Press Releases

New FOIA Response from HUD Reveals 646 Percent Increase in Foreclosures against Seniors in 2016

SAN FRANCISCO, November 15, 2017 —New data from a Freedom of Information Act request,
released today, indicates that there was a 646% increase in foreclosures last year against seniors with federally
insured reverse mortgages as compared to the previous 7 years.

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Community and Religious Leaders Urge LA Board of Supervisors to Protect Neighborhoods from Predatory Lenders

SENIORS, WORKING FAMILIES, PEOPLE OF COLOR ARE HARMED BY HIGH-COST LOANS Los Angeles, Nov. 14, 2017– Earlier today, a group of more than 80 concerned religious and community leaders sent a letter to the Los Angeles County Board of Supervisors, urging the board to take action next month to address high-cost payday…

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California Reinvestment Coalition Applauds CFPB for New Federal Regulations to Protect Payday Loan Borrowers

SENIORS, COMMUNITIES OF COLOR WILL BENEFIT FROM SAFEGUARDS IN NEW RULE San Francisco, CA, October 5, 2017— In response to new payday loan rules released by the Consumer Financial Protection Bureau today, Paulina Gonzalez, executive director of the California Reinvestment Coalition, released the following statement: “Here in California, seniors were…

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New Report: California’s System for Delivering Public Benefits is Improving, but Still Room for Improvements

ACCESS TO FREE ATMs WILL INCREASE DRAMATICALLY IN 2018 San Francisco, CA, October 4, 2017 —The California Reinvestment Coalition (CRC) released a new report today focused on public benefits in California and how the delivery of those benefits can be improved to reduce costs. In a 2014 report, CRC detailed how public…

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New Report Finds Immigrants Are Going “Underground” Because of Federal Government’s Rhetoric + Policies

CALIFORNIA NONPROFITS SHARE CONCERNS IN NEW REPORT San Francisco, CA, September 28, 2017 —The California Reinvestment Coalition released a new report this week, focused on how anti-immigrant rhetoric and policies are jeopardizing the health, financial security, and safety of immigrant families. The report is based on a survey of community-based nonprofits…

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New Report: California’s Small Business Owners Face Big Finance Challenges

ADVOCATES URGE CFPB TO HELP SMALL BUSINESS OWNERS BY IMPLEMENTING 1071 SMALL BUSINESS RULE QUICKLY San Francisco, CA, September 14, 2017 —The California Reinvestment Coalition released a new report today, focused on the challenges small business owners face when trying to get a loan to start, maintain or grow…

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California Reinvestment Coalition Condemns Decision to End DACA Program

In response to the president’s announcement to rescind the Deferred Action for Childhood Arrivals (DACA) program, Paulina Gonzalez, executive director of the California Reinvestment Coalition released this statement: “Five years ago, in the tradition of the civil rights movement, undocumented young people dressed in caps and gowns, conducted sit…

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California Reinvestment Coalition Urges NO Vote on Joseph Otting as Comptroller

OTTING’S TENURE RESULTED IN WHISTLEBLOWER SETTLEMENT, REDLINING COMPLAINT, ONGOING INVESTIGATIONS Washington, DC, July 26, 2017—Today, the California Reinvestment Coalition released two fact sheets focused on Joseph Otting’s record at OneWest Bank and its subsidiary Financial Freedom, and on complaints made to the Consumer Financial Protection Bureau about the bank….

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California Reinvestment Coalition Denounces California House Republicans for Supporting the Ripoff Clause

San Francisco, CA, July 25, 2017— Earlier today, all 14 of California’s House Republicans voted to allow companies to continue sneaking the “ripoff clause” into their contracts with customers. In a nearly party line vote, House Republicans voted for H.J. Res. 111, a resolution to repeal the new Consumer…

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New Report: Installment Loans Are Causing Financial Heartburn for California Families

HIGH COST LOANS STILL PREVALENT, REFORMS ARE NEEDED Sacramento, California-July 11, 2017— Consumer advocates expressed alarm about a new report released yesterday by the California Department of Business Oversight (DBO) focused on installment lending in California. According to the report, 58% of installment loans for amounts ranging from $2,500…

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