October 3, 2023 San Francisco: Today the Supreme Court will hear oral arguments in the case, Consumer Financial Protection Bureau v. Consumer Financial Services Association of America (CFPB v CFSA), in which payday lenders are challenging the constitutionality of the Consumer Financial Protection Bureau’s (CFPB’s) funding structure. The outcome of this case will have tremendous…
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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 leaders worked collaboratively to develop the…
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Grady B. Hedgespeth, Assemblymember Isaac Bryan and the Esperanza Community Housing Corporation to be recognized at annual fall event.   LOS ANGELES, Sept. 29, 2023 — Rise Economy, formerly the California Reinvestment Coalition (CRC), will continue its annual tradition of celebrating the people and organizations that are making a positive impact in California communities on…
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For Immediate Release Media Contact Brian M. Maxey, 510-813-7552 bmaxey@rise-economy.org   With Sonoma-based Creser Capital Fund’s CDFI certification, Rise Economy furthers its mission of launching the next generation of BIPOC-led CDFIs.    SAN FRANCISCO, Sept. 14, 2023 — Loan seekers in Sonoma County will have more options for services now that Creser Capital Fund (CCF)…
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For Immediate Release Sept. 7, 2023 Media Contact: Brian M. Maxey bmaxey@rise-economy.org, 510-813-7552   ‘We are urging CEOs of major banking institutions to explicitly state their positions on these crucial issues and to reform their lobbying and litigation tactics’   SAN FRANCISCO – Rise Economy, formerly the California Reinvestment Coalition, alongside 100 national, state and…
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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 of California would grow to over…
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Rise Economy’s Action and Advocacy Colloquium series facilitated in-person strategizing and connecting among members By Madison D’Ornellas, Digital Communications Associate Every day up and down California, Rise Economy members are helping shape their communities. Twice this month — first in Oakland on Wednesday, Aug. 9 and then in Los Angeles on Wednesday, Aug. 16 —…
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FOR IMMEDIATE RELEASE   Media Contact Brian Maxey, bmaxey@rise-economy.org, 510-813-7552 Money trail shows banks financed climate change with funds meant for vulnerable small businesses; Small Tri Counties Bank identified as top PPP lender to oil and gas operations in California; Chase and Well Fargo identified as top national lenders.   LOS ANGELES, Aug. 2, 2023…
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Rise Economy, formerly the California Reinvestment Coalition, added Jillian Spindle and Hermán Barahona to its Board of Directors. Their three-year terms began in June. Spindle will serve as the board treasurer, replacing William Pavao, who retired from the board earlier this year.  Spindle serves as the Chief Operating Officer at the Mission Economic Development Agency,…
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Rise Economy facilitated a conversation with CRA champions on what it takes to move legislation to the finish line By Madison D’Ornellas, Digital Communications Associate Rise Economy on Wednesday brought together fellow economic and housing justice advocates to discuss the pathways toward a California-specific, stronger Community Reinvestment Act (CRA), and how states on the east…
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“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 you were when we held our…
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On this day in 2011, the Consumer Financial Protection Bureau (CFPB) was founded. And for 12 years, the Bureau has been committed to fighting for financial protection, equity and billions in relief for Black, Indigenous and People of Color (BIPOC) and Low-to-Moderate Income (LMI) communities.  In 12 years, the CFPB has worked to ensure transparency…
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After their first year as members of Rise Economy’s inaugural Resilience Fund Program, participants reflect on their struggles and successes during the program By Madison D'Ornellas, Digital Communications Associate Rise Economy’s inaugural Resilience Fund cohort has placed itself at the forefront of programs working to build a new crop of BIPOC-led Community Development Financial Institutions...
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San Francisco City Hall lit up for Juneteenth. Photo credit: Adobe Stock   By Doni Tadesse and Aliyah Shaheed, Southern California and Northern California Organizers Today we celebrate and reflect.  We celebrate the resilience, strength and triumph of Black folks in the face of profound adversity. We reflect on the progress we have made as...
