The following are principles of reform; if the agencies contradict or contravene these principles, we will oppose any additional regulatory changes just as we have opposed the OCC final rule. Reforming CRA must not become a pretext for relaxing CRA.
small business lending
From 2012-2018, big banks got bigger, and 8,872 local branches closed. But in most counties, small business lending was still dominated by banks with branches within the community.
The government’s flawed COVID relief program underscored the need for equity in small business financing, and for stronger enforcement of fair lending laws.
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.
The Consumer Financial Protection Bureau (CFPB) filed a settlement agreement with the U.S. District Court for the Northern District of California that outlines court-ordered deadlines for implementation of Section 1071 of the Dodd-Frank Act.
Today, the Trump Administration released its FY 2021 budget proposal, which would either eliminate or drastically reduce funding for numerous federal housing and community development programs that help lower-income families climb into the middle class.
“We know our community leaders are extremely well-informed and understand both the dangers of the proposed rule changes and also the vagueness of some of the most important details,” said Jesse Van Tol, NCRC’s CEO.
The government’s plan to change how it enforces the Community Reinvestment Ac is “fundamentally flawed” and will significantly weaken the law, according to analysis of the proposal by the National Community Reinvestment Coalition (NCRC).
Our results show a pattern of disinvestment and discouragement that contributes to the wide disparities in small business ownership for blacks and Hispanics in the U.S.
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.
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.