"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... 
In response to the Consumer Financial Protection Bureau’s (CFPB) decision on Tuesday to fine Citi $25.9 million for “intentionally and illegally discriminating against credit card applicants the bank identified as Armenian American,” Rise Economy Chief Executive Officer Paulina Gonzalez-Brito released the following statement: “We commend the CFPB for taking…
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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... 
SANTA ANA, Calif. / SAN FRANCISCO, Calif.— Rise Economy, formerly the California Reinvestment Coalition, and Banc of California, N.A. (“Banc of California”), a wholly-owned subsidiary of Banc of California, Inc. (NYSE: BANC) announced today a $4.1 billion, three-year Community Benefits Plan (the “Plan”). Banc of California and Rise Economy…
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“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 →“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 →“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 on Friday convened a virtual town hall meeting to address some of the most pressing questions and discuss how the current economic landscape affects its members’ programs and advocacy projects in the wake of the collapses of Silicon Valley Bank (SVB) and Signature Bank. Last weekend, federal regulators…
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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…
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The Bank Rundown: November 2023
Rise Economy Announces Additional $6.5B Commitment…
Rise Economy Recognizes Star Advocates, Community …
Photos: 2023 Southern California Equitable Futures…
Rise Economy Applauds CFPB’s $25.9M Fine on Citiba…
Rise Economy Responds to Bank Regulators’ Final CR…
What’s So Special About Special Purpose Credit Pro…
The Bank Rundown: October 2023
Celebrating 46 Years of the Community Reinvestment…
Significant Moments from 37 Years of Rise Economy
"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... 
