CRC, Partners Submit Comment Letter on Section 1071
SAN FRANCISCO – The California Reinvestment Coalition along with more than 60 California-based organizations last week submitted a comment letter to the Consumer Financial Protection Bureau on the proposed Section 1071 small business data collection rule. The rule would require the Consumer Financial Protection Bureau to collect critical data…
Read MoreCommunity Reinvestment Groups Commend Repeal of Disastrous Trump-era CRA Rule Changes
In response to the OCC’s rescission of its Trump-era 2020 Community Reinvestment Act rule, the National Community Reinvestment Coalition and the California Reinvestment Coalition agreed to dismiss their lawsuit challenging the rule.
Read MoreCRC Statement on FDIC’s Action to Review Bank Mergers
SAN FRANCISCO, Dec. 10, 2021 – CRC Executive Director Paulina Gonzalez-Brito issued the following statement today in response to the board of the Federal Deposit Insurance Corporation’s (FDIC) announcement to initiate a review of guidlines on bank mergers. “We applaud the FDIC’s move to review guidlines on bank mergers….
Read MoreCRC Statement on Kyle Rittenhouse Verdict
The Kyle Rittenhouse verdict shows us that the United States will uphold white supremacy. Sadly, this is the legacy of our nation — one that legitimizes and validates violence against Black people.
Read MoreCRC and Over 60 Organizations Submit Letter Opposing U.S. Bancorp-MUFG Union Bank Merger
The California Reinvestment Coalition along with 50 community-based organizations on Monday submitted a comment letter to bank regulators formally opposing the proposed merger of U.S. Bancorp and MUFG Union Bank unless the banks make significant community reinvestment commitments.
Read MoreCRC, The Greenlining Institute, and Banc of California Announce $1.4 Billion Community Benefits Agreement
SAN FRANCISCO, Oct. 6, 2021 – Banc of California, the California Reinvestment Coalition (CRC), and The Greenlining Institute announced today a $1.4 billion, five-year community benefits agreement that will increase financial resources to low- and moderate-income people and communities throughout California. Under the agreement, Banc of California will institute…
Read MoreGov. Newsom Signs First-in-the-Nation Legislation on Universal Access to Free Banking Services
AB 1177, the California Public Banking Option Act, Initiates Innovative Program to Close the Financial Services Gap that Leaves 1 in 4 Californians Unbanked or Underbanked Sacramento, CA – Labor and community sponsors of the California Public Banking Option Act released the following statement following Gov. Newsom’s historic…
Read MoreCRC Applauds Senate Confirmation of Chopra to CFPB Director
Press Contact: Brian Maxey (559) 286-7705 bmaxey@calreinvest.org or press@calreinvest.org California Reinvestment Coalition (CRC) applauds the U.S. Senate confirmation of Rohit Chopra as Director of the Consumer Financial Protection Bureau (CFPB). Chopra was confirmed 50 to 48 on Sept. 30. CRC Executive Director Paulina Gonzalez-Brito offered the following comment: “We…
Read MoreCRC’s Gonzalez-Brito Speaks at U.S. House Financial Subcommittee Hearing
SAN FRANCISCO – CRC Executive Director Paulina Gonzalez-Brito (they/them/elle) spoke before the U.S. House Financial Committee Subcommittee on Consumer Protection and Financial Institutions on Wednesday, Sept. 29 about the banking system and the negative effects of consolidation and technology on working-class communities and communities of color in a hearing…
Read MoreLawsuit Paused After OCC Moves To Fully Rescind Disastrous 2020 CRA Rule Changes
Today, the Office of the Comptroller of the Currency (OCC) proposed to fully rescind its 2020 Community Reinvestment Act (CRA) rule, revert to previous rules and then work on new rules jointly with the two other agencies that enforce the law, the Federal Reserve Board and the Federal Deposit…
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