Press Releases

California Legislature Debates Extending Predatory Loan Pilot Program Targeting Communities of Color

SACRAMENTO, May 19th, 2020 – The Assembly Finance and Banking Committee heard arguments on extending Assembly Bill 2196, the Pilot Program for Increased Access for Responsible Small Dollar Loans.  Started in 2014, the program was designed to increase consumer’s access to capital by encouraging a more robust small dollar…

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California Reinvestment Coalition, Democracy Forward Seek Records on Trump Administration’s Paycheck Protection Program

WASHINGTON, May 12th, 2020 – Democracy Forward and the California Reinvestment Coalition filed a Freedom of Information Act request for all records on the guidance the Office of the Comptroller of the Currency (OCC) provided financial institutions for tracking how loans were distributed to small businesses owned by women…

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Advocates Call for Monitoring to Ensure Relief is Reaching Immigrant Owned and Small Businesses of Color

SAN FRANCISCO, April 14, 2020 – Small business owners, non-profit lenders, and the California Reinvestment Coalition comprised of over 300 community organizations share concerns that capital relief from the stimulus bill (also called the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act) is not supporting some…

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Over 100 California Community Organizations and Leaders Call for Banking Regulators to Stop Planned Revamp of Anti-Redlining Law during COVID19 Crisis

SAN FRANCISCO, April 6, 2020 – Worker, Housing, and Small Business advocates call on all resources to be dedicated to saving lives and responding to Coronavirus San Francisco–Amongst an unprecedented public health crisis that threatens hundreds of thousands of lives, as small businesses are shuttered across California and the nation,…

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Senate COVID-19 Response Package Falls Well Short of What’s Required to Protect Our Communities

SAN FRANCISCO, March 26, 2020 – The United States Senate recently passed a coronavirus response package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, intended to provide health resources and economic relief in the wake of the COVID-19 pandemic. California Reinvestment Coalition Executive Director Paulina Gonzalez-Brito issued the…

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California Coalition Demands that the Office of the Comptroller of the Currency Freeze Community Reinvestment Act Public Rulemaking Underway Amidst the COVID-19 Public Health Crisis and Push for More Resources Dedicated for Response

SAN FRANCISCO, March 19, 2020 –The emerging COVID-19 epidemic is a massive threat to the health and safety of the public; imperiling the health of many people in the United States and disrupting the daily life of everyone. It’s impacts will last for months. We are in a drastically…

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BREAKING: Lawsuit Compels Trump Administration to Commit to Finalizing Protections Against Lending Discrimination

SAN FRANCISCO, February 26, 2020 –For Years, CFPB Unlawfully Stalled Progress on Info Needed to Help Women-Owned, Minority-Owned & Small Businesses Access Credit In Milestone Settlement, CFPB Agrees to Enforceable Deadlines and Court Status Reports on Progress Toward Collection & Disclosure of Small Business Lending Data  Administration Reversed Course…

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CRC statement on Extension of CRA comment period

SAN FRANCISCO, February 21, 2020 –Paulina Gonzalez, the Executive Director of the California Reinvestment Coalition issued the following statement in response to today’s news that OCC Comptroller Joseph Otting Office is going to extend the comment period on the proposed CRA rule for an additional 30 days: “When asked…

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CRC to Share Findings of Fake Public Comments During ‘Too Big to Fail’ Merger under OCC Comptroller Joseph Otting’s Tenure as Bank’s CEO

SAN FRANCISCO, February 5, 2020 – CRC and Public Citizen Call for Investigation and Full Accounting of AstroTurf Campaign During Otting’s Tenure Prior to CRA RuleMaking Process Public Comment  Washington D.C. – On Thursday, February 6th, 2020, The House Financial Services will hold a hearing “Fake It Till They…

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California Reinvestment Coalition Welcomes Governor Newsom’s Efforts to Revamp the California Department of Business Oversight to Better Protect Consumers and Borrowers

SAN FRANCISCO, January 10th, 2020 – Today Governor Newsom announced a major overhaul of the California Department of Business Oversight in his 2020-2021 budget proposal to better protect consumers in light of the Trump administration’s effort to undermine the Consumer Financial Protection Bureau (CFPB). Newsom has proposed to create…

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