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 →Paulina Gonzalez-Brito, CRC Chief Executive Officer, led a panel Thursday that brought together several Latine/x leaders of existing and emerging mission-driven financial organizations for a discussion on the importance of Community Development Financial Institutions in California communities. The panel discussion titled, “The Power of CDFIs,” was part of the…
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A poor lending track record to Black and Latine/x borrowers, hundreds of loans made to predatory corporate landlords, and a lack of adequate scrutiny were among the issues CRC along with dozens of other nonprofits and community-based organizations brought to the attention of federal banking regulators Thursday, July 14…
Continue Reading →The California Reinvestment Coalition and several of its member organizations met with elected officials and representatives from financial regulatory agencies last week as part of the National Community Reinvestment Coalition’s 2022 Just Economy Conference Advocacy Week. Each year, CRC convenes a California delegation to meet with DC-based regulators and…
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Combat banking discrimination. Reduce financial disparities. Push the need for broadband access. Opportunities like this can come with learning more about how we can utilize and track the movement of cryptocurrency, a decentralized, deregulated form of investing in, buying and selling online currency. Don’t worry, we’ve done the seemingly…
Continue Reading →CRC submitted the following letter to the Office of the Comptroller of the Currency and Board of Governors of the Federal Reserve to announce its formal opposition to the proposed merger of BMO Financial Corp/BMO Harris Bank, N.A. and BancWest Holding Inc./Bank of the West. Download the full…
Continue Reading →SB 1176 establishes a requirement that would enable the DFPI to evaluate the mortgage lending of financial institutions, creating greater equity in the financial industry. California Reinvestment Coalition Executive Director Paulina Gonzalez-Brito testified before the California Senate Budget and Fiscal Review Committee on Wednesday in support of SB 1176,…
Continue Reading →In November of 2021, the California Reinvestment Coalition officially opposed the proposed merger of U.S. Bank and Union Bank, which had been announced two months earlier. There has been a whirl of activity from CRC since. Take a look at the timeline below to recap more than six months…
Continue Reading →Mergers may be good for corporations, but they’re rarely good for economic stability and financial equity for consumers — especially for Black, Indigenous and People of Color (BIPOC) and low to moderate-income (LMI) communities. That was the message delivered on Tuesday, March 8 by members of dozens of nonprofits,…
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Low- to moderate-income communities and communities of color are adversely impacted when banks merge. That’s why when Minneapolis-based U.S. Bank agreed to acquire Union Bank in September 2021, CRC and 66 of its members and allies in California opposed the merger based on potential branch closures and staff layoffs,…
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CRC Staff Suggest Essential Reading for Black Hist…
CRC Staff Reflect on 2022
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Al-Mansour, California Public Banking Alliance, SE…
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Gonzalez-Brito leads discussion on the power of CD…
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