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“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 months. The Federal Deposit Insurance Corporation…
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The San Francisco skyline against a backdrop of smoke and haze from wildfires. Photo credit: Adobe Stock By Jamie Buell, Research Analyst News outlets and social media have recently been flooded with headlines in recent weeks about New York City having the worst air quality in the world due to smoke from unprecedented Canadian wildfires…
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Get to know our new name and new look By Brian M. Maxey, Chief of Communications If you’re familiar with our work, then you might notice things look a bit different. Today, we’re launching our new name and visual identity, complete with a new logo and redesigned website. California Reinvestment Coalition is now Rise Economy….
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Media Contact Brian Maxey, bmaxey@rise-economy.org, 510-813-7552 The statewide economic, housing and racial justice nonprofit unveils new visual identity as part of strategic alignment.     LOS ANGELES,  June 12, 2023 — Fit to meet the moment with its bold, modern and innovative new identity, the California Reinvestment Coalition (CRC) today unveiled its new name, Rise Economy,…
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A discussion hosted by CRC touched on how each sector of climate resiliency—policy, research and local organizing— can work together to liberate disadvantaged communities from the inequitable effects of climate change.   CRC on Thursday hosted a virtual panel discussion that brought climate justice advocates together to discuss the impacts of climate change on California…
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Clarence Williams, a highly-regarded thought leader in the field of economic development and community development finance in Northern California, passed away on Monday, May, 8. He was 75. Clarence was one of CRC’s longest-tenured board members prior to his retirement in January after serving more than 30 years. “Clarence’s dedication to promoting racial and economic…
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CRC on Thursday, April 27 hosted nearly 150 people for its Northern California Equitable Futures Awards at Oeste Bar in Oakland. The second-annual event recognizes community heroes, resiliency builders, and difference-makers who have impacted the lives of people in Northern California. This year’s honorees included CEO of Visionary Home Builders of California Carol J. Ornelas…
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The California Reinvestment Coalition’s 2023 Equitable Futures Awards two-event series started off with a bang Thursday, April 27 in Oakland.  Nearly 150 CRC members, allies, banking industry representatives and elected officials gathered under an eastbay sunset and string lights to celebrate two incredible advocates and one outstanding people-first organization that have set the building blocks…
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After making it through two legislative committees, SB 594 heads to the Senate Appropriations for crucial vote.  Californian tenants and workers are another step closer to critical protections from abuses by large corporations that hide behind the current limited liability company (LLC) structure after lawmakers voted to pass SB 594, the LLC Owner Transparency Act. …
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CRC has recognized community leaders and organizations across California that have made a positive impact in their local communities with service awards for more than two decades. This year, we will recognize three stellar leaders—an advocate for quality affordable housing in the Central Valley, the director of the Consumer Financial Protection Bureau, and The People’s…
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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 assumed control of SVB and then…
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This Women’s History Month, we’re reflecting on the likes of Dolores Huerta and Angela Davis whose invaluable contributions to organizing improved the lives of working-class People of Color. We’re remembering Sasheen Littlefeather, Shirley Chisholm and Marsha P. Johnson, who were unwavering in the face of discrimination and white supremacy. And as we uplift, celebrate and…
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The California Reinvestment Coalition is pleased to announce that Chancela Al-Mansour, Executive Director of the Housing Rights Center, has been elected chair of its Board of Directors. Her three-year term began on Jan. 25.  Al-Mansour has served on the board as a trustee for more than two decades. She succeeds Sharon Kinlaw, who retired from…
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In honor of Black History Month, we asked CRC Staff to share recommendations for books written by Black authors that have inspired, motivated and moved them to become better allies and advocates for equity. Whether it’s a children’s book, a novel or a memoir, each of these books is told through the lens of Black…
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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 administered $4 million in grants to…
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CRC has a brief conversation with Monica Joe, a member of CRC’s second Racial and Economic Justice Cohort. The cohort creates a space for relationship building, personal development, and organizational development through a racial justice lens for CRC members. Name and organization: Monica Joe, Senior Racial Equity & Inclusion Program Manager, Non-Profit Housing Association of…
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CRC members, activists, bankers, organizers and supporters packed Lokels Only Cafe in Los Angeles on Thursday, Nov. 3 for CRC’s Southern California Equitable Futures Awards celebration. After a two-year hiatus, the event returned — with a new name — to honor Chancela Al-Mansour, the California Public Banking Alliance, the SEIU California State Council, and Asm….
