Press Releases

CRC, 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…

CRC 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,…

CRC 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…

CRC 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…

Paulina 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.

CRC to Recognize Top Community Leaders, Organizations at Return of Annual Celebration

For Immediate Release Event will celebrate resilience in BIPOC and low-to-moderate income communities in California and recognize top California community leaders. LOS ANGELES, Sept. 2, 2022 — The California Reinvestment Coalition (CRC) is pleased to announce the re-launch of its annual award celebrations, which will take place in…

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.