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  Washington, DC -- Today, the National Community Reinvestment Coalition (NCRC) said that new data released by the Federal Financial Institutions Examination Council showed continued constriction of credit, particularly for low- and moderate income communities and communities of color, and significant disparities in lending by race. The volume of home lending was 7.1 million loans in 2011, the lowest since 1995, according to the Federal Reserve Board. Lower income borrowers, borrowers purchasing homes in lower income tracts, and borrowers purchasing homes in predominantly minority tracts experienced large drops in home purchase lending. Credit scores for borrowers are the highest in…
  Washington, DC – On September 13, dozens of members of the National Community Reinvestment Coalition (NCRC) came to Washington DC for the White House American Economic Competitiveness Forum on Housing. At this forum, over a hundred community advocates came together with administration officials at the White House to discuss solutions to America’s housing crisis.  “This was an encouraging discussion on the necessary steps to address America’s continuing housing crisis. Until we fix the broken housing market, we will not be able to fix our economy,” said NCRC President and CEO John Taylor. “We commend the White House for convening…
  Washington, DC -- Today, hundreds of community organizations sent a letter to President Obama calling on him to make a recess appointment to the Federal Housing Finance Agency (FHFA). FHFA is currently led by an Acting Director, Ed DeMarco, who has refused to allow Fannie Mae and Freddie Mac, which hold the majority of the mortgages in the country, to participate in a key administration principal reduction program. "The administration saying that their hands are tied on FHFA, when the President has the ability to name an FHFA Director through a recess appointment, is akin to telling someone "my…
Washington, DC -- Today, in reaction to Federal Housing Finance Agency (FHFA) Acting Director Ed DeMarco's decision not to allow Fannie Mae and Freddie Mac to use principal reduction in their loan modification programs, the National Community Reinvestment Coalition called for a change of leadership at FHFA. "DeMarco has failed in his responsibility to do what is best for taxpayers and homeowners," said NCRC President and CEO John Taylor. "FHFA's own analysis on this matter shows that principal reductions at Fannie and Freddie are sensible, pragmatic and consistent with responsible management of the GSEs. DeMarco needs to lead, follow or…
Washington, DC -- On Tuesday, July 24, the National Community Reinvestment Coalition's Small Business Teaming Center will hold an event to introduce the procurement community to the concept of small business teaming, and give small business owners the opportunity to network. NCRC's Small Business Teaming Center puts together teams of small businesses with complementary capabilities to allow them to compete for large federal contracts they would not be able to win individually. The center is funded by the U.S. Small Business Administration (SBA) and managed by the National Community Reinvestment Coalition. "Small business teaming is an innovative concept that will…
Washington, DC –  The National Community Reinvestment Coalition (NCRC) today applauded the Consumer Financial Protection Bureau for their enforcement action against Capital One. The action follows NCRC's challenge of Capital One's acquisition of ING Direct and HSBC's credit card unit. NCRC argued that the company should not be allowed to become Too-Big-to-Fail given its record on consumer issues. "CFPB's enforcement action sends a clear message: it's a new day. We applaud the Consumer Financial Protection Bureau for doing exactly what Congress intended for them to do: acting as a nimble and powerful agency that protects consumers against unfair and abusive…
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) and its member organization, the Association for Neighborhood and Housing Development (ANHD), released a set of resources to aid the advancement of local responsible banking ordinances in cities throughout the nation. Local responsible banking ordinances are laws designed to ensure responsible loans, investments, and services for modest-income and minority neighborhoods. The ordinances require an evaluation of financial institution performance in serving modest-income and minority neighborhoods as part of the criteria for deciding which institutions receive municipal deposits and other city business. In order to empower organizers, advocates and lawmakers seeking…
Washington, DC – Today, David Berenbaum, Chief Program Officer of the National Community Reinvestment Coalition (NCRC), will testify in a hearing before the Congressional Subcommittee on Insurance, Housing, and Community Opportunity. In the hearing, entitled Appraisal Oversight: The Regulatory Impact on Consumers and Businesses, NCRC will call upon Congress to enact a series of reforms designed to improve the appraisal process for all Americans, and particularly for low to moderate income communities and communities of color. NCRC will be the sole consumer organization represented at the hearing. “Inflated and inaccurate appraisals contributed to the foreclosure crisis,” said John Taylor, NCRC…
Generating Real Opportunities for Work Transforming Housing Initiative Announced by President Clinton at Clinton Global Initiative America Meeting Washington, DC – The National Community Reinvestment Coalition (NCRC) and its principal partners, including Chicanos Por La Causa (CPLC), NALCAB—National Association for Latino Community Asset Builders and the AFL-CIO Building and Construction Trades Department (BCTD), introduced today an initiative to train workers to return vacant and abandoned properties to productive use. The initiative – Generating Real Opportunities for Work Transforming Housing (GROWTH) – was announced by former President Bill Clinton during the Clinton Global Initiative America meeting in Chicago on Friday. "The…
New York City, NY -- This month, the National Community Reinvestment Coalition's (NCRC) New York City Minority Business Center will begin a working collaboration with the National Minority Angel Network (NMAN), a new organization dedicated to fostering investment in minority-led and owned start-up businesses. To kick off this new collaborative initiative to connect minority-led and owned businesses with investors, the New York City Minority Business Center and NMAN will cohost a reception for potential investors on May 30, 2012 at 5:30 pm. NCRC's New York City Minority Business Center provides management and business consulting services to minority business enterprises, and…