First Republic Bank, one of the largest lenders among banks based in the San Francisco Bay Area, has fueled the displacement of families by lending to landlords who evict their tenants and drive up rents, according to a study released today.
“We want to make sure that all types of debt are being collected fairly, if they need to be collected at all,” says Paulina Maqueda Escamilla, a researcher at the California Reinvestment Coalition and graduate student at UC Berkeley Goldman School of Public Policy, who led the research…
“There’s nothing in the law that requires anybody to be a U.S. citizen or a U.S. resident,” Gonzalez says. “Anybody who is able to establish their identity is able to open an account.”
THE AMERICAN PROSPECT
Regressive taxation is a key ingredient to racism in the mass incarceration era, and a new California Reinvestment Coalition report adds a wrinkle to this distressing saga. The group of more than 300 organizations advocating for low-income communities and communities of color found similar dynamics when they…
After California released a preliminary list of potential opportunity zones, the California Reinvestment Coalition and more than two dozen other community development and civil rights groups to sent a letter to Governor Jerry Brown, a Democrat, in mid-March, urging him to take more time to study the state’s selections….
OP-ED: AMERICAN BANKER
CRA was put into place to address the refusal of banks to lend to and meet the financial needs of low- and middle-income communities. Crucially, CRA brings together communities that have been historically marginalized and denied access to banking services, and the organizations that represent them, to…
According to the California Reinvestment Coalition and Jacksonville Area Legal Aid, of the nearly 600 non-borrowing spouses who requested aid from HUD to avoid foreclosure on their homes, 317 received assistance and 132 were denied.
The California Reinvestment Coalition, which has traditionally focused on ensuring that banks reinvest in low-income neighborhoods, is also supporting the public bank effort. Executive director Paulina Gonzalez says that, “There’s a real interest in cities and states to think about what they can do to ensure that there’s…
“It may be one of the most impactful laws people have never heard of,” says Kevin Stein, deputy director of the California Reinvestment Coalition.
The front lawn of LaTrae Lewis’ modest home on Sepulveda Avenue might seem an unlikely spot for a press conference involving a bank, especially one that recently increased its California footprint through a High Desert acquisition.
SAN FRANCISCO EXAMINER
San Francisco has assembled a 16-member task force to study launching a public bank to fund affordable housing development, low-interest loans for low-income residents and cutting ties with the Wall Street banks that do not live up to The City’s social responsibility principles.
“We would strongly oppose any efforts to undermine the historic ability of state legislatures to oversee the foreclosure process,” said Kevin Stein, deputy director of the California Reinvestment Coalition. “It’s outrageous, especially at a time when the CFPB is rolling back consumer protections.”