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Washington, DC – Today, in reaction to the U.S. Senate Banking Committee’s vote on Senator Richard Shelby's bill "The Financial Regulatory Improvement Act of 2015," NCRC President and CEO John Taylor made the following statement: “Chairman Shelby's discussion draft undermines some key provisions enacted as part of the Dodd-Frank law that ensure the safety and soundness of the nation's banking system and to extend consumer protections. It also includes a number of stealth provisions on the Government Sponsored Enterprises that limit the paths forward for the housing finance system. As an alternative, Ranking Member Brown has put forth a more measured…
Washington, DC – Today, in reaction to Senator Richard Shelby's release of a discussion draft of "The Financial Regulatory Improvement Act of 2015," NCRC President and CEO John Taylor made the following statement:"This bill is far from regulatory improvement – it in fact represents regulatory regression. It would strip away key consumer safeguards and sensible protections put in place to prevent another financial crisis.""Recently the nation faced one of the greatest economic crises in its history, with costly consequences for communities across the country. The impact of that crisis is still felt in many neighborhoods today. Dodd-Frank was put in…
Washington, DC –Today, in response to the Federal Housing Administration’s (FHA) announcement about its changes to the Distressed Asset Stabilization Program (DASP), the National Community Reinvestment Coalition’s (NCRC) Chief of Community Development Ed Gorman made the following statement: “We applaud the FHA for taking these significant steps to improve homeownership opportunities in neighborhoods hard hit by the foreclosure crisis. NCRC and its member organizations have advocated to the FHA for improving the number and quality of Neighborhood Stabilization Outcome (NSO) targeted loan pools. We’re pleased that the FHA listened to these concerns and adopted several of our key recommendations. While…
Washington, DC –Today, in reaction to the U.S. Senate's confirmation of Loretta Lynch as U.S. Attorney General, the National Community Reinvestment Coalition's (NCRC) Chief of Membership and Policy Jesse Van Tol made the following statement: “We congratulate Loretta Lynch on her confirmation as U.S. Attorney General. As her stellar record demonstrates, Ms. Lynch will be a tough defender of the issues important to our communities, including protecting voting rights from further erosion and ensuring fair access to sound financial services.” Last week, NCRC and other community groups sent a letter to Senate Majority Leader Mitch McConnell calling on him to…
Washington, DC – Today, in reaction to the Federal Housing Finance Agency’s (FHFA) announcement of small adjustments to the fees it charges lenders on loans guaranteed by the Government-Sponsored Enterprises (GSEs), the National Community Reinvestment Coalition’s (NCRC) Chief of Membership and Policy Jesse Van Tol made the following statement: “The FHFA has taken some modest steps in the right direction, but they do not go nearly far enough. We are disappointed that FHFA did not take this opportunity to substantially reduce guarantee fees. A significant reduction in guarantee fees would stimulate the housing market and help to increase access to…
Washington, DC – Today, community groups led by the National Community Reinvestment Coalition (NCRC) called upon Senate Majority Leader Mitch McConnell hold a full Senate vote on the confirmation of Loretta Lynch for U.S. Attorney General. Ms. Lynch’s wait for confirmation, presently over five months, is at historic levels, and a majority of the Senate now supports her confirmation. “Having strong leaders as regulators, and as Attorney General, is imperative for our collective well-being as a nation,” said NCRC President and CEO John Taylor. “It's eminently clear that Loretta Lynch is such a leader. She is fully qualified and would…
Washington, DC – On March 25, at the National Community Reinvestment Coalition's (NCRC) 2015 Annual Conference, NCRC presented its National Achievement Awards and honored leaders in expanding fair access to financial services. The awards ceremony featured remarks from Gustavo F. Velasquez, Assistant Secretary for Fair Housing and Equal Opportunity at the U.S. Department of Housing and Urban Development, and John Taylor, NCRC’s President and CEO. The Master of Ceremonies was Robert Dickerson, Jr., Chair of NCRC’s Board of Directors and Executive Director of the Birmingham Business Resource Center. “The annual NCRC awards dinner is a wonderful opportunity to recognize leaders…
Washington, DC – From March 25-28, the National Community Reinvestment Coalition (NCRC) will hold its annual conference, bringing together hundreds of participants and community organizations from across the nation. This year’s conference theme is “Creating a Just Economy.” This year, the conference will feature keynote speeches from Sherrod Brown, U.S. Senator for Ohio, Maxine Waters, U.S. Representative for California’s 43rd District, Maria Contreras-Sweet, Administrator of the U.S. Small Business Administration, Julián Castro, Secretary of the U.S. Department of Housing and Urban Development (HUD), Gustavo Velasquez, Assistant Secretary for Fair Housing and Equal Opportunity, HUD, Thomas Curry, Comptroller of the Currency,…
Washington, DC – Today, as U.S. Department of Housing and Urban Development Secretary Julian Castro testified before the U.S. House of Representatives Committee on Financial Services in a hearing titled “The Future of Housing in America: Oversight of the Federal Housing Administration,” NCRC President and CEO John Taylor applauded recent changes to FHA mortgage insurance premiums. “It’s clear that FHA has weathered the storm from the housing crisis, and can resume its role of creating homeownership opportunities for creditworthy families working their way up the economic ladder. Throughout its history, FHA has been instrumental in helping working families become homeowners…
Washington, DC – Today, as Federal Housing Finance Agency (FHFA) Director Mel Watt testified before the House Financial Services Committee on FHFA’s recently announced allocation of funds to the National Housing Trust Fund and Capital Magnet Fund, NCRC President and CEO John Taylor reaffirmed NCRC’s support of the decision to capitalize the funds. “NCRC is very supportive of Director Watt’s move to fund the Housing Trust Fund and Capital Magnet Fund. The Housing Trust Fund is a key tool to help address the growing crisis facing low-income renters, and FHFA is right to ensure that it is funded. This is…
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