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Washington, DC – First Financial Corp., a regional bank headquartered in Cincinnati, Ohio, has committed $1.75 billion to a Community Development Plan negotiated with the National Community Reinvestment Coalition and a coalition of community organizations in Ohio, Indiana and Kentucky. The plan, beginning in 2018, includes mortgage and small business lending in low- and moderate-income communities, community development lending and investments, philanthropy, and increasing access to financial services in communities of color and through eight new branch locations in low and moderate-income neighborhoods. "As we celebrate the fortieth anniversary of the Community Reinvestment Act, I am thrilled to see this…
Dear Friends, Members, I grew up in Boston in the 1960’s, in public housing, across the street from a full-service bank branch. The bank was critical to the neighborhood until bank executives in downtown-Boston decided to discriminate against poor and working-class whites and racial minorities.  Known as “redlining,” banks condemned whole neighborhoods and refused to make loans to people who lived there regardless of their credit worthiness. Try to imagine what occurs if residents and small businesses in your neighborhood can’t get loans to buy homes or repair and improve their properties.  Small businesses close and jobs disappear. ‘Redlining’ decimated…
Washington, DC - Today, in response to the release of the Consumer Financial Protection Bureau’s (CFPB) rule to protect consumers from abusive payday and car title loans, NCRC President and CEO John Taylor made the following statement.   "We applaud the CFPB for taking this crucial step to protect consumers.  This will help stop abusive practices that trap working class consumers in a spiral of debt.   "We need to ensure that all Americans have access to responsible basic banking products and services and that they are protected from abusive lending from unsavory financial predators. This rule from the CFPB is an important step in that direction."   The…
Washington, DC – Today, in reaction to the release of the 2016 Home Mortgage Disclosure Act (HMDA) data, the National Community Reinvestment Coalition (NCRC) President and CEO John Taylor made the following statement. “Home ownership is the primary means by which America built the largest and wealthiest middle class in the world, a legacy that is endangered today. This data illuminates that all our banks, but especially the biggest banks, must be held more accountable as they continue to restrict access to fair and safe loans for low and moderate-income families. The 9% reduction in loans to blue-collar America since 2010…
Washington, DC– In response to the Administration’s decision to end the Deferred Action for Childhood Arrivals (DACA) program, NCRC’s President and CEO, John Taylor made the following statement. “NCRC cannot accept this reprehensible decision and imposition on our Dreamer friends and neighbors. Hundreds of thousands of undocumented immigrants will be deported if Congress does not act by March 5th. We are deeply concerned for the young Dreamers future, as many have never known a home other than America.” “This decision was not only inhumane but based on false economic reasoning.” continued John Taylor. “President Trump stated today, ‘Before we ask…
Thursday, August 31, 2017 03:00 PM

NCRC Statement on Hurricane Harvey

Washington, DC - The National Community Reinvestment Coalition’s thoughts and prayers are with the families of Southeast Texas and Southwest Louisiana who are experiencing continuous and unprecedented flooding from Hurricane Harvey. Over six million people, more than the population of 33 individual states, live in the areas impacted by the storm. “The NCRC community is especially concerned for the most vulnerable and historically voiceless communities’ in harm’s way”, said President and CEO John Taylor. “In Houston alone, 1 in 3 homes are in the “high-risk or “hazard” zones. If these houses are lost, the destruction will be comparable to New…
Tuesday, June 13, 2017 02:33 PM

NCRC Statement on the U.S. Treasury's Report

Washington, DC - Today,  in response to the U.S Treasury Department’s report on the financial system, NCRC’s President and CEO John Taylor made the following statement: “Obviously, we are disappointed by the Treasury report’s recommendations to repeal several key consumer protections.” “These recommendations, if adopted, affect the structure and authorities of the Consumer Financial Protection Bureau, eliminate data collection improvements to the Home Mortgage Disclosure Act (HMDA), and repeal Section 1071. These changes recreate an unfair and reckless lending marketplace where vulnerable communities could not protect themselves by weakening legislation designed to ensure greater transparency in mortgage and small business…
Washington, DC - Leaders of the National Community Reinvestment Coalition (NCRC), Community Home Lenders Association (CHLA), Community Mortgage Lenders of America (CMLA), Corporation for Enterprise Development (CFED), Leadership Conference on Civil and Human Rights, Leading Builders of America, League of United Latin American Citizens (LULAC), NAACP and the National Urban League released the following joint statement in anticipation of Treasury Secretary Steve Mnuchin’s testimony before the U.S. Senate Banking Committee tomorrow and in response to FHFA Director Mel Watt’s testimony last week: As representatives for small lenders and affordable housing advocates, we are buoyed by the insistence last Thursday by Director Mel Watt as conservator of Fannie Mae and Freddie Mac that they must…
Washington, DC - Today, in response to Federal Housing Finance Agency (FHFA) Director Mel Watt’s testimony before Congress warning of a possible bailout of the government-sponsored enterprises (GSEs) from the U.S. Department of Treasury and supporting retention of the GSEs' profits rather than turning them over to the U.S. Treasury, the National Community Reinvestment Coalition’s (NCRC) President and CEO John Taylor made the following statement. “NCRC applauds Director Watt for acknowledging the critical step he must now take as conservator of the GSEs to prevent the foreseeable risk ahead to the housing market and affordable housing should Fannie and Freddie’s…
Washington, DC – Today, National Community Reinvestment Coalition (NCRC) Senior Advisor Josh Silver testified before a Consumer Financial Protection Bureau (CFPB) field hearing regarding small business lending trends. In the testimony, NCRC detailed the difficulties that many women-, minority-owned, and very small businesses experience accessing small business lending. NCRC also discussed the benefits of the CFPB’s enhanced collection of small business lending data as mandated by Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. “A variety of reasons exist for these racial, gender, and regional disparities [in small business lending],” said Josh Silver, Senior Advisor at…
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