The Bank Rundown: November 2023

December 01, 2023 by "We are disappointed by this concerning discovery and thankful for the vigilance of the CFPB." By Kevin Stein, Chief of Legal and Strategy A tale of two (failed bank emergency) mergers In a big victory, First Citizens Bank stepped up and committed to fund an additional  $6.5 billion for California and Massachusetts communities after our...
Read moreContinue Reading →

Rise Economy Responds to Bank Regulators’ Final CRA Rule

October 24, 2023 by Years in the making, community groups call the joint Community Reinvestment Act Rules a ‘lost opportunity to close racial wealth gaps, while acknowledging reinvestment advancements’  SAN FRANCISCO, Oct. 24, 2023 — After a lengthy multi-year review process and a lawsuit led by Democracy Forward on behalf of Rise Economy (formerly the California Reinvestment Coalition) and...
Read moreContinue Reading →

The Bank Rundown: October 2023

October 13, 2023 by "It’s one or the other. You cannot have it both ways. Communities deserve better." By Kevin Stein, Chief of Legal and Strategy What would happen if 100 CBOs wrote a letter to over 40 bank CEOs? Rise Economy Advocacy By the Numbers In September, alongside 100 of our closest nonprofit organizational friends, we sent a...
Read moreContinue Reading →

The Bank Rundown: August 2023

September 01, 2023 by

“Rise Economy was eager to meet with JPMorgan Chase even before it acquired the failed First Republic Bank. Now, we can barely contain ourselves.” By Kevin Stein, Chief of Legal and Strategy   Banc of CA proposes to more than triple its size in acquiring Pacific Western Bank Banc…

Continue Reading →

The Bank Rundown: July 2023

July 21, 2023 by

“It’s good to know how the banks and certain politicians really feel about closing racial wealth gaps, fighting lending discrimination and supporting small businesses.” By Kevin Stein, Chief of Legal and Strategy Bank of America – Recent Meeting and CFPB Enforcement Action Someday your children will ask you where…

Continue Reading →

The Bank Rundown: June 2023

June 16, 2023 by Image of a First Citizens Bank branch.

“As recent bank failures expose bank management and regulatory failures, we would do well to revisit the lessons of Glass Steagall.” By Kevin Stein, Chief of Legal and Strategy   JPMorgan Chase acquires First Republic Bank First Republic Bank became the third bank to fail in the last few…

Continue Reading →

CRC Staff Reflect on 2022

December 16, 2022 by

It was another busy year for CRC. In 2022, CRC and its allies negotiated more than $80 billion in Community Benefits Agreements (CBA) for California, passed AB 1837, the Homes in Community Hands Act, equipped dozens of mid- and senior-level employees with racial and economic justice advocacy skills, and…

Continue Reading →