Washington, DC – Today, in reaction to the National Mortgage Settlement Monitor’s latest quarterly update, NCRC President and CEO John Taylor made the following statement:

“The latest Settlement Monitor’s update shows that many homeowners are receiving relief in the form of principal reduction, which is a very positive thing. It is good to see that the banks are stepping up in their adherence to their obligations under the settlement. At the same time, while substantial progress has been made, it’s clear that more needs to be done. More borrower relief is essential to prevent foreclosures and to help stabilize the housing market. We look forward to more principal reductions and other meaningful relief for consumers.”

“Since the evidence is conclusive that communities of color were disproportionately targeted with subprime and high cost loans, it is necessary to ensure that borrower relief under the National Mortgage Settlement is focused in the areas that were hardest hit by nefarious industry lending and servicing practices. The Independent Settlement Monitor’s office will need to release additional data that makes it clear if communities of color are in fact being served by this settlement.”

“In addition, it is past due time for the Federal Housing Finance Agency (FHFA) to allow principal reductions at the Government Sponsored Enterprises (GSEs). For this to happen, the Senate must cease its blockage of President Obama's nominees to FHFA and confirm Mel Watt as FHFA Director. The Senate must also confirm Richard Cordray so that he can continue the excellent work he has done leading the Consumer Financial Protection Bureau (CFPB). These two confirmations would accelerate the housing recovery by reducing foreclosures, and ensure a safer marketplace for consumers."

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released an analysis of home and small business lending in Washington, DC. The analysis of 2011 Home Mortgage Disclosure Act data on lending from six major banks and the lending market as a group shows racial and gender disparities in home lending.

The analysis finds that all lenders in the Washington, DC market as a group made a disproportionately low percentage of home loans to African-Americans, low- and moderate-income (LMI) borrowers and female borrowers.

“This analysis shows that lenders have some work to do to ensure that they are fairly serving creditworthy women, low- and moderate-income, and African-American borrowers in Washington, DC,” said NCRC President and CEO John Taylor. “NCRC and its member organizations stand ready to work with lending institutions to improve outreach, deliver homeownership counseling and foreclosure prevention, and increase responsible lending in the city.”

African Americans comprise 56 percent of Washington, DC’s households but all lenders in the market as a group made just 18.5 percent of their loans in Washington, DC to African Americans. All lenders in the market as a group issued a percentage of loans (22.9 percent) to LMI borrowers that was about half the percentage of the LMI share of the city’s households (40.9 percent). Female headed households were 47.9 percent of the city’s households but women received just 31.4 percent of all loans issued in the city.

See here for the full study.

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

Washington, DC – Today, the National Community Reinvestment Coalition applauded the nomination of Representative Mel Watt to lead the Federal Housing Finance Agency (FHFA).

NCRC President and CEO John Taylor made the following statement:

“Mel Watt is an excellent choice to lead the FHFA. He is well qualified and sure to be a strong leader for the agency. We urge the Senate to swiftly move to confirm him."

"With Mel Watt as FHFA Director, the President would finally have a leader in that agency who will be a member of the team and do what is best for American taxpayers and homeowners. For too long FHFA’s Acting Director, Ed DeMarco, has obstructed recovery in the housing market by refusing to allow principal reductions at the Government Sponsored Enterprises (GSEs). He must be replaced. Principal reductions at the GSEs will accelerate the rise in property values and help to stabilize the housing market.”

In August of 2012, NCRC and hundreds of community organizations sent a letter to the White House calling on President Obama to recess appoint an FHFA Director.

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

Washington, DC – Tonight, at the National Community Reinvestment Coalition's (NCRC) 2013 Annual Conference, NCRC will present its National Achievement Awards, and honor leaders in expanding fair access to financial services. The awards ceremony will be hosted by Dr. Julianne Malveaux, and will feature remarks from John Trasviña, Assistant Secretary for Fair Housing and Equal Opportunity at the U.S. Department of Housing and Urban Development.

