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Press Releases
Washington, DC - Today, in response to the DC Circuit of the U.S. Court of Appeals’ decision to grant the Consumer Financial Protection Bureau’s (CFPB) petition to hear PHH Corporation vs. CFPB en banc, NCRC’s President and CEO John Taylor made the following statement. “We applaud the Court’s decision to allow the CFPB’s petition for a rehearing in the PHH case. Over the past five years of its existence, the CFPB and its director, Richard Cordray, have achieved tremendous successes in ensuring the safety and soundness and transparency in our financial system, enforcing fair lending and protecting consumers from unscrupulous financial…
Washington, DC - Today, in response to the U.S. Senate’s confirmation of Linda McMahon as Administrator of the U.S. Small Business Administration, NCRC’s President and CEO John Taylor made the following statement. “We congratulate Ms. McMahon on her confirmation as Administrator of the Small Business Association. Small businesses are the lifeblood of our economy and provide the jobs and services that hold communities together.   “Capital and credit services are vital to the success of small, women- and minority-owned businesses, but all too often they can be difficult to obtain. Ms. McMahon now has the responsibility to ensure all creditworthy small…
Washington, DC – Today, in response to the confirmation of Steve Mnuchin as Secretary of the U.S. Department of the Treasury, NCRC President and CEO John Taylor made the following statement: "As Treasury Secretary, Mr. Mnuchin will have the opportunity to shape economic policies to promote fair access to financial services for all Americans, including low- and moderate-income communities and communities of color.  "NCRC looks forward to meeting with Secretary Mnuchin to discuss how our system of finance can better serve those working their way up the economic ladder. Secretary Mnuchin can have a widespread impact on average Americans' ability…
Washington, DC – Today, in response to the U.S. Senate’s confirmation of Senator Jeff Sessions as Attorney General, NCRC’s President and CEO John Taylor made the following statement."We continue to have deep concerns about Senator Sessions' record on issues of fair housing, civil rights and hate crime prevention. Senator Sessions’ record on voting rights is also alarming. Voting rights are a fundamental cornerstone of a healthy democracy, and it is imperative that the Attorney General work to ensure that all citizens have the ability to participate in the democratic process. We need an Attorney General who will protect, follow, and…
Washington, DC - Today, in response to President Trump's issuance of executive orders on the Dodd-Frank Wall Street Reform and Consumer Protection Act and the fiduciary rule, NCRC President and CEO John Taylor made the following statement:"With the executive orders today, this administration is serving Wall Street and their worst tendencies rather than Main Street families."The executive orders to unravel Dodd-Frank and rescind the fiduciary duty rule are an affront to families and communities across the country. The Dodd-Frank Wall Street Reform and Consumer Protection Act was enacted in 2010 to put in place sensible safeguards and protections for average,…
Washington, DC - Today, in response to the implementation of a Trump Administration executive order sharply restricting travel and immigration from seven countries, the National Community Reinvestment Coalition’s (NCRC) President and CEO, John Taylor, made the following statement: “NCRC stands for an inclusive society, where no matter your nationality, creed or color, you have opportunities to prosper and become a part of our diverse and vibrant system. This executive order is directly contrary to those principles. We are deeply saddened by the impact this capricious and discriminatory action is already having on families throughout the country. This ill-advised executive order should be reversed in its entirety. If the Trump Administration…
Washington, DC - Today, in reaction to the Trump Administration's action to raise Federal Housing Administration (FHA) mortgage premiums, NCRC President and CEO John Taylor made the following statement: "This move makes mortgages more expensive for working class people. It will further dampen the housing market, where already there are many responsible creditworthy borrowers who are needlessly locked out from homeownership opportunity. Raising Federal Housing Administration (FHA) premiums throws up more barriers to economic mobility, and blocks working families from attaining the American dream."                                        …
Washington, DC - Today, as the U.S. Senate Judiciary Committee holds a confirmation hearing on the nomination of Senator Jeff Sessions to serve as U.S. Attorney General, the National Community Reinvestment Coalition’s President and CEO, John Taylor, made the following statement in opposition to the nomination:  “The key test for any nominee to serve as Attorney General is: does he or she stand for justice for all? Will he or she uphold the law fairly and inclusively? Senator Sessions' track record speaks for itself. His career has been marked by racial insensitivity and antagonism to measures to expand and enhance civil rights protections.  “NCRC is concerned…
Wednesday, December 14, 2016 12:23 PM

NCRC Statement on FHFA's Final Duty to Serve Rule

Today, in reaction to the release of the Federal Housing Finance Agency's (FHFA) final Duty to Serve rule, NCRC President and CEO John Taylor made the following statement: "The Duty to Serve framework that the FHFA has outlined is an important complement to the affordable housing goals in reaching the three underserved markets it targets — manufactured housing, rural housing and affordable housing preservation. However, it should be noted that this rule is not a substitute for the affordable housing goals and the important role they play in facilitating access to credit for low- and moderate-income communities and across the…
Washington – Today, the National Community Reinvestment Coalition (NCRC) and 20 civil rights and consumer advocacy groups sent a letter to Mel Watt, Director of the Federal Housing Finance Agency (FHFA), and Jacob Lew, Secretary of the U.S. Department of the Treasury, expressing concern about the Government Sponsored Enterprises’ (GSEs) Single Family Housing Goals performance and tighter access to the mortgage market for low- and moderate-income individuals. The letter outlines steps FHFA can take to better fulfill the GSEs’ affordable housing mandate through greater mortgage credit access for all creditworthy borrowers. "FHFA needs to address the Government Sponsored Enterprises' problematic affordable housing goal performance and their pricing,"…
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