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Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released “Small Business Lending Deserts and Oases,” a breakthrough report on small business lending trends in the United States and disparities in access to credit for small businesses. This is one of the first reports to comprehensively map small business lending “deserts” and small business lending “oases” in the United States. The NCRC report reveals a significant national decline in small business lending. ”Small Business Lending Deserts and Oases” analyzes data on private-sector and federally supported lending practices to determine the locations of “lending deserts” and “lending oases.” It also…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) and Urban Financial of America, LLC (UFA), one of the largest reverse mortgage lenders in the country, announced a collaboration to focus on fair lending to older adults. NCRC will serve in an advisory role to assist UFA with providing Home Equity Conversion Mortgages (HECMs) to qualified borrowers age 62 and older. "NCRC looks forward to working with UFA 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…
Washington, DC – On Monday, September 8 the National Community Reinvestment Coalition (NCRC) will host a statewide summit in Cleveland on community reinvestment and neighborhood revitalization in Ohio. The Ohio Reinvestment Summit will feature a keynote address by U.S. Senator Sherrod Brown and include seminars and workshops on community reinvestment, foreclosure prevention, economic revitalization, community development, small business lending, affordable housing, economic security for older adults, and housing and job strategies for low-income neighborhoods. "NCRC has heard from many of our members across Ohio about the wave of disinvestment that is affecting the state's communities," said NCRC President and CEO John…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) released “Recommendations to the Consumer Financial Protection Bureau for Implementing Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010,” a white paper presenting recommendations on the collection and public availability of small business loan data from financial institutions. “The collection and public reporting of small business lending data was mandated by Dodd-Frank to shine a light on lending activity and inactivity when it comes to serving women-owned, minority-owned and small businesses,” said NCRC President and CEO John Taylor. “It is absolutely critical that the CFPB…
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…
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