(Download) December 13, 2019 The Honarable Nita Lowey 2365 Rayburn House Office Building Washington, DC 20005 The Honorable Kay Granger 1026 Longworth House Office Building Washington, DC 20005 The Honorable Richard Shelby 304 Russell Senate Office Building Washington, DC 20005 The Honorable Patrick Leahy 437 Russell Senate Office Building Washington DC 20005 Dear Chairs and Ranking […]
In December 2019, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) issued a notice of proposed rulemaking (NPRM) that would considerably weaken the regulations implementing the Community Reinvestment Act (CRA), a law designed to combat redlining by requiring banks to affirmatively and continually meet community needs for
In the words of dissenting Federal Deposit Insurance Corporation (FDIC) Board member Martin Gruenberg, the FDIC and the Office of the Comptroller of the Currency’s (OCC) Notice of Proposed Rulemaking (NPRM) on the Community Reinvestment Act (CRA) “is a deeply misconceived proposal that would fundamentally undermine and weaken the Community Reinvestment Act.” The agencies would
Summary Fact Sheet on the OCC and FDIC CRA Proposed Rule Read More »
December 9, 2019 Ms. Kathy Kraninger Director Consumer Financial Protection Bureau 1700 G. St. NW Washington DC, 20552 Dear Director Kraninger: Widely available and accessible Home Mortgage Disclosure Act (HMDA) data has been instrumental to achieving the statutory purpose of HMDA of assessing whether lending institutions are serving the housing and credit needs of communities.
10 national civil rights and economic justice leaders, including NCRC, issue a strong statement against the government’s plan to weaken the Community Reinvestment Act
Today, the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released a notice of proposed rulemaking (NPRM) for changes to the Community Reinvestment Act (CRA). While the National Community Reinvestment Coalition (NCRC) is currently analyzing the NPRM, preliminary assessments are concerning. Jesse Van Tol, CEO of NCRC, made
(Download) December 9, 2019 RE: Docket ID OCC-2019-0021, Loans to Small Businesses and Small Farms To Whom it May Concern: The National Community Reinvestment Coalition (NCRC), an association of more than 600 community-based organizations that promote access to basic banking services, affordable housing, entrepreneurship, job creation and vibrant communities for America’s working families, suggests that
NCRC’s comment on reporting of data on loans to small businesses and farms Read More »
Introduction Fintech, or “financial technology,” is an industry on the rise to assist in personal financial management and documentation in order to increase monetary security and reduce fraud and exploitation. The fintech industry utilizes specialized software and algorithms on electronic devices, such as computers and mobile phones, to detect unusual spending activity. This fairly new
ISSUE BRIEF: FinTech and Older Adults Read More »
Nationwide, 64% of Americans own their homes. In Milwaukee, merely 52% do. And the challenges are substantially greater for lower-income households and people of color. The differences are as plain as black and white – literally.
The share of African Americans who own their homes fell from 43.8% in early 2012 to 40.6% in the second quarter, according to the U.S. Census Bureau. By contrast, the white homeownership rate has edged down slightly, from 73.5% to 73.1%. In 2004, during the housing boom, nearly half of black people owned their homes.
USA Today: Black households can afford just 25% of homes for sale, down from 39% in 2012 Read More »
