The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) are proposing regulatory changes to the Community Reinvestment Act (CRA) that make it easier for banks to get an “Outstanding” rating while underserving people and communities with low- and moderate-incomes (LMI) that it was meant to help. Under the […]
Introduction Fintech, or “financial technology,” is an industry on the rise to assist in personal financial management and documentation in order to increase monetary security and reduce fraud and exploitation. The fintech industry utilizes specialized software and algorithms on electronic devices, such as computers and mobile phones, to detect unusual spending activity. This fairly new
ISSUE BRIEF: FinTech and Older Adults Read More »
As National Hispanic Heritage Month comes to a close, the National Community Reinvestment Coalition (NCRC) developed a Latino Racial Wealth Snapshot to reflect on the diversity, culture and socioeconomic challenges facing the nation’s largest ethnic group of color. With a total of 58.8 million (foreign-born: 36%; native-born: 62%), the Latino community ranks at 18.1% of the U.S.
Latinos, the Racial Wealth Divide and Rebuilding the American Middle Class Read More »
Defining Hispanic and Latino In census data, Hispanic is the term most often used to describe the ethnicity of the people in the United States from Spanish speaking countries. However, it is most often thought of as a person from or has ancestry in Latin America, excluding people from Spain. The term Latino, shorthand for
Racial Wealth Snapshot: Latino Americans Read More »
Executive summary The National Community Reinvestment Coalition (NCRC) analyzed recent mortgage and small business lending activity in areas that were categorized and “redlined” by the Home Owner’s Loan Corporation (HOLC) during the 1930s. HOLC examiners were sent to over 200 cities 80 years ago to determine the risk associated with neighborhoods. This information was used
Starved!: Significant Mortgage Lending Disparities Still Persist Read More »
A $90 billion premium comes out of the equity that we all pay. Higher fees make it harder for renters to become homeowners. They erode the price a seller can expect to receive for their home. This is a bill that falls disproportionately on LMI and minority families, one the reinforces the growing racial and income wealth gaps.
The $90 Billion Bill We Pay Each Year for Non-Bank Mortgage Lenders Read More »
The result of the 2010 Dodd Frank Act, the 2015 CFPB rule and the 2018 Congressional update was the expansion of ethnicity fields in HMDA datat from one possible choice to five for both the applicant and co-applicant.
NCRC’s HMDA 2018 methodology: How to calculate race and ethnicity Read More »
Better-qualified black and Hispanic testers who shopped for small business loans at Los Angeles area bank branches were treated worse than less qualified white testers, a new study found. The study, from the National Community Reinvestment Coalition (NCRC), also found steep declines in government-backed lending to black business owners between 2008 and 2016.
Disinvestment, Discouragement and Inequity In Small Business Lending Amber Lee, Fair Lending Manager, NCRCBruce Mitchell, PhD., Senior Research Analyst, NCRCAnneliese Lederer, Director of Fair Lending & Consumer Protection, NCRC In cooperation with:Jerome Williams, Rutgers University; Sterling Bone, Utah State University; Glenn Christensen, Brigham Young University Download Report Executive Summary Small businesses are vital to the
Disinvestment, Discouragement and Inequity in Small Business Lending Read More »
While overall banks fell short of non-banks in lending to minority applicants or in LMI neighborhoods, the banks in the top 25 performed about as well as the top non-bank lenders. But even among the top banks, lending to LMI borrowers fell far behind the top non-banks.
2018 HMDA overview: Banks fell further behind, non-banks dominated home lending Read More »
(Download) INTRODUCTION The Community Reinvestment Act (CRA) has leveraged trillions of dollars of loans, investments and services for low- and moderate-income (LMI) borrowers and communities. Since 1996, banks have made more than $1 trillion in community development loans, which finance affordable housing, economic development projects and community facilities for LMI communities. Likewise, banks have issued
Banks often tout the benefits of merging. The result depends on a variety of factors.
Why giant bank mergers like SunTrust and BB&T matter Read More »
Bank branches matter. Countering the overwhelming messaging from many banks and even some regulators, the National Community Reinvestment Coalition (NCRC) has published several reports over the years that detail how much branches still matter for consumers and communities, even in 2019. Just look at the number of branches that banks opened in the last year, and it is clear that they also know the value of a physical outpost in the community they want to serve.
Bank branches are still essential for small business communities Read More »
In 2019, the total student loan debt in America is about $1.5 trillion. According to the New York Consumer Credit Panel, adults under 40 hold 65% of the total student loan debt. Although there has been much said about this figure, the income enhancement offered by a college degree still far outweighs the cost of the debt.
Student loan debt impacts homeownership Read More »
A previous NCRC analysis found that, overall, a higher percentage of banks made a higher percentage of home loans to low- and moderate-income (LMI) borrowers and communities than non-banks and credit unions. However, access to home loans is only half the battle. We also need to have information on the affordability of loans to get
An examination of high-cost lending by banks, non-banks, credit unions Read More »
