Investing in a Just Economy For over 27 years, NCRC has worked to create a just economy. We believe private capital of various forms – including a wide variety of financial institutions – must be engaged in building an equitable and fair economy. There is both a legal and a moral obligation for banks and […]
2018 Policy Agenda: Investing in a just economy Read More »
Quicken Loans overtakes Wells Fargo as the largest loan originator.
2017 HMDA Overview: Non-banks dominated home lending Read More »
The Department of Treasury released its long anticipated memorandum recommending changes and updates to the Community Reinvestment Act (CRA) in early April. Spring is a season of renewal and CRA is a law that indeed needs refreshing and updating. Passed in 1977, it imposes an affirmative obligation on banks to serve the needs of local communities. The statute directs federal bank agencies to examine and rate banks on their lending and service in low- and moderate-income communities.
NCRC analysis of CRA Treasury report Read More »
With the publication of Richard Rothstein’s 2017 book, The Color of Law: A Forgotten History of How Our Government Segregated America, the issue of racial and economic “redlining” has come to the forefront. The shocking thing about the revelations in Rothstein’s book is the degree to which policies and practices of segregation were accepted and
Reversing the red lines: Disinvestment in America’s cities Read More »
This study examines how neighborhoods were evaluated for lending risk by the HOLC, and compares their recent social and economic conditions with city-level measures of segregation and economic inequality
HOLC “redlining” maps: The persistent structure of segregation and economic inequality Read More »
Executive Assistant to Chief, Community Development srussell@ncrc.org 202-464-2728 Stephanie Ann Russell is the Executive Assistant to the Chief Community Development Officer at NCRC. As Executive Assistant, Stephanie is responsible for the overall management of the Chief’s schedule along with ensuring that the day-to-day activities are accomplished. Stephanie works closely with the Team to assist with
Stephanie Ann Russell Read More »
Statement for the record from John Taylor, president and CEO, of the National Community Reinvestment Coalition to the House Financial Services Subcommittee on House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit January 30, 2018 Chairman Luetkemeyer, Ranking Member Clay, and Distinguished members of the Subcommittee: The National Community Reinvestment Coalition (NCRC) appreciates
NCRC’s congressional testimony on fintech oversight Read More »
The Honorable Steven T. Mnuchin Secretary of the Treasury Department of the Treasury 1500 Pennsylvania Ave NW Washington DC, 20220 Click here for a summary of the letter. Dear Secretary Mnuchin, In February of 2017, President Trump issued an executive order mandating that federal agencies regulate the financial industry consistent with core principles including
Letter to Treasury: Strengthening the Community Reinvestment Act Read More »
Washington DC– On Tuesday, January 30th, interim Director Mick Mulvaney placed the Office of Fair Lending and Equal Opportunity under his direct control and stripped it of enforcement power. John Taylor, President and CEO of the National Community Reinvestment Coalition, made the following statement. “The CFPB’s organization chart is the agency’s business, but enforcing consumer
Interim Director removes enforcement powers from anti-discrimination office Read More »
WASHINGTON, D.C. – This week, a leaked version of a housing finance proposal from U.S. Senators Bob Corker (TN) and Mark Warner (VA) emerged that would severely harm America’s housing market. Today, several civil rights and affordable housing groups issued a statement on the proposal’s negative impact on access, affordability, and market stability. The Center
Senate housing finance proposal threatens access, affordability, and market stability Read More »
Federal Research Financial Crisis Inquiry Report (2010)[1] “Conclusions of the Financial Crisis Inquiry Commission” “We also studied at length how the Department of Housing and Urban Development’s (HUD’s) affordable housing goals for the GSEs affected their investment in risky mortgages. Based on the evidence and interviews with dozens of individuals involved in this subject area,
Don’t blame the affordable housing goals for the financial crisis Read More »
Anthony Yezer’s recent white paper, Personal Privacy of HMDA in a World of Big Data, is part of the banking industry’s continued effort to limit public access to data collected by federal agencies.[1] Yezer’s paper, which was funded by the Mortgage Bankers Association, fundamentally challenges data collection and reporting under the Home Mortgage Disclosure Act
Rebuttal to personal privacy of HMDA in a world of big data Read More »
Introduction: Last year, President Trump issued an executive order mandating that federal agencies regulate the financial industry consistent with core principles including empowering consumers to make informed financial decisions and build wealth. In June, the Treasury Department responded to this executive order by publishing the first of a series of reports on the financial industry
Summary of NCRC recommendations regarding Treasury Department review of CRA Read More »
Director, Fair Housing tmccracken@ncrc.org 202-383-7709 Tracy McCracken is NCRC’s Director of Fair Housing. She has garnered extensive fair housing and fair lending testing experience as a project coordinator with DB Consulting Group, as a senior project coordinator with the National Fair Housing Alliance, and as the executive director of the Mobile Fair Housing Center. She