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Nearly 150 people attended CRC’s Southern California Equitable Futures Awards on Thursday, November 3 at Lokels Only Cafe in Los Angeles. The event was created to recognize Southern California’s community heroes, resiliency builders, and difference-makers. The California Public Banking Alliance, the SEIU California State Council, Assemblymember Miguel Santiago (D-53), and Chancela Al-Mansour, Executive Director of the…
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Oakland, Calif. — More than 100 CRC members, bankers and allies gathered Thursday, Sept. 22 to celebrate the unwavering work by Northern California communities and recognize the critical work of resiliency-builders. The Equitable Futures Awards, formerly known as the Community Heroes Awards, was the first such in-person celebration for CRC since the pandemic forced the…
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An attorney who has represented California’s low-wage and agricultural workers against powerful agri-business actors despite political consequences. A collaboration of tenants’ unions that staged a successful rent strike against one of San Francisco’s most powerful corporate landlords. A nonprofit alliance that partnered with a California legislator to establish a new retail banking option for unbanked…
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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 Latino Community Foundation’s second-annual El Poder…
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The California Reinvestment Coalition, the Federal Reserve Bank of San Francisco, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and representatives from state agencies, community groups, US Bank and Citizen’s Business Bank held a virtual forum Tuesday to discuss the realities rural Black, Indigenous and People of Color…
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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 during a virtual joint public hearing…
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California Governor Gavin Newsom recently announced a historic $100 billion budget surplus and signed a $300 billion budget into law. At the same time, researchers published a detailed report on the widening racial wealth gap in the U.S., highlighting how wealth concentration and “the recent role of capital gains,” made during the early pandemic market…
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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 policymakers. This year, CRC met with…
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For just the second time ever on Monday, this country will celebrate Juneteenth as a national holiday. On this day, we recognize the strength and resilience of Black communities and acknowledge the continued struggle for liberation. Juneteenth is now a federal holiday, but it has been celebrated among Black communities for more than a century….
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This week, the California Reinvestment Coalition, along with about 1,000 National Community Reinvestment Coalition members, staff and allies, attended the 2022 Just Economy Conference in Washington, D.C. After two years of virtual strategizing and mobilizing, NCRC members got to network and exchange ideas in person at the two-day event. The conference featured essential elements of…
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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 hard work of getting to know…
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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 letter → Read CRC’s statement on…
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CRC Research Analyst Jamie Buell on Wednesday presented at the Fair Housing Council of Riverside County’s 2022 Housing Conference: Housing Solutions Post Pandemic. The conference brought together policymakers, Realtors, nonprofits, financial lenders and government officials to tackle California’s pressing housing market issues, including using data-driven market analysis and current fair housing trends to come up…
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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, a bill that would bring greater…
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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 of activity.

