JTaylor192 at aol.com
07-13-1998, 03:56 PM
Thanks to Fishbein and CCC for adding their alert on the CRA provisions in the
Credit Union bill HR1151. Since it was the National Community Reinvestment
Coalition (NCRC) that proposed the language that would bring the large credit
unions under some CRA-like mandate, it would be helpful if we heard from you
also. We are a community-based, trade association, whose board of directors
are elected by our 670 member organizations. If you have an interest in the
credit union bill, and if you think that all lenders, including credit unions,
ought to have some affirmative obligation to loan to traditionally underserved
people, we need to hear from you. DO NOT assume that we will hear of your
interest if you contact TA providers, or other non-community-based
organizations in Washington, DC. Contact us directly at 202-628-8866
Knowing which groups care about these issues and networking them into the
Coalition helps our already 670 member organizations to be more effective with
legislators, regulators and other policy makers. Not hearing of your interest
does not allow us to share other information with you that may be valuable to
you.
We have saved CRA, increased dramatically the level of bank commitments to
community org's and low-income communities, changed the way banks are
evaluated under this law, and stopped 'bank modernization' legislation from
leaving poor communities behind. Yet our greatest challenges, posed by the
mixing of banking and commerce and the huge bank megamergers, is in front of
us.
We have been successful only by working in Coalition. We have accomplished a
lot, by forging alliances and building capacities of community leaders from
across many different spectrums to influence. Community activists, community
developers, the faith community, homeless groups, community action agencies,
civil rights, CDFIs, local government, housing advocates, from both urban and
rural areas, are all collaborating and members of this coalition. NCRC needs
your participation to face these greater challenges.
This is the movement for economic justice. It must include your ideas, your
leadership and the same from as many other like-minded community folk. NCRC's
agenda is shaped and directed by people like you. Banks have become more
sophisticated in figuring out what is needed to get either a Satisfactory or
Outstandsing rating from their respective bank regulatory agency.. While some
deserve it, too many don't.
Those community developers and local community-based lending institutions who
think the banks are doing a fine job don't get two very important points.
First, they are working with you because of the fair lending laws, not because
of your wonderful organization. Two, we have peeked on bank involvement with
you and other institutions. The shrinking CRA universe (fewer and fewer
lenders covered by CRA- thuis the desire to add credit unions and others),
megmergers and bank modernization are all going to quickly change the
relationships some of you now enjoy with your special lending friends. Many
local groups are already noticing these changes. Look more for these big
banking insitutions to concentrate on developing partnerships with high
profile national organizations...easily recognizable by the regulatory
agencies and the press.
We are not without recourse, nor is it too late to begin to protect our
interests and communities. But we need those who are already on board to
become even more involved, and we need those who are on the sidelines thinking
they understand what this whole community reinvestment - economic justice
effort is about, to step forward, get involved, learn more, and help NCRC in
its efforts. We are matching wits and resources with the best people money
can buy, and with instituions that have unlimited resources. Our strength
begins and ends with you. This can only happen if you contact us.
John Taylor
President - NCRC
202-628-8866
This post transferred from the cdb-l mailing list
Credit Union bill HR1151. Since it was the National Community Reinvestment
Coalition (NCRC) that proposed the language that would bring the large credit
unions under some CRA-like mandate, it would be helpful if we heard from you
also. We are a community-based, trade association, whose board of directors
are elected by our 670 member organizations. If you have an interest in the
credit union bill, and if you think that all lenders, including credit unions,
ought to have some affirmative obligation to loan to traditionally underserved
people, we need to hear from you. DO NOT assume that we will hear of your
interest if you contact TA providers, or other non-community-based
organizations in Washington, DC. Contact us directly at 202-628-8866
Knowing which groups care about these issues and networking them into the
Coalition helps our already 670 member organizations to be more effective with
legislators, regulators and other policy makers. Not hearing of your interest
does not allow us to share other information with you that may be valuable to
you.
We have saved CRA, increased dramatically the level of bank commitments to
community org's and low-income communities, changed the way banks are
evaluated under this law, and stopped 'bank modernization' legislation from
leaving poor communities behind. Yet our greatest challenges, posed by the
mixing of banking and commerce and the huge bank megamergers, is in front of
us.
We have been successful only by working in Coalition. We have accomplished a
lot, by forging alliances and building capacities of community leaders from
across many different spectrums to influence. Community activists, community
developers, the faith community, homeless groups, community action agencies,
civil rights, CDFIs, local government, housing advocates, from both urban and
rural areas, are all collaborating and members of this coalition. NCRC needs
your participation to face these greater challenges.
This is the movement for economic justice. It must include your ideas, your
leadership and the same from as many other like-minded community folk. NCRC's
agenda is shaped and directed by people like you. Banks have become more
sophisticated in figuring out what is needed to get either a Satisfactory or
Outstandsing rating from their respective bank regulatory agency.. While some
deserve it, too many don't.
Those community developers and local community-based lending institutions who
think the banks are doing a fine job don't get two very important points.
First, they are working with you because of the fair lending laws, not because
of your wonderful organization. Two, we have peeked on bank involvement with
you and other institutions. The shrinking CRA universe (fewer and fewer
lenders covered by CRA- thuis the desire to add credit unions and others),
megmergers and bank modernization are all going to quickly change the
relationships some of you now enjoy with your special lending friends. Many
local groups are already noticing these changes. Look more for these big
banking insitutions to concentrate on developing partnerships with high
profile national organizations...easily recognizable by the regulatory
agencies and the press.
We are not without recourse, nor is it too late to begin to protect our
interests and communities. But we need those who are already on board to
become even more involved, and we need those who are on the sidelines thinking
they understand what this whole community reinvestment - economic justice
effort is about, to step forward, get involved, learn more, and help NCRC in
its efforts. We are matching wits and resources with the best people money
can buy, and with instituions that have unlimited resources. Our strength
begins and ends with you. This can only happen if you contact us.
John Taylor
President - NCRC
202-628-8866
This post transferred from the cdb-l mailing list