Testimony & Regulatory Comments

Testimony and comments from NCRC about pending legislation and regulatory issues.

NCRC Files Comments at Joint Public Hearing on CRA (July 19, 2010)

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Community Reinvestment Act (CRA) Interagency Joint Public Hearing

 

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“Responsible CRA-related lending and investing has been vital for low- and moderate-income communities.  Over the 13-year time period from 1996 through 2008, CRA small business and community development lending has totaled more than $1 trillion for America’s low- and moderate-income neighborhoods.” ~Josh Silver, Vice President, Research & Policy

Click here to download a PDF of the full comments.

Click here to download a PDF of the press release.

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John Taylor testifies on CRA before House Financial Services Committee

By / / Testimony & Regulatory Comments / 1 minute of reading

hfsc_taylor_007a.jpgThe current foreclosure and economic crisis was caused in significant part by unregulated and risky lending. The federal government has obligated $23 trillion in rescuing the financial industry. Two major rationales motivated Congress to enact CRA in 1977. First, Congress believed that all creditworthy borrowers needed to have access to financial services regardless of their income class. It was true in 1977 and still true today that few working class, blue collar citizens can pursue their American Dream or build businesses without fair access to the financial system. Second, banks must have an obligation to serve their communities in return for FDIC deposit insurance and the full faith and backing of the American taxpayer. Today, both rationales must be applied to the entire industry since government financial and institutional support rescued the financial industry from its recklessness. In addition, a broad application of CRA can safeguard the financial industry and return it to profitability by requiring safe and sound lending and investments in neighborhoods.

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NCRC Testifies Before the House Financial Service Committee On the Housing Fairness Act of 2009

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NCRC Testifies Before the House Financial Service Committee On the Housing Fairness Act of 2009 online pharmacy buy strattera without prescription with best prices today in the USA online pharmacy buy lipitor online with best prices today in the USA

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David Berenbaum, Chief Program Officer Testifies Before the House Financial Services Committee

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David Berenbaum, NCRC’s Chief Program Officer, testifies before the U.S. House of Representatives House Financial Services Committee, on the subject of the Housing Fairness Act of 2009.  Click here to read the full testimony.

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NCRC Testimony: the Mortgage Reform and Anti-Predatory Lending Act of 2009

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NCRC Testimony: Supporting the Introduction of H.R. 703

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NCRC Maintains the Need for the Creation of a Broader-Scale Loan Modification to Stem the Foreclosure Crisis   online pharmacy buy cozaar no prescription online pharmacy online pharmacy buy avodart online no prescription pharmacy online pharmacy zestril online with best prices today in the USA

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NCRC Files Comments to SEC Seeking Greater Rating Agency Accountability

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This week, NCRC filed comments to the SEC regarding proposed rules that will address how rating agencies are regulated.  These comments follow NCRC’s letter to the SEC in April asking for an investigation of the practices of the nation’s largest rating agency companies.  Click here to read NCRC’s filed comments, as well as its April

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