Key Findings Better outcomes on the retail lending test usually corresponded to higher ratings but the differences in performance were not as wide as expected Performance measures used to assess community loans and investments tended to indicate greater differences in bank performance across ratings categories This paper suggests the need for refining performance measures and […]
(Download) May 26, 2020 RE: Comment on Proposed Rule: Parent Companies of Industrial Loan Companies, RIN 3064-AF31 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), a coalition of 600 community-based organizations dedicated to increasing access to capital and credit for traditionally underserved communities, opposes the FDIC’s proposal to codify the procedures for
Comment on Proposed Rule: Parent Companies of Industrial Loan Companies, RIN 3064-AF31 Read More »
Dear Senate Leadership and Senate Appropriators: The National Community Reinvestment Coalition (NCRC) and the undersigned organizations are writing to urge the Senate to support housing counseling provisions included in H.R. 6800, the HEREOS Act, recently passed by the House.  Housing counseling agencies have played an essential role following the nation’s housing crisis and numerous natural disasters since then. Congress
Over 130 groups support more funding for housing counseling Read More »
(Download) May 21, 2019 RE: NCRC Comment Letter on Monzo’s Charter Application To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) maintains that Monzo’s charter application has not demonstrated a significant commitment to meeting the convenience and needs of the community to be served as required by the Community Reinvestment Act and the
NCRC Comment Letter on Monzo’s Charter Application Read More »
A group of 18 civil rights, consumer protection and industry leaders issued the following joint statement: Today, the Office of the Comptroller of the Currency (OCC) announced long-anticipated changes to rules that enforce the Community Reinvestment Act (CRA). The Federal Reserve Board decided not to join the proposed rule and has offered alternative approaches. The
Joint Statement On CRA Rule Changes From OCC Read More »
Download Infographic Introduction Asian Americans are the fastest growing racial group in the United States, and are predicted to be the nation’s largest immigrant group in 50 years.[1] Asian American is a racial category that includes Americans who are from or whose relatives are from a diverse group of countries: China, Korea, Japan, India, Pakistan,
Racial Wealth Snapshot: Asian Americans and the Racial Wealth Divide Read More »
Key Findings 30% of mortgages in 2018 went to older adults. 67% of older adults who took out mortgages were refinancing their homes and 68% of those used the mortgage to access the equity in their homes. Older borrowers were Whiter than younger borrowers. As with younger borrowers, there are racial disparities in interest rates
Mortgages and Older Adults after COVID-19 Read More »
April 28, 2020 RE: Docket ID OCC-2019-0024 To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), an association of 600 community-based organizations dedicated to increasing access to affordable and safe banking products in traditionally underserved communities, opposes the Office of the Comptroller of the Currency’s (OCC’s) proposed changes to its licensing manual that describes procedures
NCRC comment on OCC licensing and merger applications Read More »
The Honorable Steven Mnuchin Secretary U.S. Department of the Treasury 1500 Pennsylvania Avenue NW Washington, D.C. 20220 The Honorable Jerome H. Powell Chairman Board of Governors of the Federal Reserve System 20th Street NW & Constitution Avenue NW Washington, D.C. 20551 The Honorable Jelena McWilliams Chairman Federal Deposit Insurance Corporation 550 17th Street NW Washington,
NCRC urges emergency support for mortgage servicers Read More »
Markets dominated by large banks see small number of PPP loans Last update: April 20,2020 In states where community banks (deposits of $10 billion or less) held more deposits, businesses were more likely to receive Payroll Protection Program (PPP) loan funding. In states where larger banks dominated the market, businesses received fewer PPP loans and
Markets dominated by large banks see small number of PPP loans Read More »
(Download) April 8, 2020 NCRC supplemental comment on proposed CRA evaluation measure using Federal Reserve CRA data Notice of Proposed Rulemaking (Docket ID OCC–2018-0008 and RIN 3064-AF22) Reforming the Community Reinvestment Act Regulatory Framework To Whom it May Concern: The National Community Reinvestment Coalition (NCRC) is submitting another comment on the proposed changes to the Community Reinvestment
NCRC Supplemental CRA Comment Using Federal Reserve CRA Data Read More »
We already know that Black and Hispanic-owned small businesses are severely under- represented in communities, and the COVID-19 pandemic will likely damage these businesses especially hard. In a report that should surprise no one, researchers with the JPMorgan Chase Institute found that businesses located in Black and Hispanic communities are less likely to have the cash
COVID-19 Hits Black and Hispanic Businesses Hardest of All Read More »
