Press Releases
CRC Negotiates California Commitment from Union Bank
CRC Negotiates California Commitment from Union Bank June 13, 2012– CRC successfully negotiated with Union Bank to increase the bank’s community commitments in light of their acquisition of Santa Barbara Bank and Trust. Over the last decade, Union Bank has grown to become the fourth biggest bank in California…
Read MoreUsing mortgage settlement funds in budget could cost CA in the long run
June 12, 2012– In Governor Brown’s May revision of the budget, he proposes spending $292 million of the national mortgage settlement to help fill the state’s budget gap this year, and the remaining $118 million next year. The majority of these funds, $198 million, will go toward paying off…
Read MoreCalifornia homeowners and advocates ask state legislators “Whose Side Are You On”, Vote on foreclosure prevention legislation next week
California homeowners and advocates ask state legislators “Whose Side Are You On”, Vote on foreclosure prevention legislation next week June 6, 2012– Over 70 California community groups, labor unions, and advocates have sent a letter to California’s Assembly members and Senators asking them “Whose Side Are You On: Banks…
Read MoreAdvocates Applaud California Congressional Delegation’s Call for Investigation into FHFA’s Lobbying Efforts Against the Homeowner Bill of Rights
Advocates Applaud California Congressional Delegation’s Call for Investigation into FHFA’s Lobbying Efforts Against the Homeowner Bill of Rights May 30, 2012– Fourteen members of the California Congressional Delegation sent a letter (PDF) to the Federal Housing Finance Agency blasting its involvement and opposition to key pieces of the Homeowner…
Read MoreSan Jose City Council Restricts Payday Lending
San Jose City Council Restricts Payday Lending May 16, 2012– In San Jose, CRC and our partners at the Public Interest Law Firm/ Law Foundation of Silicon Valley, Sacred Heart Community Service, the Alliance of Californians for Community Empowerment, the Asian Law Alliance, Catholic Charities of Santa Clara County,…
Read MoreGovernor Brown Raids Housing Counseling Funds
Governor Brown Raids Housing Counseling Funds May 16, 2012–As part of the $26 billion National Mortgage Settlement announced earlier this year, big bank scontributed $400 million to Attorney General Kamala Harris’s office to administer the relief from the settlement.Just last Friday, Attorney General Harris announced that more than half…
Read MoreCRC Statement on the Occasion of Wells Fargo’s Annual Shareholders Meeting and the 99% Stakeholders Meeting
CRC Statement on the Occasion of Wells Fargo’s Annual Shareholders Meeting and the 99% Stakeholders Meeting April 24, 2012– Today, as Wells Fargo holds their Annual Shareholders Meeting in San Francisco, hundreds of homeowners, foreclosure fighters, clergy, housing justice and immigrant rights advocates, unions, tenant rights groups, residents and…
Read MoreCRC’s Kevin Stein named to the Federal Reserve’s Consumer Advisory Council
CRC’s Kevin Stein named to the Federal Reserve’s Consumer Advisory Council Published March 29, 2011 The Federal Reserve Board has named CRC’s Associate Director Kevin Stein as one of ten new members to its Consumer Advisory Council. The Council advises the Board on a variety of consumer financial protection…
Read MoreBank Report Card Reveals True Cost of Checking Products
Bank Report Card Reveals True Cost of Checking Products Basic checking account products and fees at the nation’s biggest banks are draining the account balances of California’s low and moderate income (LMI) communities, a new report by the California Reinvestment Coalition (CRC) finds. Checking accounts will become even less…
Read MoreNew Report Shows Wall Street Costing California Homeowners, Taxpayers $650 billion
New Report Shows Wall Street Costing California Homeowners, Taxpayers $650 billion A new report shows the extent of Wall Street foreclosure costs to Californians, as state legislators and community groups announce new legislation to require Wall Street to pay for damages. The report can be found by clicking: http://www.homedefendersleague.org/wp-content/uploads/2011/03/Home-Wreckers-Report-March-16-2011.pdf…
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