This week, the Senate is expected to pass a bill to roll back some Dodd-Frank provisions on smaller banks with bipartisan support — except from virtually every 2020 presidential hopeful.
Buzzfeed: The lefty democratic shift on wall street is happening for real Read More »
Rollbacks to Dodd-Frank are expected to pass, thanks in no small part to Democrats in Congress.
New Republic: How Democrats are helping Trump dismantle Dodd-Frank Read More »
Congress should be asking how to expand reporting requirements for all lenders, not end them. We need bipartisan support to end discrimination in lending, not to hide the data that exposes it.
The most significant attempt to loosen rules imposed in the wake of the 2008 financial crisis is underway in Congress as the Senate looks to pass legislation within the next month that would roll back restrictions on swaths of the finance industry.
New York Times: Democrats add momentum to G.O.P. push to loosen banking rules Read More »
The Senate Banking Committee will begin its markup today of a bill that would roll back the Dodd-Frank Act. Experts see it as a dangerous step. The Center for Responsible Lending, the National Community Reinvestment Coalition and the National Consumer Law Center all oppose the bill.
HousingWire: Senate Banking Committee introduces repeal of Dodd-Frank Act Read More »
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) applauded a letter sent by 84 Members of the U.S. House of Representatives, led by Representatives Donald Payne, Jr. (D-NJ) and Chris Van Hollen (D-MD), to the Consumer Financial Protection Bureau (CFPB) urging the agency to initiate rulemaking on the collection and release of small
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
NCRC Testifies on Older Americans Act before House Appropriations Committee Read More »
September 20, 2011 — NCRC President and CEO John Taylor testified today before the Federal Reserve on the Capital One acquisition of ING Direct USA, citing issues like systemic risk, public benefits, the future of community-based banking, and the effectiveness of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Download the Testimony
NCRC Testifies at Public Hearings on Capital One Deal Read More »
Washington, DC–On Friday, September 24th, NCRC will testify before Federal Reserve Board on making critical improvements to HMDA data, so that lenders can be held accountable for the types of loans they are issuing to communities.
“We are in an era of some of the most complicated mortgage products to-date and given the strain that bad mortgage loans have put on our economy, lenders should be examined with a microscope now more than ever. In the era of reckless and corrupt lending, it is crucial that HMDA actually does what it was enacted to do, which is identify discriminatory lending patterns and determine if financial institutions are meeting local housing needs,” said John Taylor, president and CEO of NCRC, in reaction to the Federal Reserve’s 2009 HMDA data report.
The recently enacted Dodd-Frank bill mandates significant improvements to HMDA data. NCRC calls upon the Federal Reserve Board and the new Consumer Financial Protection Bureau to expeditiously implement these improvements. In today’s release, the Federal Reserve Board states that the current HMDA data lacks information on credit scores, property values, and other factors necessary to fully account for disparities in racial access to affordable loans.
Improving HMDA Data can be the Answer to Averting another Foreclosure Epidemic Read More »
