As the pandemic continues, the challenges small businesses and entrepreneurs face are heightened. Adjusting to a new normal proves to be most challenging for minority-owned businesses.
What do women entrepreneurs need in today’s business climate? Read More »
Compliance and Regulatory Counsel nsim@ncrc.org 202-792-1282 Natasha Sim is Compliance and Regulatory Counsel at the National Community Reinvestment Coalition (NCRC). Since joining NCRC in late 2020, Natasha has led the implementation of a multi-million-dollar lending program and managed the development of an affordable housing initiative aiming to produce 20 million homes by 2030. Natasha has
Special Assistant to the COO and Community Liaison sotero@ncrc.org 202-792-1283 Soraya Otero will be supporting NCRC’s COO Gregory Dyson as a Special Assistant, and support our Just Economy club as Community Liaison. Soraya brings outstanding organizational competencies, capacity building knowledge and practice, and great interpersonal skills backed by a robust career in operations and finance. She is focused towards institutional strategic goals.
Yesterday, the Office of the Comptroller of the Currency (OCC) released a proposed rule for establishing the Community Reinvestment Act (CRA) evaluation measure thresholds, retail lending distribution test thresholds, and community development minimums under the general performance standards set forth in the agency’s 2020 final rule.
NCRC statement on OCC’s Proposed CRA Thresholds Read More »
Latino borrowers paid substantially higher closing costs and interest rates for home purchase loans compared to non-Hispanic White borrowers, according to a new report from the National Community Reinvestment Coalition (NCRC) and UnidosUS.
Home lending data reveals discrepancies in Latino mortgage lending Read More »
The undersigned trade associations and organizations representing banks, credit unions and consumer interests write to share our concern with the brevity of the public comment period provided for recent novel national bank and national trust charter applications. The charters are not new, but the utilization of those existing charters by non-traditional applicants is significant.
On Wednesday, the Federal Housing Finance Agency (FHFA) released a final Capital rule for the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac. The rule requires the GSEs to maintain tier 1 capital in excess of 4%.
NCRC statement on FHFA final rule for Enterprise (GSEs) Regulatory Capital Framework Read More »
Monday, the Office of the Comptroller of Currency (OCC) published a final rule amending its licensing and merger procedures that will make it more difficult for community groups to comment on bank merger applications. Jesse Van Tol, CEO of the National Community Reinvestment Coalition, made the following statement: “It appears the OCC is doubling down
OCC announces final rule to amend licensing procedures Read More »
Despite published evidence and widespread media coverage of discrimination in the Paycheck Protection Program (PPP) bank loan application process, a second round of tests over the summer showed discrimination continued.Â
More tests and more signs of discrimination in PPP lending by banks Read More »
Minority-owned businesses are vital to economic growth, but discriminatory lending hinders access to credit.
Small Businesses of Color Matter Too Read More »
The pandemic has triggered the start of what might become a new round of “white flight” in some of the highest cost cities.
COVID-19 is speeding up white flight: Now is the time to invest in affordable housing Read More »
Some bank executives claim a limited pool of Black talent to recruit from, but the problem is in large part due to insular recruitment practices.
Why BLM Solidarity Requires Banks To Address Diversity And Inclusion Issues Read More »
This is one in a series of essays accompanying NCRC’s 2020 analysis that showed more chronic disease and greater risks from COVID-19 in formerly redlined communities. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views or policy positions of NCRC. Thousands of Black and
Pollution in Black neighborhoods part of Louisville’s systemic racism Read More »
On Tuesday, the Office of the Comptroller of the Currency (OCC) granted a conditional approval to Social Finance, Inc. to create a nationally chartered bank called SoFi Bank despite opposition from national community groups, including the National Community Reinvestment Coalition (NCRC).Â
OCC grants preliminary charter application for Social Finance, Inc., despite opposition Read More »
In a final rule issued Tuesday, the Office of the Comptroller of the Currency sanctioned high-cost lending arrangements between state-licensed non-banks and national banks. As a result, payday lenders and others charging triple-digit interest rates will be able to conduct business in states where high-cost lending is prohibited by state law.
OCC’s new True Lender rule opens the door to more abusive lending Read More »
