The National Community Reinvestment Coalition (NCRC) will host an online conversation with Acting Comptroller of the Currency Michael Hsu and NCRC President and CEO Jesse Van Tol.
NCRC to host a conversation with OCC Acting Comptroller Hsu Read More »
Getting the disastrous 2020 CRA rule fully rescinded was a hard-fought battle that involved comments from hundreds of our members across the nation and this is a huge victory for them and their communities. We’re relieved and welcome this action today from the OCC.
NCRC Welcomes OCC Final Rule to Rescind its Disastrous 2020 CRA Rule Read More »
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.
NCRC Commends House for Passage of Biden’s Historic Build Back Better Act Read More »
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.
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.
NCRC submits comment supporting OCC’s full rescission of disastrous 2020 CRA rule Read More »
In May 2019, the National Community Reinvestment Coalition (NCRC) filed a comment opposing the application and noted then that the company had not provided a complete plan to meet its community reinvestment obligations.
Monzo USA withdraws national bank charter application opposed by NCRC Read More »
Yesterday, President Biden announced the nomination of Cornell Law School Professor Saule Omarova to be the next Comptroller of the Currency.
NCRC statement on nomination of Saule Omarova as Comptroller of the Currency Read More »
The OCC proposed to fully rescind the 2020 CRA rule and also restated the agency’s intent to draft new rules jointly with the Federal Reserve Board and FDIC.
Lawsuit paused after OCC moves to fully rescind disastrous 2020 CRA Rule Changes Read More »
Today, the Office of the Comptroller of the Currency (OCC) announced it will propose to rescind its controversial Trump-era rules weakening the Community Reinvestment Act (CRA) and work with other banking regulators to adopt a clear, strong and consistent update to the CRA.
The True Lender rule, originally finalized in October 2020 by the Office of the Comptroller of the Currency (OCC), permitted national banks to use their charters to facilitate high-cost loans through rent-a-bank relationships with predatory lenders.
NCRC applauds Congress, President for nullifying the True Lender rule Read More »
The National Community Reinvestment Coalition (NCRC) applauds the outcome of today’s bi-partisan 52-47 Senate vote on S.J. Res. 15, a resolution to reverse the Trump-era True Lender Rule. The rule, finalized in October 2020 by the Office of the Comptroller of the Currency (OCC), allows national banks to use their charters to help predatory lenders get around state laws that protect borrowers from exorbitant interest rates.
NCRC applauds Senate vote to overturn OCC’s True Lender Rule 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 »
“The harm caused by the Trump Administration’s unlawful evisceration of anti-redlining rules is real and urgent. We are pleased the court rejected the Trump Administration’s shameful attempt to evade accountability for gutting a crucial anti-redlining law. We will continue to press forward in our case to protect marginalized communities and return the protections of the Community Reinvestment Act from the Trump Administration’s continued unlawful grip.”
