Press Releases

At CFPB’s Small Business Hearing, LA Community Leaders Will Offer Support for Increased Transparency

CFPB CAN HELP IDENTIFY AND ADDRESS DISPARITIES IN SMALL BUSINESS LENDING Los Angeles, CA May 9, 2017—Tomorrow, community leaders will attend and speak at a field hearing held by the Consumer Financial Protection Bureau (CFPB) in Los Angeles focused on small business lending. The hearing is expected to address…

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If CFPB is Weakened by Rep. Hensarling, Companies Like Ocwen Won’t be Held Accountable

San Francisco, CA April 20—Paulina Gonzalez, executive director of the California Reinvestment Coalition released the following statement in response to the CFPB’s lawsuit against Ocwen, a mortgage servicer who, according to the CFPB, “failed borrowers throughout the mortgage servicing process.” Twenty states also announced cease-and-desist orders today against Ocwen…

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CRC: Rep. Hensarling’s “Choice Act” is the Absolute Wrong Choice for California Families

CALIFORNIANS SHOULD GUARD THEIR WALLETS IF BILL MOVES FORWARD San Francisco, CA, April 25, 2017—Today, Representative Jeb Hensarling, Chair of the House Financial Services Committee introduced a bill (“the Free Choice Act”) that would undermine key provisions of the Dodd Frank Wall Street Reform Act, and also dramatically weaken…

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California Reinvestment Coalition Applauds Downgrade in Wells Fargo’s New CRA Rating

WELLS FARGO “NEEDS TO IMPROVE” ITS APPROACH TO COMMUNITIES March 28, 2017, San Francisco, CA—In response to Wells Fargo receiving a “double downgrade” in its Community Reinvestment Act rating (released earlier today), Paulina Gonzalez, executive director of the California Reinvestment Coalition, released this statement: “A double downgrade for Wells…

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California Reinvestment Coalition Denounces Proposed Federal Budget

Paulina Gonzalez, executive director of the California Reinvestment Coalition, released this statement in reaction to the “skinny budget” released by the president yesterday: “It’s been said that budgets are a reflection of priorities- but this budget represents a U-turn from the values that were espoused on the campaign trail…

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HUD Accepts CRC’s Redlining Complaint Against CIT Group’s OneWest Bank

COMPLAINT ALLEGES TROUBLING LENDING AND BRANCH DISPARITIES IN SOUTHERN CALIFORNIA San Francisco, Feb. 15, 2017— The California Reinvestment Coalition (CRC) was notified that its redlining complaint against CIT Group has been accepted by the Department of Housing and Urban Development on Monday this week. As a result, HUD will…

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CRC Responds to Steve Mnuchin’s Confirmation as Treasury Secretary

San Francisco, CA—February 13, 2017 This evening, in the face of widespread opposition from community groups across the country, and more than 850,000 Americans who opposed his nomination, Steve Mnuchin, the former CEO of OneWest Bank, and a Goldman Sachs alum, was narrowly confirmed by a vote of 53…

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CRC Applauds Senate Dems For Denying Mnuchin Vote

In response to Senate Democrats on the Senate Finance Committee boycotting a vote on Mr. Mnuchin’s nomination until he provides truthful answers, Paulina Gonzalez, executive director of the California Reinvestment Coalition released this statement: “Steve Mnuchin has shown a penchant for “alternative facts” when it comes to his his…

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Senators Need Answers from Steve Mnuchin on Eight Important Questions

Upon hearing news that Steve Mnuchin’s Senate Finance Committee vote has been delayed until tomorrow morning, Paulina Gonzalez, executive director of the California Reinvestment Coalition released this statement today: “We applaud the Senate Dems for standing up for working families who were harmed by Mr. Mnuchin’s foreclosure machine. However,…

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CRC Responds to Executive Order, Will Stand in Solidarity Against DeFacto Muslim Ban

Published January 30, 2017 12:41 Paulina Gonzalez, executive director of the California Reinvestment Coalition, released the following statement today: The California Reinvestment Coalition stands in solidarity with our brothers and sisters in fierce resistance across California and across the country against the unconstitutional, unethical, and immoral executive order put…

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