Press Releases

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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Coalition Calls for Federal Investigation into Impacts on Communities of Color of OneWest Bank Foreclosures

Coalition Calls for Federal Investigation into Impacts on Communities of Color of OneWest Bank Foreclosures NEW RESEARCH CONFIRMS ONEWEST FORECLOSURES CONCENTRATED IN COMMUNITIES OF COLOR, ADDING TO FAIR LENDING CONCERNS Los Angeles- CA-June 9, 2015—Today, a statewide coalition called on federal regulators to investigate a disproportionately high number of…

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Nonprofits Blast California Chamber of Commerce for Picking on Widowed Homeowners

Nonprofits Blast California Chamber of Commerce for Picking on Widowed Homeowners CHAMBER: PROTECTING WIDOWED HOMEOWNERS IS A “JOBS KILLER” Sacramento, CA: May 28, 2015–The California Chamber of Commerce is holding its annual “Capitol Summit”meeting this week, and two statewide nonprofits are calling on the Chamber to reverse its position…

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CRC Statement on “Christmas in May” Shelby Bill Giveaway to Bank Lobbyists

CRC Statement on “Christmas in May” Shelby Bill Giveaway to Bank Lobbyists May 21, 2015- San Francisco, CA- Today, California Reinvestment Coalition Executive Director Paulina Gonzalez released this statement about the party-line vote approving Senate Banking Committee Chairman Richard Shelby’s draft legislation, the Financial Regulatory Improvement Act of 2015….

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New Survey finds ATM Fees Are a Major Expense, Major Hassle for Public Assistance Recipients

New Survey finds ATM Fees Are a Major Expense, Major Hassle for Public Assistance Recipients RESPONDENTS SHARE FRUSTRATION AT LOSING THEIR BENEFITS TO ATM FEES Oakland, California- May 5, 2015- Earlier today, the California Reinvestment Coalition (CRC) released the results of a new survey of people who pay fees…

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California Reinvestment Coalition Negotiates $11 Billion Reinvestment Commitment as part of City National and RBC Merger

California Reinvestment Coalition Negotiates $11 Billion Reinvestment Commitment as part of City National and RBC Merger CRA PLAN IS MORE THAN DOUBLE WHAT ONEWEST BANK PROPOSES April 23, 2015-Los Angeles— Today, the California Reinvestment Coalition announced that its members successfully negotiated a new Community Reinvestment plan as part of…

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CRC Executive Director Speaks at CFPB Field Hearing on Payday Loans

CRC Executive Director Speaks at CFPB Field Hearing on Payday Loans RULES WILL ADDRESS PERSISTENT PROBLEMS THOUGH POTENTIAL LOOPHOLES REMAIN March 26, 2015, Richmond, VA—Paulina Gonzalez, executive director of the California Reinvestment Coalition(CRC), spoke earlier today at a CFPB field hearing. During the hearing, the CFPB previewed the proposed…

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CFPB Proposed Payday Rules Fill California Consumer Protection Void

CFPB Proposed Payday Rules Fill California Consumer Protection Void RULES WILL PROVIDE MUCH NEEDED PROTECTIONS FOR CALIFORNIA CONSUMERS March 26, 2015—Richmond, VA- Paulina Gonzalez, the executive director of the California Reinvestment Coalition (CRC), will be speaking today at a CFPB field hearing focused on payday lending, during which the…

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$19 Million in ATM Fees Charged Annually to CalWORKs Recipients to Shrink under Proposed California State Contract

$19 Million in ATM Fees Charged Annually to CalWORKs Recipients to Shrink under Proposed California State Contract CONSUMERS: “PROPOSAL IS GOOD STEP FORWARD, BUT MORE CAN BE DONE TO REDUCE THE ATM FEES WE HAVE TO PAY TO OBTAIN OUR BENEFITS” March 11, 2015 Sacramento- A new draft Request…

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