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, real estate agents and community-based organizations…
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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, mortgage lending disparities, overdraft consumer fees,…
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After a busy bank merger season in 2021, the pace continues in 2022. In addition to engaging on megabank mergers, we hope to restart meetings with banks that are not going through mergers. Check out what’s happening below and reach out to find out how to get involved.  U.S. Bank wants to Buy Union Bank:…
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The California Reinvestment Coalition is pleased to announce that it has hired Doni Tadesse as its new Southern California Organizer and Aliyah Shaheed as its new Northern California Organizer. Tadesse comes to CRC after working as a capacity builder with the Los Angeles LGBT Center where he trained and developed professionals and organizations providing care…
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An attack on American democracy unfolded before the eyes of the entire world on Jan. 6, 2021. The violent storming of the Capitol that day was a shameful attempt to overturn the 2020 election results. It was a brutal and sobering reminder that white supremacy can go unchecked in our country. One year later, we…
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A second-generation promotora, Delmis Lorenzo is carrying on a family tradition   Delmis Lorenzo has spent much of her adult life supporting members of her Los Angeles community. Her community-oriented career has taken her through roles working with asthmatic patients in clinical settings, as a Spanish translator with the First 5 program in South Central…
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Download the full letter → Read the press release →   Jerome Powell, Chairman Board of Governors of the Federal Reserve System 20th Street and Constitution Avenue N.W. Washington, D.C. 20551     Michael Hsu, Acting Comptroller Office of the Comptroller of the Currency 400 7th St SW, Washington, DC 20219     Re: The California Reinvestment…
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Now a year old, CRC’s Economic Equity Promotora Program sets its sights on improving access to the banking system for marginalized communities   For some Californians living in rural, low income or communities of color, just the act of opening a bank account might seem like a task fraught with daunting and embarrassing roadblocks —…
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Sebastian Astrada, Director, Applications Federal Reserve Bank of San Francisco 101 Market Street, San Francisco, CA 94105-1579    Re: Supplemental comments from California community groups concerning the applications by TriCo  Bancshares and Tri Counties Bank to acquire Valley Republic Bancorp and Valley Republic Bank    Dear Applications Manager Astrada and Senior Analyst Deringer,  We respectfully…
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Alan Fisher, founding director of the California Reinvestment Coalition, died Thursday, Sept. 16 surrounded by family, following a hard-fought battle with cancer. In the world of housing and economic justice, Alan was a titan who advocated for working-class families, communities of color, and small-business owners. “The world seems a little sadder today than it did…
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  The Senate Judiciary Committee on Tuesday, July 13 took up AB889, a CRC co-sponsored bill that would hold corporate landlords accountable for habitability issues and would also provide important data for creating housing policy by requiring disclosure of the actual owners of property rather than the name of an LLC. “Working families in my…
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CRC has a brief conversation with Marisabel Torres, a member of our recently launched Racial and Economic Justice Cohort. The cohort creates a space for relationship building, personal development, and organizational development through a racial justice lens for CRC members. Name and organization: Marisabel Torres, Director of California Policy, Center for Responsible Lending. What does…
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CRC has a brief conversation with Shashi Hanuman, a member of our recently launched Racial and Economic Justice Cohort. The cohort creates a space for relationship building, personal development, and organizational development through a racial justice lens for CRC members. Name and organization: Shashi Hanuman, Directing Attorney, Community Development Project, Public Counsel. What does showing…
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CRC has a brief conversation with Crissy Vo-Khuong, a member of our recently launched Racial and Economic Justice Cohort. The cohort creates a space for relationship building, personal development, and organizational development through a racial justice lens for CRC members. Name and Organization:  Crissy Vo-Khuong, Equity Impact Specialist at Capital Impact Partners. What does showing…
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Growing up, I remember hearing tales of my grandfather Leo’s fight to maintain ownership of the land that had been in our family for generations. In my hometown in North Carolina, he was the first Black man to own property in the city limits. He often faced overt acts of racism and aggression while working…
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California Reinvestment Coalition and seven Los Angeles-based small business advocate organizations urged the State to consider implementing recommendations that would prioritize equity, accessibility, transparency, and accountability around the California Small Business COVID-19 Grant Relief Program, which opened applications for business owners on Feb. 2. Business owners of colors, and those who operate small businesses in…
