Press Releases

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…

Read More

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…

Read More

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…

Read More

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….

Read More

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…

Read More

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…

Read More

California Reinvestment Coalition Applauds CFPB for New Rule Protecting Consumers from Forced Arbitration

NEW RULE MEANS BETTER OUTCOMES FOR CONSUMERS San Francisco, CA, July 10, 2017—Earlier today, the Consumer Financial Protection Bureau (CFPB) finalized its rule to restore consumers’ right to join together to challenge financial fraud and scams in court- instead of being forced into arbitration. “For years, bad behavior by…

Read More

California Reinvestment Coalition Respond to Troubling New Report About Payday Lending in California

CALIFORNIA SENIORS ARE LARGEST GROUP OF BORROWERS CAUGHT IN DEBT TRAP Sacramento, California-July 7, 2017— Yesterday, the California Department of Business Oversight released a new report about payday lending in California which shows that seniors are now the largest group of payday loan borrowers in California, taking out just…

Read More

CRC Responds to New Treasury Report

In response to a new report released by the US Dept. of Treasury earlier today, Paulina Gonzalez, executive director of the California Reinvestment Coalition, released this statement: “This new report reads like a wish list from the banking industry. We can’t think of a worse messenger for recommendations about…

Read More

California Reinvestment Coalition Denounces CA Reps. Who Sided With Wall Street by Voting for the Financial Choice Act

MONEY TALKS AND PREDATORY LENDERS WALK San Francisco, CA, June 8, 2017— Earlier today, the House of Representatives, on an almost party line vote, passed House Resolution 10, the so-called “Financial Choice Act.” All 14 GOP representatives from California voted for this bill. Paulina Gonzalez, executive director of the…

Read More