will […]

Read More

NCRC Calls for Regulators to Block Bank of Hawaii’s Branch Closures in American Samoa

Washington, DC – Today, the National Community Reinvestment Coalition called upon bank regulators to block Bank of Hawaii’s planned exit from American Samoa. Bank of Hawaii plans to close their two branches in American Samoa after over forty years of business, leaving no American banks and only one deposit-taking institution in the territory. Yesterday, in […]

Read More

NCRC Statement on FHA’s 2012 Annual Financial Status Report

  Washington, DC– Today, NCRC President and CEO John Taylor made the following statement on FHA’s 2012 Annual Financial Status report: “After 78 years of the Federal Housing Administration (FHA) doing things right and performing well from a fiscal perspective, the recent news about its financial health must be seen in perspective. Without FHA, and […]

Read More

NCRC Statement on CFPB Oversight of Debt Collectors

Washington, DC – Today, in reaction to the Consumer Financial Protection Bureau’s (CFPB) newly published rule allowing the agency to regulate the debt collection industry, NCRC President and CEO John Taylor made the following statement: “The CFPB should be commended for taking steps to reign in the debt collection industry and protect consumers from unsavory […]

Read More

NCRC Applauds Passage of San Diego Responsible Banking Ordinance

  Washington, DC — Today, the National Community Reinvestment Coalition (NCRC) applauded the passage of a local responsible banking ordinance in San Diego, California. “Local governments across the nation are continuing to pass measures to induce banks to invest in our communities in a responsible way,” said NCRC President and CEO John Taylor. “This is […]

Read More

New Data Shows Continued Constricted Credit, Racial Disparities in Lending

  Washington, DC — Today, the National Community Reinvestment Coalition (NCRC) said that new data released by the Federal Financial Institutions Examination Council showed continued constriction of credit, particularly for low- and moderate income communities and communities of color, and significant disparities in lending by race. The volume of home lending was 7.1 million loans […]

Read More