Alyssa Wiltse-Ahmad

NCRC’s Policy Director Testifies Before House on Disastrous CRA Reform Proposal

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.

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American Banker: Regulators’ powerful incentive to fast-track CRA reform

“As written, this proposal is bad enough to warrant overturning in whatever way possible,” said Jesse Van Tol, CEO of the National Community Reinvestment Coalition. “If the Democrats win big in 2020,” such a move “will be relatively high on the regulatory agenda if the proposed changes are finalized.”

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Politico: Bank Cop Faces Grassroots Resistance on Remake of Anti-redlining Law

“This is issue No. 1,” said Jesse Van Tol, who heads the National Community Reinvestment Coalition, a collection of more than 600 groups that pressure banks to invest more in underserved communities. “We’re rallying everyone who cares about civil rights, affordable housing, community development and basic fairness to oppose these rules, and we aren’t alone.”

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ABCnews: How gun homicides could be linked to bleak outlook of the future: Study

Income inequality linked to gun violence, but unequal distribution of resources isn’t an accident. According to a study published last year by the National Community Reinvestment Coalition, three out of four neighborhoods that were redlined in the United States decades ago continue to struggle economically.

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American Banker: Will CRA revamp stimulate lending in down-and-out neighborhoods?

A group of community reinvestment groups, including the National Community Reinvestment Coalition, said in a joint statement last week that the proposal “utterly fails to achieve what were supposed to be the primary objectives of rule changes: greater clarity for lenders and better results for low- and moderate-income communities and people of color.”

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Newson6: Local Businesses Compete In Holiday Lights Contest while Combatting Escalating Retail Challenges

Additionally, the National Community Reinvestment Coalition’s recent study ranked DC as America’s most gentrified city, and commercial property owners are shifting property tax burden increases to tenants.

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National Credit Union Administration: NCUA Board Member Todd M. Harper Statement on the 2020-2021 Budget

As the National Community Reinvestment Coalition noted in its comment letter, “[t]he lack of change implies that the NCUA is not keeping pace with the growing number of large credit unions and the changing dynamic of the industry that it regulates.” Once again, I couldn’t agree more.  

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American Banker: Reactions to CRA plan signal long fight ahead

“Along with the banking industry, we and our members across the nation share the desire to modernize CRA,” Van Tol said in a statement. “However, the Trump administration seems determined to radically overhaul and water down the compliance system by introducing a numerical measure of performance that has been widely criticized, by bankers as well as community advocates, as overly simplistic.”

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