bannerimg

Public Policy

About NALCAB Public Policy

NALCAB is actively involved in research, advocacy and national partnerships to raise the profiles of key issues in our communities, and provide resources and technical assistance to our members. We engage policy makers on issues ranging from small business access to capital to consumer protections to ensure there is equity of opportunity in this country.

 

April 1, 2024 Comment to the Consumer Financial Protection Bureau (CFPB) on its Proposed Overdraft Regulation

We write in response to the January 17, 2024, proposed rule by the Consumer Financial Protection Bureau (CFPB) that would amend Regulation E and Regulation Z to update regulatory exceptions for overdraft credit provided by large financial institutions. Congress enacted the Truth in Lending Act (TILA) in 1968 which required banks to disclose loan terms in simple, standardized terms. A year later the Federal Reserve Board voted to create an exemption for overdraft services, so it was not subject to credit regulations. When this exemption was made overdrafts were significantly less frequent, greater services were required as individuals were writing checks, and average transactions causing overdraft were much larger.1 Charging these fees to consumers, particularly at the current rate averaging $35, is an outdated and punitive practice given advances in digital banking options and the minimal costs those digital tools impose on large financial institutions…

To read more, click here.

 

March 2024 Statement on District Court Ruling on the Minority Business Development Agency (MBDA) Business Development Program, click below:

 

The NALCAB policy team is seeking a Public Policy Associate to join our team. The policy team conveys NALCAB’s policy goals to policymakers at all levels of government. From conducting public policy research to building communications tools – the Public Policy Associate will assist in advancing NALCAB’s policy priorities and advocacy efforts. To find out how to apply and see a detailed summary of the position, click here.

NALCAB’s Policy Priorities

Strengthening Minority Small Business

Minority entrepreneurs are the economic engine for many cities, rural communities and the US economy as a whole. Our small business policy priorities include increasing access to capital, strengthening entrepreneurial development programs, and protecting small business borrowers from predatory lending practices and unsafe financial products.

Increasing Consumer Financial Protections

Abusive financial products and services are a major barrier for people who aspire to advance up the financial ladder. We cannot forget the lessons of the Great Recession. NALCAB works to increase financial education, instill safeguards against abusive lending and collection practices, eliminate unsafe financial products and put an end to discrimination in our financial system.

Addressing the Housing Affordability Crisis

There is a growing housing affordability crisis in the United States. NALCAB supports policies that open responsible access to home ownership and increase the supply of safe, health and affordable rental housing.

Increasing Diversity in Our Financial System

Diversity in the governance of the Federal Reserve and our largest financial institutions is important for ensuring that our financial system meets its full potential to include everyone in our economy. NALCAB promotes greater diversity in the governance of the Federal Reserve System and in the Boards and senior leadership of major financial institutions.

Promoting Immigration Policies That Strengthen Our Economy

Immigrants strengthen our economy. NALCAB works to advance the public’s understanding of the economic value of sound immigration policy. We advocate for policies that support immigrant entrepreneurs, protect workers and provide an earned path to citizenship for aspiring Americans, particularly Deferred Action for Childhood Arrivals (DACA) recipients and their families.

Opening Access to Federal Community Development Funding

NALCAB is committed to opening access to the federal funding streams that invigorate our communities and support Latino economic advancement. We advocate for robust funding for federal agencies and programs that are key to the community and economic development efforts of our members nationwide. This includes, but is not limited to, US HUD including Disaster Recover programs, the Community Development Financial Institutions Fund, the US Small Business Administration, and the US Department of Agriculture’s Rural Development Programs.

Strengthening the Community Reinvestment Act

The Community Reinvestment Act (CRA) requires regulated banks to meet the credit needs of all people in the communities where they do business. It is a critical tool for working toward a more inclusive economy. NALCAB works in collaboration with diverse national and regional coalitions to ensure regulators strengthen and fully implement the CRA.

Read More

Public Policy Staff

BoardImg
Director of Public Policy
BoardImg
Public Policy Analyst

Contact Us

Feel free to get in touch with us. We are always open to discussing new projects, ideas or opportunities to help your organization reach its policy goals.

NALCAB’s DC office is located at 910 17th St. NW, Suite 820, Washington DC 20006. To learn more about our policy work, contact Clarinda Landeros, Director of Public Policy, at 202.991.9100 or at policy@nalcab.org.

Follow us on Twitter! @NALCABPolicy