CRC applauds efforts by community leaders, lawmakers and Governor Newsom for signing into law a bill that curbs the power of payday lenders in California

SAN FRANCISCO, Oct 11, 2019 – Yesterday, California Governor Gavin Newsom signed into law Assembly Bill 539, the Fair Access to Lending Act. This legislation will prohibit the practice of charging unaffordable interest rates on consumer loans of $2,500 – $10,000. Existing law does not limit the interest rate…

Charging Ahead: California Reinvestment Coalition responds to Trump’s cruel immigration changes that targets and punishes low-income immigrants

SAN FRANCISCO, August 12, 2019 – Today the Trump administration pre-published a final Department of Homeland Security (DHS) rule that makes it harder for immigrants in the United States with authorized status who rely on government programs like food stamps and subsidized housing to obtain permanent immigration status, otherwise…

Over $100 Million to Go to Southern California Communities as a Result of Advocacy Group’s Anti-Redlining Complaint Against Bank Formerly Chaired by Trump Official

SAN FRANCISCO, July 29, 2019 – Today The California Reinvestment Coalition (CRC) and CIT/OneWest Bank announced a fair housing agreement around redlining allegations in Southern California. CRC alleged OneWest redlined Southern California communities by discriminating against residents living in neighborhoods of color in its branch locations, and discriminating in the…

CIT and CRC Reach Conciliation Agreement

SAN FRANCISCO, July 29, 2019 – CIT Bank, N.A, and its retail bank division OneWest Bank, have reached a conciliation agreement with the California Reinvestment Coalition (CRC), which was approved by the U.S. Department of Housing and Urban Development (HUD) related to a fair housing complaint filed with HUD…

Trump’s Housing Council: Another Land Grab from Communities of Color

SAN FRANCISCO, June 26, 2019 – Paulina Gonzalez-Brito, executive director of the California Reinvestment Coalition, released this statement in response to the White House’s announcement yesterday of a new council focused on affordable housing:

“Let’s not pretend anybody serving in this administration has ever truly cared about affordable housing or…

California Reinvestment Coalition Negotiates $9.5 Billion CRA Commitment with Mechanics Bank

SAN FRANCISCO, June 26, 2019 – Today, the California Reinvestment Coalition announced that it has negotiated a five-year Community Reinvestment Act (CRA) commitment with Mechanics Bank (OTCBB: MCHB) as part of its acquisition of Rabobank, N.A. The agreement goes into effect in January 2020 and represents billions of dollars…

Will California Legislators Leave 300,000 Immigrant Kids Behind Yet Again? 

SACRAMENTO, CA, June 15, 2019 – Today, the California Reinvestment Coalition expressed deep disappointment in Governor Newsom and California legislative leaders for their decision to exclude nearly 300,000 children from an important tax credit expansion that will be voted on next Monday, June 17th.

In his state budget, Governor Newsom…

California Advocates Criticize Trump Administration for Dismantling Protection for Payday Loan Borrowers

SAN FRANCISCO, May 15, 2019 – The California Reinvestment Coalition (CRC) submitted a letter to the Consumer Financial Protection Bureau (CFPB) yesterday, sharply criticizing the Bureau’s Trump-appointed director Kathy Kraninger, for delaying and/or eliminating an “ability to repay” requirement included in new federal rules for payday, car title, and high-cost installment…

California Coalition Sues the Trump Administration for Pulling Back on Data Collection to Protect Women-Owned, Minority-Owned and Small Businesses Against Discriminatory Lending Practices

WASHINGTON, May 14, 2019 — Today, on behalf of the California Reinvestment Coalition (CRC), Democracy Forward sued the Trump administration for defying the Dodd-Frank Act by unlawfully failing to collect and disclose data on lending to women-owned, minority-owned and small businesses. Dodd-Frank requires the Consumer Financial Protection Bureau to…

CRC Statement: Gov. Newsom, Immigrant Families Deserve Tax Credits Too

SAN FRANCISCO, May 9, 2019 – California Reinvestment Coalition executive director Paulina Gonzalez-Brito released this statement in response to a proposal to double the CalEITC tax credit, included in Governor Newsom’s revised budget released earlier today. “We applaud the Governor for proposing to double the CalEITC tax credit for…