“The NCRC awards dinner is a wonderful opportunity to recognize some of the excellent work that is being accomplished in our field,” said NCRC President and CEO John Taylor. “This year’s winners are a truly exceptional group, and we are proud to honor them for their achievements in community reinvestment, community empowerment and expanding fair and equal access to credit and capital.”

This year’s awardees are:

Dave Snyder, Legal Services Advocacy Project of Mid-Minnesota Legal Aid, for the National Community Reinvestment Award

This award recognizes the individual who through their work over the past year has best exemplified the ideals and values of the community reinvestment movement and economic justice.

Avis Holmes, Detroit Non-Profit housing Corporation, for the Senator William H. Proxmire Award

This award recognizes the individual whose life’s work exemplifies the spirit and work of Senator Proxmire’s contributions to economic mobility. Senator Proxmire was the author and lead sponsor of the Community Reinvestment Act.

California Coalition for Rural Housing, for the Representative James Leach Award

This award recognizes the most outstanding rural non-profit organization that best promotes fair and equal access to credit & capital and/or contributes the most in their community towards promoting wealth-building in traditionally underserved populations.

Woodstock Institute, for the James Rouse Award

This award recognizes the most outstanding urban non-profit organization that best promotes fair and equal access to credit & capital and/or contributes the most in their community towards promoting wealth-building in traditionally underserved populations.

Gaining Ground, for the Community Empowerment Film Award

This award honors independent filmmakers whose work focuses on economic equality, community empowerment, financial inclusion, neighborhood revitalization, and job development.

To learn more about NCRC's annual conference, visit here.

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded the Consumer Financial Protection Bureau’s (CFPB) announcement that it will regulate indirect auto lenders under the Equal Credit Opportunity Act (ECOA). Indirect auto lending is auto lending provided through dealerships from third party lenders. NCRC President and CEO John Taylor made the following statement:

“We applaud the CFPB for this announcement. Auto lending is an area where consumers have long been exposed to and victim to rampant discrimination and disparate treatment. The CFPB’s regulation of auto lending is a highly welcome development. For far too long, this realm has been largely unscrutinized by federal regulators.”

“Consumers will benefit from CFPB’s scrutiny of dealer markup and compensation policies and other practices that can be discriminatory. The fact that the CFPB will be regulating in this area is a very positive thing.”

“Yet again, the CFPB has demonstrated their attentiveness to pressing consumer issues, and shown true vigilance in working to ensure a more equitable financial marketplace for consumers. It should be clear to all that there is a new regulatory cop on the beat, looking out for the American public.”

CFPB Director Richard Cordray will give a keynote address at the National Community Reinvestment Coalition’s Annual Conference on Friday, March 22 at 8:00 a.m. NCRC’s Annual Conference is March 20-23 at the Capital Hilton Hotel in Washington, DC. This event is open to press. For more information, please contact Eric Hersey at This e-mail address is being protected from spambots. You need JavaScript enabled to view it or 202-524-4880.

Washington, DC -- On March 20-23, the National Community Reinvestment Coalition will hold its annual conference, and bring together hundreds of community organizations from across the nation. This year’s conference theme is “A Just Economy: Building Community Prosperity from the Ground Up.”

“At the 2013 NCRC annual conference, community organizations from across the nation will come together to advance a blueprint for community prosperity,” said NCRC President and CEO John Taylor.

“The housing crisis and the Great Recession have caused devastating financial damage across the country – and low- and moderate-income communities and communities of color bore the brunt of it. At our conference we come together with the goal of promoting a more just economy with fair and equal opportunity for all. We know that innovation and constructive, equitable solutions to the challenges we face must come from the concerted efforts and coordination of grassroots community members. Together, we will call upon Congress to put community interests first.”

Featured speakers at this year’s conference include: Richard Cordray, Director of the Consumer Financial Protection Bureau, Shaun Donovan, Secretary of the U.S. Department of Housing and Urban Development, Sarah Bloom Raskin, Federal Reserve Board Governor, Thomas Curry, Comptroller of the Currency, Martin Gruenberg, FDIC Chairman, Dr. Julianne Malveaux, and more.

