CRC Issues Statement Calling for Bank Merger Freeze in Aftermath of Bank Failures
Greater regulatory scrutiny and a focus on community commitments are needed amid the collapses of Silicon Valley and Signature banks. SAN FRANCISCO – In wake of the recent failures of Silicon Valley Bank (SVB) and Signature Bank, the California Reinvestment Coalition on Monday called on federal and state…
Read MoreCRC Issues Statement on Silicon Valley Bank Collapse
SAN FRANCISCO – California Reinvestment Coalition CEO Paulina Gonzalez-Brito offered the following statement Friday after it was announced that federal regulators had assumed control of Silicon Valley Bank (SVB), after depositors and many of the bank’s backers pulled out when its stock began to tank earlier this week. “The…
Read MoreCRC Responds to Supreme Court Decision on CFPB Funding Ruling
LOS ANGELES – In response to today’s Supreme Court decision to hear a case in which the Fifth U.S. Circuit Court of Appeals’ ruling attacked the funding mechanism of the Consumer Financial Protection Bureau, California Reinvestment Coalition (CRC) CEO Paulina Gonzalez-Brito offered the following comment: “We’ve long understood Wall…
Read MoreCRC and Over 50 Organizations Submit Letter Opposing Luther Burbank Savings-Washington Federal Bank Merger
Feb. 7, 2023 Climate change financing, displacement mortgages, CFPB attacks and racial lending disparities are key reasons groups urge FDIC to ‘deny this merger application’ SAN FRANCISCO – The California Reinvestment Coalition (CRC) announced today that it has—alongside more than 50 national, state and local community, civil rights,…
Read MoreCRC Welcomes 2023 Racial and Economic Justice Cohort
CRC accepted 15 nonprofit leaders to its 2023 Racial and Economic Justice Cohort, which officially kicked off Thursday. The highly-interactive, six-month program helps equip senior and mid-senior leaders with the skills to help their organizations undue the unequal distribution of wealth in California, and address the power structures that…
Read MoreCRC, BMO Harris Bank Announce More Than $40 Billion Community Benefits Plan
Five-year plan includes a $16 billion commitment for California communities. Nov. 28, 2022 – The California Reinvestment Coalition (CRC), the National Community Reinvestment Coalition (NCRC) and BMO Harris Bank today announced a more than $40 billion Community Benefits Plan U.S. communities, which includes a more than $16 billion…
Read MoreCRC Comments on U.S Bancorp Merger Approval
LOS ANGELES – The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) on Friday, Oct. 14 formally approved U.S. Bancorp’s acquisition of MUFG Union Bank. In response to the approval, CRC Chief Executive Officer Paulina Gonzalez-Brito issued the following statement: “CRC and its members,…
Read MoreCRC Responds to Leaked Racist Conversation Between LA City Councilmembers
The California Reinvestment Coalition released the following statement today in response to leaked audio capturing a racist conversation between Los Angeles City Councilmembers: “We’re both disheartened and disturbed to learn of the racist and shameful remarks made during a closed-door meeting between Nury Martinez, the LA City Councilmember who…
Read MoreCRC Comments on Lawsuit Filed against CFPB
In response to a lawsuit filed earlier this week against the Consumer Financial Protection Bureau (CFPB) by banking industry trade groups, California Reinvestment Coalition (CRC) Chief of Legal and Strategy Kevin Stein offered the following comment: “Discrimination remains one of the most pervasive harms in the banking and financial…
Read MorePaulina Gonzalez-Brito Appointed to the CalAccount Blue Ribbon Commission
The Senate Rules Committee, chaired by Senate President pro Tempore Toni G. Atkins (D-San Diego), appointed Paulina Gonzalez-Brito to the CalAccount Blue Ribbon Commission; Gonzalez-Brito fills the position for a public banking advocate and Robinson fills the position for an individual with banking expertise.
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