Press Releases

CRC Responds to CFPB Director’s State CRA Remarks

At a joint Consumer Financial Protection Bureau-U.S. Department of Justice press event earlier this week CFPB Director Rohit Chopra applauded states that have their own versions of the Community Reinvestment Act (CRA), calling for increased resources for states that support their supervision and regulation of nonbank lenders. California Reinvestment…

California Reinvestment Coalition, National Association for Latino Community Asset Builders, and Democracy Forward Secure Court-Enforceable Deadline from CFPB to Issue Data Collection Rulemaking Critical to Small, Women-Owned, and Minority-Owned Businesses

The CFPB has informed the court it has agreed to a court-ordered deadline of March 2023 for an issuance of a final rule implementing Section 1071 of the Dodd-Frank Act.

CRC Issues Statement on Public Hearing Announcement for Proposed BMO Harris-Bank of the West Merger

CRC released a statement in response to federal regulators’ announcement of a virtual public hearing on the proposed BMOHarris-Bank of the West merger.

Governor’s Budget Blueprint Affirms California’s Commitment to Closing Financial Services and Racial Wealth Gap

Members of the community coalition supporting the CalAccount program applauded Governor Newsom’s focus on ensuring all Californians have equitable access to financial services in the May Revision Budget proposal presented on May 13th for fiscal year 2022-23.

CRC, NCRC and U.S. Bancorp Announce $100 Billion Community Benefits Plan

The California Reinvestment Coalition (CRC), the National Community Reinvestment Coalition (NCRC) and U.S. Bancorp today announced a more than $100 billion (with $60 billion dedicated to California), five-year community benefits plan as part of the bank’s planned acquisition of MUFG Union Bank.

CRC Issues Comment on Proposed Community Reinvestment Act Modernizations

The Federal Deposit Insurance Corp. (FDIC), the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency (OCC) today issued joint proposed regulations for updating requirements under the Community Reinvestment Act (CRA). CRC Executive Director Paulina Gonzalez-Brito released the following statement in response to the…

CRC Issues Statement on AGs call for Nation’s Largest Banks to Eliminate Overdraft Fees

CRC issued the following statement in response to Democratic Attorneys Generals’ call for JPMorgan Chase, Bank of America, Wells Fargo and U.S. Bank to eliminate overdraft and other “harmful junk” fees.

CRC Announces 2nd Racial and Economic Justice Cohort

The California Reinvestment Coalition is pleased to announce that it has selected 10 working professionals for its 2022 Racial and Economic Justice Cohort, an eight-month training program meant to help equip senior and mid-senior leaders with the skills to help their organizations undue the unequal distribution of wealth in…

Sen. Limón Introduces Landmark Bill Addressing Inequity in Lending and Community Divestment by Financial Institutions

FOR IMMEDIATE RELEASE Sponsored by the California Reinvestment Coalition, the California Community Reinvestment Act (SB1176) establishes a framework for evaluating the performance of financial institutions in meeting the needs of their communities. SACRAMENTO, CA – Today, Sen. Monique Limón (D-Santa Barbara) introduced the California Community Reinvestment Act (Senate Bill…

Applications are open for CRC’s Racial and Economic Justice program

LOS ANGELES – Working professionals representing organizations committed to deepening their commitments to racial and economic justice are invited to apply to the California Reinvestment Coalition’s 2022 Racial and Economic Justice (REJ) Cohort, a training program meant to help undue the unequal distribution of wealth in California and address…