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Press Releases
Washington, DC – Today, in reaction to the new report from the Corporation for Enterprise Development (CFED) and the Institute for Policy Studies (IPS), “The Ever-Growing Gap: Without Change, African-American and Latino Families Won’t Match White Wealth for Centuries,” the National Community Reinvestment Coalition’s (NCRC) President and CEO John Taylor made the following statement: "The findings in 'The Ever-Growing Gap' report highlight the need for policies that promote economic fairness, and increase homeownership opportunities for communities of color. We need to ensure that the Community Reinvestment Act is expanded, modernized and better enforced, to increase investments and opportunities for wealth building…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) is pleased to announce that Jesse Van Tol has become its new Chief Operating Officer (COO). As COO, Mr. Van Tol will direct and supervise NCRC’s overall business operations. “We are thrilled that Jesse Van Tol has agreed to become COO,” said NCRC President and CEO John Taylor. “He is a passionate leader, with a strong record of producing results at NCRC. Jesse has a wealth of knowledge and experience with the organization, which I am confident will serve him well. His demonstrated commitment to low- and moderate-income communities and…
Washington, DC - Today, the National Community Reinvestment Coalition (NCRC) released an analysis of home purchase lending in St. Louis, Milwaukee, Minneapolis, and the surrounding areas. The analysis reveals racial and income disparities in mortgage lending in all three cities. 'This report clearly shows the lack of mortgage lending in low- and moderate-income neighborhoods and predominantly minority neighborhoods,' said NCRC's President and CEO John Taylor. 'Without access to responsible mortgage credit and the opportunity to become a homeowner, the ability for working people to build wealth is severely curtailed. ' 'Until our financial institutions make a full and genuine commitment that…
Friday, July 15, 2016 05:05 PM

NCRC Statement on Final Revisions to CRA Q&A

Washington, DC - Today, in reaction to the bank regulatory agencies' release of final revisions to "Interagency Questions and Answers Regarding Community Reinvestment," NCRC President and CEO John Taylor made the following statement: "We are profoundly disappointed that the agencies have not undertaken desperately needed reforms that would update the Community Reinvestment Act (CRA) to take into account significant changes to the banking industry since the last reforms over two decades ago. In 2010, the agencies held multiple public hearings on "modernization of the regulations that implement the CRA." For the hundreds of organizations and community members testifying, the clear expectation was that the agencies would update the regulation. That…
Washington, DC - Today, the National Community Reinvestment Coalition's Director of Policy and Government Affairs Gerron Levi testified before the U.S. House of Representatives Financial Services Committee's Subcommittee on Financial Institutions and Consumer Credit regarding financial technology (FinTech) and marketplace lending. In the testimony, NCRC detailed the opportunities and challenges of FinTech and discussed the need for Congress and regulators to act to ensure that predatory practices are prevented. "The rapid growth of non-bank lending – so-called marketplace lending – to small businesses raises serious concerns that Congress should address," said Gerron Levi, NCRC's Director of Policy and Government Affairs. "We…
Washington, DC - Today, following a U.S. Department of Housing and Urban Development (HUD) National Homeownership Month “Dare to Own the Dream” event, the National Community Reinvestment Coalition (NCRC) and local community groups called on the Obama Administration to protect and strengthen the affordable housing goals at Fannie Mae and Freddie Mac. NCRC President and CEO John Taylor made the following statement: “It is commendable that the Obama Administration is voicing support for access to credit and homeownership opportunities, and their support for housing counseling and fair housing is outstanding. However, their plan to eliminate Fannie Mae and Freddie Mac is…
Tuesday, June 14, 2016 12:42 PM

NCRC Grieves for Orlando Attack Victims

Washington, DC - Today, in reaction to the attack in Orlando, Florida, NCRC President and CEO John Taylor made the following statement: “When someone faces an attack as a result of their sexual orientation, their race, their color, their country of origin, their gender identity, their disability, or their religious beliefs, it is an attack on all people in a free society. It is an attack on the very principles and values that this great country stands for. We stand in solidarity with our brothers, sisters, and friends in the LGBTQ community who were targeted in this atrocity.”  “We are heartbroken…
Washington, DC – Today, the National Community Reinvestment Coalition applauded a letter from 32 Members of Congress to FHFA Director Mel Watt, and Treasury Secretary Jack Lew, urging them to ensure that Fannie Mae and Freddie Mac are adequately capitalized. NCRC members first introduced and urged Members of Congress to sign on to this letter at the 2016 NCRC Annual Conference Hill Day. NCRC President and CEO John Taylor made the following statement: "We applaud Congressman Mike Capuano for his leadership and the Representatives from across the country for bringing attention to this critical issue, and we applaud the many NCRC…
Washington, DC - Today, in response to the release of the Consumer Financial Protection Bureau’s (CFPB) proposed rule to protect consumers from abusive payday and car title loans, NCRC President and CEO John Taylor made the following statement. “We applaud the CFPB for proposing a rule that sensibly includes consideration of a borrower’s ability to repay in the provision of payday and car title loans. Very often, these high-cost loans are designed to trap consumers in a spiral of debt. The proposed rule is an important first step for putting a stop to those harmful and predatory practices.” “The CFPB should…
Washington, DC - Today, NCRC together with other consumer groups, homebuilders and small lenders sent a letter to Mel Watt, Director of the Federal Housing Finance Agency, expressing concern that the capital buffers of the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac will soon be depleted as a result of the Preferred Stock Purchase Agreements between the FHFA and the U.S. Department of Treasury. The letter calls for Watt to suspend the GSEs’ dividend payments to the Treasury Department and to establish a plan for their recapitalization.  “A complete loss of capital at Fannie and Freddie is a real…
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