The conference also features workshops and state-of-the-art training to give NCRC’s members and conference participants the tools to implement change in their communities. For more information visit here.

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families. 

Washington, DC – Today, the National Community Reinvestment Coalition called upon bank regulators to block Bank of Hawaii’s planned exit from American Samoa. Bank of Hawaii plans to close their two branches in American Samoa after over forty years of business, leaving no American banks and only one deposit-taking institution in the territory.

Yesterday, in a letter to the Federal Reserve Bank of San Francisco, Bank of Hawaii’s primary regulator, the National Community Reinvestment Coalition called for the Federal Reserve Bank to hold hearings on the matter and ultimately block the Bank of Hawaii from closing their branches in American Samoa, at least until a satisfactory transition plan is put in place that will ensure access to capital, credit and banking services. In the letter, NCRC called upon the regulator to hold public hearings in Hawaii and American Samoa as an initial step so that those affected by the closings can express their concerns to regulators and bank officials.

NCRC President and CEO John Taylor made the following statement:

“Bank of Hawaii holds $97 million in deposits in American Samoa. Their exit would badly curtail the availability of basic banking services and access to credit, and have a serious negative impact on the community. We urge the regulators to step in to ensure that this community is not left behind. There is absolutely no public benefit that would justify the regulators approving these closures.”

See here for the full letter.

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

Washington, DC – Today, the National Community Reinvestment Coalition applauded the U.S. Department of Housing and Urban Development’s (HUD) issuance of a rule on the “Implementation of the Fair Housing Act’s Discriminatory Effects Standard.” NCRC President and CEO John Taylor made the following statement:

“We applaud HUD for formalizing in their rulemaking that the Fair Housing Act can be violated by practices that have a disparate impact. This rule can be easily implemented by the public and private sector and is an important step to ensure equal opportunity for all. HUD should be commended for issuing a transparent rule that clearly reaffirms the established disparate impact doctrine.”

NCRC had previously called upon HUD to establish a standard that would affirm the longstanding precedent on disparate impact both in the legal system and among the regulatory agencies.

Last year at NCRC’s Annual Conference CFPB Director Richard Cordray announced that the Consumer Financial Protection Bureau (CFPB) would apply disparate impact doctrine in enforcement of the Equal Credit Opportunity Act (ECOA).

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

From March 20-23, the National Community Reinvestment Coalition will hold its 2013 Annual Conference, “A Just Economy: Building Community Prosperity from the Ground Up.” The conference will include workshops that examine the unique challenges older Americans are facing. For more information, please visit:  www.ncrc.org/conference/

About the National Community Reinvestment Coalition (NCRC): 
The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.

Washington, DC– Today, in reaction to this morning’s House Financial Services Committee hearing, “Examining the Proper Role of the Federal Housing Administration in our Mortgage Insurance Market”, NCRC President and CEO John Taylor made the following statement:

“FHA plays a critical role in the housing market, which it has served very well for many years. The fact is, FHA and Ginnie Mae weathered the worst of the housing crisis, and are still standing. It is unreasonable to expect that they would emerge totally unscathed given the enormity of the crisis, which brought down some of the largest financial institutions in the country. FHA doesn’t guarantee bad product; the product they guaranteed suffered when toxic, subprime and predatory loans brought down the whole housing market and left millions underwater.”

“FHA has already taken several steps to recapitalize its single-family insurance fund, which should put it well on the way to full financial health. The agency has excellent leadership and a prudent manager in FHA Commissioner and Assistant Secretary for Housing Carol Galante.”

“Throughout its history, FHA has been able to help those toward the bottom of the economic ladder to access homeownership and build wealth through equity. If Congressman Hensarling had his way, Congress would cut off the rungs on that ladder that have allowed so many American families to move into the middle class.”

“FHA’s immediate financial future is of course linked to the health of the housing market and the economy as a whole. The focus for Congress should be measures to boost our economy and help families facing foreclosure.”

About the National Community Reinvestment Coalition (NCRC): The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development, and vibrant communities for America's working families.