Press Releases
Washington, DC – Today, a coalition of community groups led by the National Community Reinvestment Coalition (NCRC) came together to oppose the proposed merger between New Jersey-based Valley National Bank and Florida-based 1st United Bank. In a letter to the Office of the Comptroller of the Currency (OCC), which is evaluating the proposed merger, the groups asserted that the merger would not create clear public benefits in the form of responsible lending and investment in the community, as required by the law. The merger would create a bank with over $18 billion in assets and more than 230 branches in…
Washington, D.C. – Today, in reaction to the U.S. Senate's confirmation of Julián Castro as Secretary of the Department of Housing and Urban Development (HUD), the National Community Reinvestment Coalition's (NCRC) President and CEO John Taylor made the following statement:  "We congratulate Secretary Castro on his confirmation as HUD Secretary. We welcome his leadership and look forward to working in partnership with him to increase access to affordable housing and create vibrant, healthy communities."  In May, NCRC applauded Julián Castro's nomination to serve as Secretary of HUD and called for his swift confirmation. ###   About the National Community Reinvestment Coalition…
Washington, D.C. – Today, in response to President Obama's nomination of San Antonio Mayor Julián Castro as the next Secretary of the Department of Housing and Urban Development (HUD) NCRC President and CEO John Taylor made the following statement:  "We applaud President Obama for his nomination of Mayor Julián Castro to serve as the next Secretary of HUD and support his swift confirmation. Mayor Castro's experience and strong commitment to neighborhood revitalization and community development will be critical to the recovery of communities still reeling from the housing crisis. We welcome his leadership and look forward to working in partnership with…
Washington, D.C. – Today, the National Community Reinvestment Coalition (NCRC) and other leading national organizations sent a letter to Senate Majority Leader Harry Reid calling on him not to give the current Johnson-Crapo housing finance reform legislation a floor vote in the Senate. The letter outlines the groups' concerns with the bill and warns of the negative impact for first-time buyers and minority, working-class, and rural families if the bill were to become law.  The full letter text and list of signatories is below. NCRC's statement on the Senate Banking Committee's vote on the Johnson-Crapo housing finance reform legislation can be…
Washington, D.C. – Today, in response to the U.S. Senate Banking Committee's vote on the Johnson-Crapo housing finance reform legislation, the National Community Reinvestment Coalition's (NCRC) President and CEO John Taylor made the following statement: "The deeply divided committee vote is a clear signal that this bill is dead in the water, and with good reason. Significant changes are needed before it could provide the access to affordable credit guaranteed by Fannie Mae and Freddie Mac. If this bill became law in its current form, it would be a giant step backward for the working class, people of color, Millennials, and…
Washington, D.C. – Today, in response to Federal Housing Finance Agency Director Mel Watt's speech revealing his plans for the future of Fannie Mae and Freddie Mac, including clarifying the rules that require banks to buy back faulty home loans and the entities' underwriting requirements, the National Community Reinvestment Coalition's (NCRC) President and CEO John Taylor made the following statement: "We are encouraged that Director Watt recognizes the pivotal role Fannie Mae and Freddie Mac play in making credit available for working families and communities of color. Members of the Senate Banking Committee should take note of his plans as they…
Washington, D.C. – Today, the National Community Reinvestment Coalition (NCRC) released a white paper on age-friendly banking titled "Empowering Financial Service Providers to Help: Ways the Bank Secrecy Act Can Play a Stronger Role in Detecting and Preventing the Financial Crimes that Exploit Older Adults." The white paper presents recommendations for actions that law enforcement and federal regulators, such as the Financial Crimes Enforcement Network, can take through existing law to protect older adults from financial fraud. It also suggests training guidelines for financial service providers to better identify and report suspicious financial activities. "As a society, we owe it to…
Washington, D.C. – Today, the National Community Reinvestment Coalition (NCRC) and American Advisors Group (AAG), the largest reverse mortgage lender in the country, announced a collaboration to focus on fair lending to older adults. NCRC will serve in an advisory role to assist AAG with providing Home Equity Conversion Mortgages (HECMs) to qualified borrowers age 62 and older. “NCRC looks forward to working with AAG to ensure older adults have fair access to reverse mortgage products,” said NCRC President and CEO John Taylor. “Our hope is that in the future, other reverse mortgage lenders will look to AAG as a…
Washington, DC - Today, hundreds of members of the National Community Reinvestment Coalition (NCRC) across the country and other community groups sent a letter to Senate Banking Committee Chairman Tim Johnson and Ranking Member Mike Crapo outlining their concerns with the access provisions in the Johnson-Crapo housing finance reform legislation. The letter, which was signed by over 300 groups, calls on legislators to ensure that reforms to the housing finance system support access to mortgage credit for all creditworthy borrowers, and affordable rental housing. The legislation is slated to be marked up by the Senate Banking Committee on April 29. "We…
Washington, DC - Today, in reaction to the release of a draft housing finance reform bill by Senate Committee on Banking, Housing, and Urban Affairs Chairman Tim Johnson and Ranking Member Mike Crapo, NCRC President and CEO John Taylor made the following statement:"While we are encouraged that the Johnson-Crapo draft incorporates elements of a proposal put forth by NCRC, and addresses some of the shortcomings in Corker-Warner, the details of the draft text still raise serious concerns. It is critical that housing finance reform ensures access for all creditworthy borrowers, regardless of their income level, geographical location, or race. In…
Page 1 of 18