NCRC, FinTech Firms Issue Statement In Support Of Regulatory Stability At The Consumer Financial Protection Bureau
Five fintechs express support for the Consumer Financial Protection Bureau ahead of the CFPB’s Supreme Court case.
CFPB
Video: CFPB Director Rohit Chopra Announces Section 1071 Final Rule At 2023 Just Economy Conference
NCRC Just Economy Conference 2023 —  Recorded March 30, 2023 CFPB Director Rohit Chopra announced the final rule implementing Section 1071 of the Dodd-Frank Act at the 2023 #JustEconomy Conference Speakers: Rohit Chopra, Director of the Consumer Financial Protection Bureau; Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition Transcript: NCRC video
NCRC Statement On 5th Circuit Attack On CFPB Funding
‘The latest episode in a decade-long political crusade to kneecap the agency so that bad actors can go back to preying upon working-class families.’
NCRC Statement On 5th Circuit Attack On CFPB Funding Read More »
The CFPB’s Announcement That Discrimination is Unfair: Both Groundbreaking and A Statement of What We All Know To Be True
he CFPB’s announcement is a good step in rooting out discriminatory practices that have evaded exposure either through good compliance practices or enforcement because they were adjacent to the credit or housing markets. Not any more.
NCRC Fact Sheet: Three Bills Would Significantly Weaken Section 1071 Small Business Loan Disclosures
The philosophy behind Section 1071 is similar to that of the Home Mortgage Disclosure Act (HMDA) data: the public release of data will identify which lenders are making good faith efforts to serve small businesses and which lenders lag their peers, encouraging the laggards through public accountability to increase their lending to traditionally underserved businesses. We expect a similar benefit from Section 1071 in narrowing the significant racial and gender disparities present in small business lending.
NCRC welcomes FDIC review of bank merger guidelines
Some banks and other lenders have gotten away for too long with racial discrimination and bias in lending.
NCRC welcomes FDIC review of bank merger guidelines Read More »
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.
NCRC applauds confirmation of Rohit Chopra to lead CFPB
Rohit Chopra’s prior experience as an Associate Director and Student Loan Ombudsman at the CFPB and most recently as a Federal Trade Commissioner demonstrates his strong commitment to the CFPB’s core mission to protect American consumers from unfair, abusive or deceptive financial practices and products.
NCRC applauds confirmation of Rohit Chopra to lead CFPB Read More »
Fair lending advocates applaud CFPB’s plan to shine a light on small business lending through Section 1071 loan data collection
implementing Section 1071, the portion of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) that required the CFPB to collect and publish small business lending data.
NCRC applauds CFPB plan to collect Section 1071 small business loan data
The Consumer Financial Protection Bureau (CFPB) released a request for comment regarding its proposal to implement Section 1071, the portion of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank) that required the CFPB to collect and publish small business lending data.
NCRC applauds CFPB plan to collect Section 1071 small business loan data Read More »
2020 HMDA Preliminary Analysis
HMDA is a crucial tool for the public and local leaders to monitor the mortgage market and ensure lenders are not redlining in their communities.
2020 HMDA Preliminary Analysis Read More »
NCRC, Fintechs call on CFPB to clarify applying fair lending rules to artificial intelligence
A June 29, 2021, joint letter from NCRC, Affirm (NASDAQ: AFRM), Lending Club (NYSE: LC), Oportun (NASDAQ: OPRT), PayPal Holdings Inc (NASDAQ: PYPL), Square (NYSE: SQ) and Varo Bank, asked the CFPB to update its guidance on disparate impact to reinforce the Equal Credit Opportunity Act (ECOA) and Regulation B
NCRC applauds CFPB for landmark action to prevent lending discrimination based on gender identity and sexual orientation
Today, the Consumer Financial Protection Bureau (CFPB) announced that the principles from the landmark U.S. Supreme Court case Bostock v. Clayton County that provide protection against discrimination based on sexual orientation or gender identity also apply to the Equal Credit Opportunity Act (ECOA).
NCRC receives $1 million from W.K. Kellogg Foundation to support data transparency, research and private sector training to expand racial equity in small business lending
The National Community Reinvestment Coalition (NCRC) has been awarded $1 million from the W.K. Kellogg Foundation to support racial equity research and training for lenders to expand access to credit and capital for small businesses owned by people of color.Â
NCRC applauds the announcement of Rohit Chopra to head Consumer Financial Protection Bureau
“Rohit Chopra will be a champion for fair lending and a renewed commitment to ending abusive practices in the financial market,” said NCRC CEO Jesse Van Tol.