News and Events

Due to inclement weather, NCRC will be closed Monday, February 8, 2010 and will reopen on Tuesday, February 9, 2010 at 9:00 a.m.

Washington, DC – Yesterday, President Obama announced a tougher stance on financial reform. John Taylor, President & CEO of the National Community Reinvestment Coalition, made this statement:

“President Obama is to be commended for taking a tough stand with the financial industry. This is change the American people can get behind. The President has poked a hole in the bubble of denial that seems to be enveloping Washington; we need stronger financial reform measures. A banking lobbyist expressed concern today with the President’s ‘turn in tone’ but Americans are concerned with Washington’s ‘bankers know best’ mentality. It’s time for Congress to follow the President’s lead and stand up for working people, instead of taking their cues from the banks’ highly-paid lobbyists. It won’t be easy. The financial services lobby will expand its efforts to kill legislation and regulatory changes favorable to consumers. Consumer and community advocates must redouble their efforts to win meaningful financial reform.”

David Berenbaum, NCRC's Chief Program Officer, testifies before the U.S. House of Representatives House Financial Services Committee, on the subject of the Housing Fairness Act of 2009. 

Click here to read the full testimony.

NCRC Once Again Calls For Mandate on Bank Loan Modifications

Efforts to keep Americans in their homes sink, as industry lobbyists work to kill efforts to remedy the damage caused by financial crisis

Washington, DC – As Wall Street bonus season begins, the foreclosure crisis continues into its fourth year largely unabated; last year saw ten straight months of over 300,000 foreclosure filings, and a cumulative 2.8 million homes that went into foreclosure last year, according to Realty Trac. Today’s news that only 66,000 borrowers have received permanent loan modifications under the federal Home Affordable Modification Program (HAMP) confirm that the existing responses to the foreclosure crisis can not keep pace with the number of Americans losing their homes. Meanwhile, financial lobbyists continue to fight against strong measures to provide effective oversight of the financial system and mitigate the damage caused by reckless and irresponsible lending and securitization practices, even as their CEOs told the Financial Crisis Inquiry Commission on Wednesday that they support financial regulation.