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As part of a series of transition team meetings, CRC and some of its members last month met with Michael Barr, who is likely to be nominated to lead the Office of the Comptroller of the Currency (OCC). If confirmed, Barr will succeed Brian Brooks, who has led the agency in an acting role since…
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Don’t be fooled by the hollow statements of the past few weeks. In the days after the Jan. 6 violent attempted coup on the nation’s Capitol, Wall Street’s calls to “end the violence” and its oblivious and cliched claim that our country is somehow “better than this” rang even more hollow than usual. Wall Street…
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In this month’s Bank Rundown, we look at a potential merger between the United State’s 11th largest bank by total assets and the 39th largest; a California loan company’s bid to become a bank; and more. CIT Bank being bought by First Citizens Bank of North Carolina In November, First Citizens Bank, a bank with…
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by Paulina Gonzalez-Brito Today marks the 20th anniversary of Kevin Stein’s tenure at the California Reinvestment Coalition. All of us at CRC congratulate and thank Kevin for his many years of service to CRC and the communities CRC and our members serve. I’ve had the pleasure of getting to know Kevin over the past six…
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By Paulina Gonzalez-Brito, Executive Director CRC When we fight we win! It’s been five years since we stood outside of the Federal Reserve building in Los Angeles protesting the OneWest/CIT merger as the banking regulators held a hearing inside. I still remember that day like it was yesterday; some of our members who stood with…
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  This past April I was walking down Valencia Street in the Mission District of San Francisco, commonly known as La Mission, a historically Latino community, the home of Carnaval, low riders, and generations of Latino families. La Mission is my adopted work home – I am a newcomer to the community, having just arrived…
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Guest Blog Post: Karla Guerra Co-Chair and Lead Organizer of CRC’s Here to Stay Initiative Hardly a week goes by without a major news story related to the Federal government targeting and hurting immigrant households. In an era with heightened xenophobia and overt racism, we are observing deteriorating human rights conditions at the southern border…
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  As co-chair of CRC’s Here to Stay Campaign and an avid advocate for immigrant youth financial access, I believe that immigrant youth have the capability to become financially stable and build their assets if, and only if, they are given the support they need through efficient systems and products. If we aspire for a…
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CRC works closely with our members and allies to build an inclusive and fair economy that meets the needs of communities of color and low-income communities throughout California. At possibly no time in recent history, has there been a greater need for our coalition to work together to ensure that banks and other corporations invest equitably in…
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By Symone Jackson Immediately following the 2016 election, immigrant rights advocacy groups like the California Reinvestment Coalition (CRC) began hearing complaints from people who expressed fears about facing discrimination, and in some cases, deportation, due to an increasingly hostile, anti-immigrant political climate. In response, CRC launched the Here to Stay Campaign and assembled a Steering…
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  Immigrants are at the core of our communities. They are our friends, family members, neighbors, and partners. They are us. All immigrants make valuable contributions to our communities every day but much of the rhetoric coming from the Trump administration criminalizes immigrant communities and fails to respect their contributions. “Public Charge” is a term…
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dev/Mission graduate at LinkedIn headquarters sponsored by Latino Community Foundation, Google, Microsoft Silicon Valley, and Mission Housing (Photo: dev/Mission) “When I considered launching dev/Mission, a non-profit focused on building tech talents in underserved communities, I had to set my savings aside to launch it because I could not get traditional financing. The lack of capital investment for immigrant communities…
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Rodnia Attiq is the owner of El Borrego Restaurant in City Heights, a low- to moderate-income neighborhood in San Diego and one of the focus areas of the city capital partnership.

Serial evictor landlords do not operate alone. By accessing funding from banks and other lenders, they are able to purchase property, and in turn, evict renters.

With every penny accounted for, Marissa and her husband sat in my office with detailed budgets to figure out how they could pay her medical bills.

Banks are rolling in it these days; between record profits in 2017 and the windfall from the December Republican-backed tax cuts, banks have rebounded from 2008’s financial meltdown,

As the Senate takes up the debate on an immigration bill — and the White House ramps up deportation efforts and looks to punish immigrant families from using social services to which they are legally entitled