Press Releases

Trump’s Housing Council: Another Land Grab from Communities of Color

SAN FRANCISCO, June 26, 2019 – Paulina Gonzalez-Brito, executive director of the California Reinvestment Coalition, released this statement in response to the White House’s announcement yesterday of a new council focused on affordable housing:

“Let’s not pretend anybody serving in this administration has ever truly cared about affordable housing or…

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California Reinvestment Coalition Negotiates $9.5 Billion CRA Commitment with Mechanics Bank

SAN FRANCISCO, June 26, 2019 – Today, the California Reinvestment Coalition announced that it has negotiated a five-year Community Reinvestment Act (CRA) commitment with Mechanics Bank (OTCBB: MCHB) as part of its acquisition of Rabobank, N.A. The agreement goes into effect in January 2020 and represents billions of dollars…

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Will California Legislators Leave 300,000 Immigrant Kids Behind Yet Again? 

SACRAMENTO, CA, June 15, 2019 – Today, the California Reinvestment Coalition expressed deep disappointment in Governor Newsom and California legislative leaders for their decision to exclude nearly 300,000 children from an important tax credit expansion that will be voted on next Monday, June 17th.

In his state budget, Governor Newsom…

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California Advocates Criticize Trump Administration for Dismantling Protection for Payday Loan Borrowers

SAN FRANCISCO, May 15, 2019 – The California Reinvestment Coalition (CRC) submitted a letter to the Consumer Financial Protection Bureau (CFPB) yesterday, sharply criticizing the Bureau’s Trump-appointed director Kathy Kraninger, for delaying and/or eliminating an “ability to repay” requirement included in new federal rules for payday, car title, and high-cost installment…

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California Coalition Sues the Trump Administration for Pulling Back on Data Collection to Protect Women-Owned, Minority-Owned and Small Businesses Against Discriminatory Lending Practices

WASHINGTON, May 14, 2019 — Today, on behalf of the California Reinvestment Coalition (CRC), Democracy Forward sued the Trump administration for defying the Dodd-Frank Act by unlawfully failing to collect and disclose data on lending to women-owned, minority-owned and small businesses. Dodd-Frank requires the Consumer Financial Protection Bureau to…

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CRC Statement: Gov. Newsom, Immigrant Families Deserve Tax Credits Too

SAN FRANCISCO, May 9, 2019 – California Reinvestment Coalition executive director Paulina Gonzalez-Brito released this statement in response to a proposal to double the CalEITC tax credit, included in Governor Newsom’s revised budget released earlier today. “We applaud the Governor for proposing to double the CalEITC tax credit for…

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Now is not the time to ease sanctions on Wells Fargo.

SAN FRANCISCO, April 4, 2019. Statement from Paulina Gonzalez-Brito, Executive Director, CRC: We believe that elected leaders should hold Wall Street accountable when big banks harm our communities. There is ample evidence that Wells Fargo’s corporate culture remains steeped in abusive practices that harm low-income families. That’s why we…

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Joint Commitment Between Community Organizations and Rabobank to Assure Access to Banking Services to California Communities

Coachella Valley, CA, March 6, 2019 – California nonprofits Lift To Rise and the California Reinvestment Coalition (CRC), together with Rabobank, N.A. (Rabobank), are pleased to announce a joint effort to assure banking opportunities in California communities. The Organizations and Rabobank are working together to identify and implement industry-leading…

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CRC to FDIC: It’s Not Hip to be Square

SAN FRANCISCO, Feb. 25, 2019 – A letter sent to the Federal Deposit Insurance Corporation (FDIC) by 37 community-based organizations charges that granting fintech credit card processing company Square a bank charter as an Industrial Loan Company would undermine the Community Reinvestment Act, allow Square to preempt local regulations,…

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Trump Policies Push Immigrants Into Poverty; U.S. Banks and Corporate Policies Create Barriers to Economic Security

SAN FRANCISCO, Feb. 13, 2019 – Despite a strong belief in the American Dream, immigrants regularly face discrimination by banks and confront other barriers to accessing financial resources, according to a study released today by the California Reinvestment Coalition (CRC). In “Here to Stay: Promoting Financial Security and Economic…

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