Press Releases

California Leaders Urge Gov. Brown To Act After He Ends Insurer Community Investment Tax Credit

INSURERS SHOULD BE REQUIRED TO REINVEST PORTION OF THE $250 BILLION IN PREMIUMS COLLECTED FROM CA RESIDENTS Sacramento, CA- Sept. 15— Earlier this week, Governor Jerry Brown vetoed Assembly Bill 2728 (Atkins, DSan Diego) which would have re-authorized a state tax credit that incentivized insurance companies to reinvest premiums…

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LA County Board of Supervisors Passes Unanimous Motion Supporting Strong Federal Rules to Protect Consumers from High-Cost, Predatory Loans

MOTION URGES CFPB TO END “DEBT TRAP” CONSUMERS GET CAUGHT IN Los Angeles, CA-Sept. 14—Yesterday, the Los Angeles County Board of Supervisors unanimously approved a motion supporting the Consumer Financial Protection Bureau implementing strong federal rules to prevent predatory lending practices by payday, car title, and high cost installment…

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Chair Of LA County Board of Supervisors Hilda L. Solis Announces Support For Strong Federal Rules For Payday Loans

NEW CFPB RULES ARE A UNIQUE OPPORTUNITY TO STOP THE “DEBT TRAP” September 8th- Los Angeles, CA—Today, the Chair of the Los Angeles County Board of Supervisors, Hilda L. Solis, will join LA community leaders at a press conference to announce a Los Angeles County motion in support of…

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California Senate Approves Protections for Widowed Homeowner: Next Stop: Governor Brown

San Francisco, CA August 24, 2016- Earlier today, California’s Senate approved Senate Bill 1150, legislation designed to protect widows, widowers, and other heirs from unnecessary foreclosures. Senate Bill 1150 (Leno, Galgiani), the Homeowner Survivor Bill of Rights (SBOR), was approved by the Senate with 23 votes for it. The…

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California Assembly Approves Bill to Stop “Widow Foreclosures”

PROPOSED LAW WOULD BE FIRST IN THE NATION TO PROTECT SURVIVOR HOMEOWNERS San Francisco, CA August 22, 2016- Earlier today, California’s assembly moved one step closer to enacting legislation designed to protect widows, widowers, and other heirs from unnecessary foreclosures. Senate Bill 1150 (Leno, Galgiani), the Homeowner Survivor Bill…

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Paulina Gonzalez appointed to CFPB Consumer Advisory Board

San Francisco, CA—August 19, 2016—Today, the Consumer Financial Protection Bureau (CFPB) announced that Paulina Gonzalez, executive director of the California Reinvestment Coalition, has been appointed as a new member of the CFPB’s Consumer Advisory Board. Gonzalez comments: “It’s an honor to be appointed to the Consumer Advisory Board. CRC…

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Nonprofit Leaders Call on Insurance Lobbying Group to Support Transparency in COIN Reinvestment Program

San Francisco, August 16, 2016—Earlier today, 18 well-known nonprofit organizations called on the Personal Insurance Federation of California (PIFC), an insurance lobbying group, to support transparency for insurance investments in California communities, made through a state reinvestment program known as COIN (California Organized Investment Network). COIN was developed as…

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California Housing Advocates Respond to CFPB’s Final Mortgage Servicing Rules

WIDOWED HOMEOWNERS WILL BENEFIT, BUT SENATE BILL 1150 IS STILL NECESSARY TO ENSURE ACCOUNTABILITY San Francisco, August 4, 2016- The Consumer Financial Protection Bureau released its final mortgage servicing rule today, with stronger protections to prevent unnecessary foreclosures on successors-in-interest, more commonly known as “widow foreclosures.” In response, Kevin…

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California Reinvestment Coalition Applauds DOJ’s Lawsuits to Block Anthem and Aetna Mega- Insurance Mergers

July 21, 2016, San Francisco, CA– Earlier today, the U.S. Department of Justice filed lawsuits to block Anthem’s proposed acquisition of Cigna and Aetna’s proposed acquisition of Humana. Eleven states, including California, joined the Department of Justice’s challenge of Anthem acquiring Cigna. Eight states joined the challenge of Aetna’s…

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New Dept. of Business Oversight Report Finds Predatory Lending Growing in California

WITHOUT RATE CAP, LENDERS CHARGE HIGH APRs, AND NEARLY 17,000 AUTOS WERE REPOSSESSED San Francisco, CA, June 30th, 2016: In response to a new report released earlier today by the California Department of Business Oversight about consumer loans, Liana Molina, director of community engagement at the California Reinvestment Coalition…

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