New Dept. of Defense Rule Will Protect Service members from High-Cost, Predatory Loans

New Dept. of Defense Rule Will Protect Service members from High-Cost, Predatory Loans NEW RULE CLOSES LOOPHOLES AND PROTECTS MILITARY FAMILIES San Francisco, CA- July 30, 2015- Consumer advocates are applauding a new Department of Defense rule to update the Military Lending Act, a law originally enacted in 2006….

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CRC Responds to OneWest Bank and CIT Group Merger Approval

CRC Responds to OneWest Bank and CIT Group Merger Approval July 21, 2015- San Francisco- In response to the approval of the CIT Group and OneWest bank merger,California Reinvestment Coalition executive director Paulina Gonzalez released this statement: We appreciate that the Federal Reserve and OCC did the right thing…

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In Birthday Message to CFPB, CRC and Congresswoman Zoe Lofgren Call for Strong Action against Predatory Lending Abuses

In Birthday Message to CFPB, CRC and Congresswoman Zoe Lofgren Call for Strong Action against Predatory Lending Abuses July 16 2015, San Jose, California– Five years after the enactment of the Wall Street Reform Act which created the Consumer Financial Protection Bureau, the CFPB is working on rules to…

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CRC Responds to Supreme Court Decision on Disparate Impact

CRC Responds to Supreme Court Decision on Disparate Impact In response to the Supreme Court’s decision about disparate impact announced earlier today,Paulina Gonzalez,executive director of the California Reinvestment Coalition, released this statement: “The California Reinvestment Coalition applauds today’s Supreme Court decision upholding long established tools for enforcing the Fair…

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New Report: REO to Rental Boom in California is Bad For Tenants, Bad for 1st Time Home Buyers, Bad for Communities

New Report: REO to Rental Boom in California is Bad For Tenants, Bad for 1st Time Home Buyers, Bad for Communities AS MAIN STREET BANKS FINANCE DISPLACEMENT, WILL REGULATORS ACT? Editors note: Please sign our petition to the OCC and Federal Reserve, urging them to downgrade banks that fund…

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Advocates Applaud HUD on New Reverse Mortgage Policy that Could Reduce Foreclosures on Surviving Spouses

Advocates Applaud HUD on New Reverse Mortgage Policy that Could Reduce Foreclosures on Surviving Spouses REVERSE MORTGAGE SERVICERS URGED TO ADOPT NEW POLICY AND STOP FORECLOSURES June 15, 2015– Washington, DC: Last Friday, the U.S. Department of Housing and Urban Development released an updated policy that gives reverse mortgage…

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Coalition Calls for Federal Investigation into Impacts on Communities of Color of OneWest Bank Foreclosures

Coalition Calls for Federal Investigation into Impacts on Communities of Color of OneWest Bank Foreclosures NEW RESEARCH CONFIRMS ONEWEST FORECLOSURES CONCENTRATED IN COMMUNITIES OF COLOR, ADDING TO FAIR LENDING CONCERNS Los Angeles- CA-June 9, 2015—Today, a statewide coalition called on federal regulators to investigate a disproportionately high number of…

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Nonprofits Blast California Chamber of Commerce for Picking on Widowed Homeowners

Nonprofits Blast California Chamber of Commerce for Picking on Widowed Homeowners CHAMBER: PROTECTING WIDOWED HOMEOWNERS IS A “JOBS KILLER” Sacramento, CA: May 28, 2015–The California Chamber of Commerce is holding its annual “Capitol Summit”meeting this week, and two statewide nonprofits are calling on the Chamber to reverse its position…

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CRC Statement on “Christmas in May” Shelby Bill Giveaway to Bank Lobbyists

CRC Statement on “Christmas in May” Shelby Bill Giveaway to Bank Lobbyists May 21, 2015- San Francisco, CA- Today, California Reinvestment Coalition Executive Director Paulina Gonzalez released this statement about the party-line vote approving Senate Banking Committee Chairman Richard Shelby’s draft legislation, the Financial Regulatory Improvement Act of 2015….

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New Survey finds ATM Fees Are a Major Expense, Major Hassle for Public Assistance Recipients

New Survey finds ATM Fees Are a Major Expense, Major Hassle for Public Assistance Recipients RESPONDENTS SHARE FRUSTRATION AT LOSING THEIR BENEFITS TO ATM FEES Oakland, California- May 5, 2015- Earlier today, the California Reinvestment Coalition (CRC) released the results of a new survey of people who pay fees…

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