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Press Releases
Washington, DC – Today, in response to the release of the Financial CHOICE Act 2.0 by the Chair of the House Financial Services Committee, Jeb Hensarling, NCRC’s President and CEO John Taylor made the following statement. “This bill is a disaster in the making. It should be called the 'The NO-CHOICE Act;' it removes people’s access to secure financial services and protections from banks that won't make loans to certain individuals or that engage in abusive practices. It is clear Chairman Hensarling still hasn’t learned the lessons of the Great Recession and is determined to weaken or strip away the safeguards…
Washington, DC – Today, in response to President Trump’s declaration of April as National Financial Capability Month, the National Community Reinvestment Coalition’s (NCRC) President and CEO John Taylor made the following statement. “Through this declaration, President Trump has announced his support of financial capability for working Americans, but actions taken by him and some members of Congress to dismantle or weaken the CFPB belie this support. The CFPB is the agency most capable of creating financial security for Americans by ensuring fairness in banking services and products. If it had been in existence 15 years ago, we could have avoided…
Washington, DC – On March 29 at the National Community Reinvestment Coalition's (NCRC) 2017 Annual Conference, “Creating a Just Economy,” NCRC presented its National Achievement Awards and honored leaders in expanding fair access to financial services. The awards ceremony featured remarks from Richard Cordray, Director of the Consumer Financial Protection Bureau, who was also an award winner, 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. “NCRC is proud to honor leaders in the field of economic justice with our…
Washington, DC – Today, community groups led by the National Community Reinvestment Coalition (NCRC) sent a letter to Mel Watt, Director of the Federal Housing Finance Agency (FHFA) and Secretary of the U.S. Department of the Treasury Steven Mnuchin expressing concerns about the declining capital buffer at the government-sponsored enterprises Fannie Mae and Freddie Mac. The letter urges the FHFA to suspend dividend payments to the Treasury Department this month and allow the Enterprises to rebuild their capital buffers to avoid a draw on the U.S. Department of the Treasury’s commitment of taxpayer funding for any non-credit related losses. The…
Washington, DC - Today, in response to the release of President Trump’s proposed budget calling for massive spending cuts that would have a devastating effect on low- and moderate-income communities and communities of color, NCRC President and CEO John Taylor made the following statement.  "Across the board, President Trump's budget does not respond to the real needs of working families and communities, and threatens to tear the fabric of American life. The drastic cuts in funding, or elimination altogether, of programs mentioned in the budget will devastate rural and urban communities alike. Notably, many of the areas that voted overwhelmingly…
Buffalo, NY – Today, in an agreement reached with the Buffalo Niagara Community Reinvestment Coalition (BNCRC), a National Community Reinvestment Coalition (NCRC) community-based coalition in the Buffalo, NY metropolitan area, Northwest Bank announced a commitment of $101.97 million for community development, including lending and investments. The agreement will take place over a five-year period, and will be carried out entirely within the Buffalo/Niagara metropolitan statistical area. Northwest’s Community Development Plan includes mortgage and small business lending, community development lending and investing, philanthropy, and financial services for low- and moderate-income communities. A summary of the plan can be found here. “This…
Washington, DC - Today, in response to the U.S. Senate’s confirmation of Dr. Ben Carson as Secretary of the U.S. Department of Housing and Urban Development, NCRC’s President and CEO John Taylor made the following statement."We congratulate Dr. Carson on his confirmation as Secretary of the U.S. Department of Housing and Urban Development (HUD). We look forward to working with him to address the many housing challenges facing communities across the country.""There is much work to be done. It is critical that he build on the agency’s work to affirmatively further fair housing, prevent homelessness, increase homeownership opportunities through the Federal…
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…
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