How To Protect Depositors from Bank Failures? Prevent Banks from Taking Big Risks While it would be appealing to have a clear, singular villain to blame, it took many actors and decisions to set up the conditions that led to three bank failures in the last few weeks. Banks, regulators, depositors and politicians all played a role. […]
The Simplest Lessons From SVB: Weakened Rules, Too Much Risk Read More »
Ford Motor Company should be denied deposit insurance for its proposed new Ford Credit industrial loan company (ILC) charter, the National Community Reinvestment Coalition (NCRC), the National Consumer Law Center (on behalf of its low-income clients), Americans for Financial Reform Education Fund, and the Center for Responsible Lending wrote to the Federal Deposit Insurance Corporation
Consumer Advocate Groups Call on FDIC to Reject Ford Credit’s ILC Charter Application Read More »
With a new chairman taking the helm of the Federal Deposit Insurance Corporation (FDIC), the National Community Reinvestment Coalition (NCRC) joined with more than a dozen other organizations in calling for the FDIC to “stop permitting its supervised institutions to front for predatory lenders evading state interest rate limits.”
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 »
If the Federal Deposit Insurance Corporation (FDIC) approves Rakuten Bank America’s application for an industrial loan company (ILC) charter, it would trigger a cascading series of problems that would add risk to our banking system at a time when all federal agencies should focus on reorienting the country toward an equitable recovery and a just
The FDIC Should Prevent Rakuten From Getting A Banking Charter Read More »
We look forward to working with new Acting Comptroller Hsu. The OCC has a great deal of work ahead. It has taken a number of missteps in the past few years that should be reversed, and that work must get underway as soon as possible.
Treasury announces Michael J. Hsu as new Acting Comptroller of the OCC Read More »
The following are principles of reform; if the agencies contradict or contravene these principles, we will oppose any additional regulatory changes just as we have opposed the OCC final rule. Reforming CRA must not become a pretext for relaxing CRA.
Principles for CRA Reform: Strengthen Communities, Exams and Accountability Read More »
This week, the Federal Deposit Insurance Corporation (FDIC) announced a final rule on industrial banks and industrial loan companies (ILCs), allowing nonbank parent companies to apply for and receive ILC charters, enabling these lenders to make loans across the country with narrow and insufficient community reinvestment obligations.
NCRC continues to advocate for the inclusion of people and communities of color on CRA exams to address continued racial discrepancies in lending.
In the coming weeks, we expect the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) to propose a rule for the “true lender” doctrine, an act that will have a negative impact on the ability of states to protect their residents from high-cost lending.
Federal Regulators Should Refrain From Making a True Lender Rule Read More »
This white paper describes NCRC’s suggested rating system and discusses our forecasts of increased dollars for LMI neighborhoods.
The Office of the Comptroller of the Currency (OCC) announced long-anticipated changes to rules that enforce the Community Reinvestment Act (CRA). The Federal Deposit Insurance Corporation (FDIC) had previously joined the OCC in the rule-making effort, but it did not join in the final rule released today.
OCC Announces Final CRA Rule Changes, Moves Alone, Without FDIC or Federal Reserve Read More »
“Although the OCC and FDIC did not extend the comment period the additional 60 days that NCRC, our members and members of Congress called for several weeks ago, the agencies still made a prudent choice with a 30-day extension,” said Jesse Van Tol, NCRC CEO.
OCC, FDIC Makes Prudent Choice With Extension of CRA Comment Period Read More »
The Trump Administration’s banking regulators released a plan in December to upend the Community Reinvestment Act (CRA). Although released under the guise of being a modernization of the monumental civil rights legislation, Comptroller of the Currency Joseph Otting’s plan is a complete rewrite of the law.
NCRC’s Policy Director Testifies Before House on Disastrous CRA Reform Proposal Read More »
10 national civil rights and economic justice leaders, including NCRC, issue a strong statement against the government’s plan to weaken the Community Reinvestment Act
