Press Releases

Rep. Sanchez Discusses Impact of Payday Loans with California Community Members

CONSUMERS WILL SHARE STORIES OF USING PAYDAY LOANS WHILE COMMUNITY LEADERS DISCUSS CFPB’S NEW OPPORTUNITY TO RESTRICT PREDATORY LENDING Los Angeles, CA- September 22, 2015: Later today, Rep. Linda T. Sánchez (CA-38), local community leaders, and payday loan customers will discuss predatory payday loans at a round table discussion….

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California Reinvestment Coalition Comments on JP Morgan Chase CRA Exam

California Reinvestment Coalition Comments on JP Morgan Chase CRA Exam San Francisco, CA- Sept. 11, 2015: Last month, CRC sent an in-depth letter to regulators, commenting on JPMorgan’s 2015 Community Reinvestment Act exam. While acknowledging some positive reinvestment activities by the bank, CRC also cites a number of concerns…

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Community Organizations Respond to First Republic Bank’s New Policy to Stop Financing Displacement Mortgages

Community Organizations Respond to First Republic Bank’s New Policy to Stop Financing Displacement Mortgages San Francisco, CA- September 3, 2015- In response to a new policy announced by First Republic Bank to stop financing so-called “displacement mortgages,” 11 local community organizations released this statement today: We commend First Republic…

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Protest at First Republic Bank HQ Over Bank’s Role in Financing Evictions, Including Seniors

Protest at First Republic Bank HQ Over Bank’s Role in Financing Evictions, Including Seniors SENIORS FACING EVICTION WILL SPEAK AT PROTEST, TRY TO MEET WITH BANK CEO AND URGE BANK TO KEEP THEM IN THEIR HOMES AND STOP MAKING DISPLACEMENT MORTGAGES San Francisco, CA, Aug 18th— Later today, seniors…

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New Dept. of Defense Rule Will Protect Service members from High-Cost, Predatory Loans

New Dept. of Defense Rule Will Protect Service members from High-Cost, Predatory Loans NEW RULE CLOSES LOOPHOLES AND PROTECTS MILITARY FAMILIES San Francisco, CA- July 30, 2015- Consumer advocates are applauding a new Department of Defense rule to update the Military Lending Act, a law originally enacted in 2006….

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CRC Responds to OneWest Bank and CIT Group Merger Approval

CRC Responds to OneWest Bank and CIT Group Merger Approval July 21, 2015- San Francisco- In response to the approval of the CIT Group and OneWest bank merger,California Reinvestment Coalition executive director Paulina Gonzalez released this statement: We appreciate that the Federal Reserve and OCC did the right thing…

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In Birthday Message to CFPB, CRC and Congresswoman Zoe Lofgren Call for Strong Action against Predatory Lending Abuses

In Birthday Message to CFPB, CRC and Congresswoman Zoe Lofgren Call for Strong Action against Predatory Lending Abuses July 16 2015, San Jose, California– Five years after the enactment of the Wall Street Reform Act which created the Consumer Financial Protection Bureau, the CFPB is working on rules to…

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CRC Responds to Supreme Court Decision on Disparate Impact

CRC Responds to Supreme Court Decision on Disparate Impact In response to the Supreme Court’s decision about disparate impact announced earlier today,Paulina Gonzalez,executive director of the California Reinvestment Coalition, released this statement: “The California Reinvestment Coalition applauds today’s Supreme Court decision upholding long established tools for enforcing the Fair…

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New Report: REO to Rental Boom in California is Bad For Tenants, Bad for 1st Time Home Buyers, Bad for Communities

New Report: REO to Rental Boom in California is Bad For Tenants, Bad for 1st Time Home Buyers, Bad for Communities AS MAIN STREET BANKS FINANCE DISPLACEMENT, WILL REGULATORS ACT? Editors note: Please sign our petition to the OCC and Federal Reserve, urging them to downgrade banks that fund…

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Advocates Applaud HUD on New Reverse Mortgage Policy that Could Reduce Foreclosures on Surviving Spouses

Advocates Applaud HUD on New Reverse Mortgage Policy that Could Reduce Foreclosures on Surviving Spouses REVERSE MORTGAGE SERVICERS URGED TO ADOPT NEW POLICY AND STOP FORECLOSURES June 15, 2015– Washington, DC: Last Friday, the U.S. Department of Housing and Urban Development released an updated policy that gives reverse mortgage…

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