Testimony & Regulatory Comments

The time has come for members of Congress, the prudential regulators, the Appraisal Subcommittee and the Consumer Financial Protection Bureau to work collaboratively to ensure that consumers and all the industry stakeholders involved in the home buying and refinance process will benefit from a system of regulation that helps ensure the independence and integrity of the appraisal process. These efforts will promote equal access to responsible and sustainable credit and a robust mortgage marketplace that meets our nations immediate housing finance needs.

March 29, 2012 -- NCRC President and CEO John Taylor and National Neighbors Silver Ambassador, Annette Smith, testified today before the House Appropriations Subcommittee on Labor, Health and Human Services, Education, and Related Agencies, citing issues like economic security for older adults, foreclosure prevention, and the need to restore funding to vital programs affecting America's seniors.

Annette Smith, a representative of the California Coalition for Rural Housing, one of ten National Neighbors Silver partners involved in NCRC's newest initiative to build economic security for older adults, offered written testimony in support of full funding for the Older Americans Act to the House Appropriations Subcommittee. Ms. Smith spoke of her personal experience accessing critical services in the face of homelessness.

Download the Testimony of John Taylor

November 8, 2011 -- During tumultuous times for the American housing market, Capital One continues practices that are degrading the chances of recovery and sustainability for low- to moderate-income communities. Their latest effort, an attempt to acquire HSBC, spurred a response from national consumer, community, housing, and civil rights organizations that requests an extension of the comment period by at least 60 days to allow the OCC to hold a formal hearing and public meetings in at least five major cities.
In a letter sent to Steven Maggio, Director for District Licensing for the OCC, these organizations highlight a series of grave concerns that support their call to action:
  • We have concerns about whether this proposal threatens our economic stability by encouraging "Too-Big-to-Fail" banking.
  • We have concerns about whether this proposal addresses Capital One's unresolved legal challenges.
  • We have concerns about whether this current review process allows for meaningful public input and requires Capital One to demonstrate a genuine commitment to underserved communities.
  • We have concerns about whether this proposal resolves allegations of Capital One's abusive financial practices.
If the requests are granted community leaders, businesses, and other regulatory agencies will have the time needed to contribute their opinions on this proposed acquisition.
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