NCRC

Letter from US Senators Sherrod Brown, Cory A. Booker, Benjamin L. Cardin, Ron Wyden, Richard J. Durbin asking for a strong Section 1071 rule

By / / Policy / 4 minutes of reading

(Download) The Honorable Rohit Chopra Director Consumer Financial Protection Bureau 1700 G Street NW Washington, DC 20552 Re: Dodd-Frank Section 1071 Rulemaking Dear Director Chopra: Thank you for the opportunity to comment on the Consumer Financial Protection Bureau’s (CFPB or Bureau) proposed rule amending Regulation B to implement Section 1071 of the Dodd-Frank Wall Street […]

Letter from US Senators Sherrod Brown, Cory A. Booker, Benjamin L. Cardin, Ron Wyden, Richard J. Durbin asking for a strong Section 1071 rule Read More »

Video: Bank Branch Closures During the Pandemic

By / / NCRC Videos / 4 minutes of reading

Online Event Archive Recorded Thursday, March 3, 2022 The pandemic wreaked havoc on local economies and lives, but for banks, it was an opportunity to speed up the disappearance of traditional brick-and-mortar branches and services in cities and towns across the nation. NCRC’s new report shows that more than 4,000 physical bank branch locations have

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Racial Wealth Snapshot: Women, Men, and Racial Wealth Divide

By / / Research / 8 minutes of reading

This is one in a series of racial wealth snapshots. See more here. Download Infographic View Infographic Introduction Women have made great strides in the workplace, comprising nearly half of the workforce and surpassing men in higher education achievement. Yet women still earn less income, have less wealth and face greater economic instability than their

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Position Paper on CRA Reform

By / / Testimony & Regulatory Comments / 27 minutes of reading

(Download) The 123 undersigned organizations are pleased that the federal bank agencies will be proposing an interagency rule implementing the Community Reinvestment Act (CRA) in the near future. CRA has been instrumental in leveraging bank financing for retail lending and community development in low- and moderate-income (LMI) communities since its passage in 1977. A critical

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NCRC Fact Sheet: Three Bills Would Significantly Weaken Section 1071 Small Business Loan Disclosures

By / / Views / 7 minutes of reading

The philosophy behind Section 1071 is similar to that of the Home Mortgage Disclosure Act (HMDA) data: the public release of data will identify which lenders are making good faith efforts to serve small businesses and which lenders lag their peers, encouraging the laggards through public accountability to increase their lending to traditionally underserved businesses. We expect a similar benefit from Section 1071 in narrowing the significant racial and gender disparities present in small business lending.

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Tracing the Legacy of Redlining: A New Method for Tracking the Origins of Housing Segregation

By / / Research / 14 minutes of reading

Eighty years after the Home Owners Loan Corporation (HOLC) formally drew its redlining maps, those neighborhoods are still high minority population areas with the highest rates of vacancy in their metropolitan areas.

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The Great Consolidation of Banks and Acceleration of Branch Closures Across America

By / / Research / 22 minutes of reading

In the ten years from March 2010 through March 2020, there was a net loss of 11,820 branches in the US, an average of 98.5 per month. Since the pandemic reached our shores in March 2020, 4,025 branches have closed — an average of 201 branch closures per month. This was beyond our prediction and calls into question the future of bank branches as the principal conduit for access to financial services.

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Video: A conversation with OCC Acting Comptroller Hsu

By / / NCRC Videos / 2 minutes of reading

Online Event Archive Recorded Monday, February 14, 2022 The National Community Reinvestment Coalition (NCRC) hosted an online conversation with Acting Comptroller of the Currency Michael Hsu and NCRC President and CEO Jesse Van Tol. They talked about the Community Reinvestment Act (CRA) and the importance of banks meeting the needs of their communities, the racial

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Racial Wealth Snapshot: Native Americans

By / / Research / 8 minutes of reading

The United States has too often hindered Native American advancement, not advanced it. Through years of intentional governmental policies that removed lands and resources, American Indians have been separated from the wealth and assets that were rightfully theirs.

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NCRC Comment Letter on Figure Bank’s Charter Application

By / / Testimony & Regulatory Comments / 21 minutes of reading

(Download) February 4, 2022 RE: NCRC Comment Letter on Figure Bank’s Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) and 36 community organizations co-signing this letter maintain that Figure Bank’s application for a charter has not demonstrated a significant commitment to meeting the convenience and needs of the community to

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Advocates Submit Letter to FDIC To Stop Banks From Fronting For Predatory Lenders

By / / Testimony & Regulatory Comments / 9 minutes of reading

(Download) February 4, 2022 The Honorable Martin Gruenberg Acting Chairman Federal Deposit Insurance Corporation 1776 F Street, NW Washington, DC 20006 Rohit Chopra, Director Consumer Financial Protection Bureau 1700 G Street, NW Washington, DC 20220 Michael Hsu, Acting Comptroller Office of the Comptroller of the Currency 400 7th Street, SW Washington, DC Dear Acting Chairman

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NCRC Letter in Support Of Federal Reserve Nominees

By / / Testimony & Regulatory Comments / 6 minutes of reading

(Download) Senator Sherrod Brown Chairman U.S. Senate Committee on Banking, Housing, and Urban Affairs 534 Dirksen Senate Office Building Washington, D.C. 20510 Dear Chairman Brown, The National Community Reinvestment Coalition (NCRC) and the undersigned organizations would like to express strong support for the nomination of Sarah Bloom Raskin to serve as Vice-Chair of Supervision for

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