THE INTERCEPT Comments submitted to a top banking regulator supporting a 2015 merger between OneWest Bank and CIT Bank were attributed to people who never sent them, according to documents obtained under the Freedom of Information Act and reviewed by The Intercept.Read More
THE WALL STREET JOURNAL
Afterward, Paulina Gonzalez, the head of the community group leading the charge, approached Mr. Mnuchin seeking a truce that included the bank setting aside billions of dollars more for lower-income communities, under a law called the Community Reinvestment Act, or CRA. “I hope we can figure…
Según los testimonios de algunos de los afectados, al no responder a la petición, el banco bloqueó sus cuentas. La entidad asegura que nada ha cambiado y que solo cumplen con la ley.
“If there is a company that is hiding behind another it raises the question as to why,” said Kevin Stein of the California Reinvestment Coalition. “There is a good chance that the answer is because he, or companies like that, don’t want the public to know.”
Kevin Stein, a director at the California Reinvestment Coalition, said these changes take away from the law’s focus on local investment. “By opening up the door in every respect it just further and further weakens the accountability banks have in meeting local needs,” said Stein.
“We work with consumer groups and financial counselors in immigrant communities across and the country,” Paulina Gonzalez, executive director of the California Reinvestment Coalition said in an email. “This is new. We have Bank of America customers who we’ve spoken to who have never been asked this…
THE WALL STREET JOURNAL
“We’re concerned that this is a proposal from the OCC that is disguised as one based on community need, when really it serves the needs of banks first,” said Paulina Gonzalez, the executive director of the California Reinvestment Coalition.
OP-ED: THE HILL
Banks are choosing to be complicit in Trump’s anti-immigrant agenda by asking for this information, despite the fact that U.S. citizenship is not required to open or maintain a bank account.
This is far from the alluring vision of life in a rental home that Invitation Homes has promoted since Blackstone, the world’s largest private equity firm, built the company on the wreckage of the foreclosure crisis.
“We aren’t concerned that it’s not going to help—we’re concerned it’s going to hurt,” said Paulina Gonzalez, the executive director of the California Reinvestment Coalition, which has publicly pushed back on the Opportunity Zone initiative as structured.