During the New Deal Era of the 1930s, the discriminatory practice of redlining was introduced in the United States. Neighborhoods with immigrants and people of color were labeled “red” and designated “hazardous” by the Home Owners’ Loan Corporation, and banks, realtors and public officials used those maps to deny loans and other investments in those
Omarova Nomination Hearing Underscores the Urgency for CRA Reform, Including Stronger Consideration of Race in Exams
During yesterday’s confirmation hearing, two questions posed by senators considering the nomination of Dr. Saule Omarova to lead the Office of the Comptroller of the Currency (OCC) demonstrated the widespread interest in updating the Community Reinvestment Act (CRA).
Today, the US House of Representatives passed the $1.7 trillion Build Back Better Act which includes significant investments in social spending and supports programs to fight climate change.
This week, the National Community Reinvestment Coalition, the American Bankers Association and the Independent Community Bankers Association submitted a joint letter to Congress, calling on the House Financial Services Committee to exercise its oversight function over the National Credit Union Administration (NCUA) and enact new legislation that subjects credit unions to the Community Reinvestment Act (CRA).
Joint Banking and Consumer Trades Letter to HFSC and SBC: Credit Union OversightJoint Banking and Consumer Trades Letter to HFSC and SBC: Credit Union Oversight
(Download) The Honorable Maxine Waters Chairwoman Committee on Financial ServicesUnited States House of RepresentativesWashington, D.C. 20515 The Honorable Patrick McHenryRanking MemberCommittee on Financial ServicesUnited States House of RepresentativesWashington, D.C. 20515 The Honorable Sherrod Brown Chairman Committee on Banking, Housing, and Urban AffairsUnited States SenateWashington, D.C. 20510 The Honorable Pat ToomeyRanking MemberCommittee on Banking, Housing, and Urban AffairsUnited States SenateWashington,
NCRC Applauds the CFPB’s Decision to Assess the Effectiveness of the HMDA Rule, But More Immediate Action is Required
The CFPB’s request for information this week is a promising first step, but the agency should complete the work to implement the Congressionally-mandated requirements for a HMDA that will shed light on lending activity in all communities and with the robust data points that the public needs to investigate financial institutions for fair lending concerns.
DC Women’s Business Center, Founder Feature: Kim Alfonso is the Co-Founder and CEO of Results One LLC , and is a client of the DC Women’s Business Center, an NCRC program. Kim Greenfield Alfonso is a native Washingtonian and the daughter of medical professionals who graduated from Howard University. She credits her father for instilling in
The National Community Reinvestment Coalition expresses its strong support for the nomination of Professor Saule Omarova to serve as the next Comptroller of the Currency.
It’s time for policymakers and mortgage lenders to promote special purpose credit programs to help close the racial wealth gap
Although Congress is likely to include funding for several housing programs in the Build Back Better Act that will provide federal assistance for first-generation homeownership, these federal funds are only one of many steps needed to close the racial wealth gap. One of the most important next steps is for policymakers to encourage mortgage lenders to embrace the use of special purpose credit programs (SPCPs).
Riddle Property Group, LLC, in partnership with The NCRC Housing Rehab Fund, LLC (NCRC HRF), known as GROWTH by NCRC, signed a development agreement to build affordable new townhomes in Atlanta’s historic Vine City neighborhood.
New York is now among a group of states, including Illinois and Massachusetts, that have recognized the need to ensure that all lenders, not just banks, make mortgages available to credit-worthy borrowers in all communities.
The report pushes policy in the right direction, but it stops short of action. The next step – selling stablecoin regulation to a divided Congress – could be much harder.
The National Community Reinvestment Coalition (NCRC) has filed fair housing complaints against two mortgage lenders for discriminating against prospective Black clients.
Online Event Archive Recorded Thursday, October 28, 2021 Learn how you can use this powerful tool, available to all NCRC members, to produce a report on mortgages, small business lending and bank branch networks for any city, county or metro area in the nation. You’ll also hear from local leaders about how they use this
The National Community Reinvestment Coalition (NCRC) today submitted a comment letter to the Office of the Comptroller of the Currency (OCC) strongly supporting the OCC’s proposed rescission of it’s disastrous 2020 Community Reinvestment Act (CRA) rule.
(Download) October 29, 2021 Comment on OCC Proposal to Rescind its 2020 rule regarding the Community Reinvestment Act Regulations, Docket ID OCC-2021-0014 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) and the 108 undersigned organizations strongly support the proposed rescission of the harmful 2020 Office of the Comptroller of the Currency’s (OCC’s)
NCRC, Four Other National Advocacy Groups, Author Letter to Treasury Department over Bank Charters for Stablecoin Issuers
October 28th, 2021 The Honorable Janet Yellen Secretary U.S. Department of the Treasury 1500 Pennsylvania Avenue, NW Washington, DC 20220 Re: Opposition to bank charter for stablecoin issuers Dear Secretary Yellen, Americans for Financial Reform, The Center for Responsible Lending, National Community Reinvestment Coalition, National Consumer Law Center (on behalf of its low-income clients), and
SAGE is a national leader in addressing issues related to lesbian, gay, bisexual and transgender (LGBT) aging. In partnership with its constituents and allies, SAGE works to achieve a high quality of life for LGBT older people, supports and advocates for their rights, fosters a greater understanding of aging in all communities, and promotes positive images of LGBT life in later years.
(Download) October 25, 2021 Clinton Jones, General Counsel Attention: Comments/RIN 2590-AB12, Affordable Housing Goals Federal Housing Finance Agency Dear Mr. Jones: The National Community Reinvestment Coalition (NCRC), an association of more than 600 community-based organizations seeking to increase access to credit and capital for traditionally underserved communities, appreciates the opportunity to comment on the proposed
(Download) October 25, 2021 Clinton Jones, General Counsel Attention: Comments/RFI, Equitable Housing Finance Plans Federal Housing Finance Agency Dear Mr. Jones: The National Community Reinvestment Coalition (NCRC), an association of more than 600 community-based organizations seeking to increase access to credit and capital for traditionally underserved communities, appreciates the opportunity to comment on the preparation
NCRC and M&T Bank Announce $43 Billion Community Growth Plan To Support Underserved and Communities of Color, Small Businesses
M&T Bank Corporation (NYSE: MTB) (“M&T”) and the National Community Reinvestment Coalition (NCRC) announced today the bank’s plan to contribute $43 billion in loans, investments an
Justice (DOJ), the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) for alleged discrimination against Black and Hispanic communities and residents in Memphis, Tennessee.
On Monday, St. Louis Equal Housing and Community Reinvestment Alliance (SLEHCRA), Woodstock Institute and the National Community Reinvestment Coalition (NCRC) submitted comment letters opposing the proposed merger between First Mid Bank & Trust and Jefferson Bank & Trust to the Federal Reserve.