Confirmation of Representative Mel Watt Important Step Forward for Housing Recovery

Confirmation of Representative Mel Watt Important Step Forward for Housing Recovery December 10, 2013–In response to today’s Senate vote to confirm Representative Mel Watt as the next director of the Federal Housing Finance Agency, Kevin Stein, Associate Director of the California Reinvestment Coalition, released this statement: “The California Reinvestment…

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Fresno City Council Votes to Move Forward on Restricting Payday Lenders

Fresno City Council Votes to Move Forward on Restricting Payday Lenders Fresno- November 22- The Fresno City Council voted yesterday to move forward on the legislative process to enact an ordinance restricting new payday lenders in the city. If enacted, the ordinance would require lenders to obtain a conditional…

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Celebrating Community Heroes in Los Angeles

Celebrating Community Heroes in Los Angeles Los Angeles- On a beautiful Thursday, November 7, evening, CRC members and friends gathered to celebrate Los Angeles Reinvestment. More than one hundred people filled a room at the Music Center of Los Angeles County, to honor the important work of community heroes,…

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JPMorgan Chase Settlement: Good Steps Forward, But More Should Be Done

JPMorgan Chase Settlement: Good Steps Forward, But More Should Be Done November 19, 2013—Responding to reports of a final settlement between the US government and JPMorgan Chase, Kevin Stein, Associate Director of the California Reinvestment Coalition, released this statement: “While details are still emerging, some of the provisions in…

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Lessons from Past Mortgage Settlements Should Guide Department of Justice Settlement with JP Morgan Chase

Lessons from Past Mortgage Settlements Should Guide Department of Justice Settlement with JP Morgan Chase October 22, 2013– Amid reports of Department of Justice negotiations of a multi-billion dollar settlement with JP Morgan Chase for securitizing faulty mortgages, 18 California organizations are calling for all future mortgage and foreclosure…

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Celebrating Community Heroes in Sacramento

Celebrating Community Heroes in Sacramento Sacramento–On the lovely evening of September 26, CRC members and friends gathered to celebrate Sacramento Valley Reinvestment. Almost one hundred filled the Firehouse Restaurant in old Sacramento to honor the important work of community heroes, networking and enjoying fine food and drink. (Pictures are…

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PacWest Acquisition of CapitalSource: California Community Groups Urge Federal Reserve and FDIC to Hold Hearings

PacWest Acquisition of CapitalSource: California Community Groups Urge Federal Reserve and FDIC to Hold Hearings California- October 4, 2013–A group of community organizations, led by the California Reinvestment Coalition(CRC), has requested that the Federal Deposition Insurance Corporation (FDIC) and Federal Reserve postpone Pacific Western Bank’s (PacWest) acquisition of CapitalSource…

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Recent Mortgage Developments Validate Homeowner and Housing Counselor Concerns

Recent Mortgage Developments Validate Homeowner and Housing Counselor Concerns San Francisco, CA, October 3, 2013–Three important developments this week confirmed concerns about mortgage servicing expressed by housing counselors throughout California in a state-wide survey earlier this year. A federal judge ruled in favor of surviving spouses trying to avoid…

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Bay Area City Joins Movement Against Predatory Payday Lenders

Bay Area City Joins Movement Against Predatory Payday Lenders Sunnyvale, September 25, 2013— With a backdrop of state legislative inaction on payday reform and growing national visibility on the issue, the City Council of Sunnyvale voted last night to restrict the growth of payday lenders by enacting a “cap”…

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Long Beach City Council Votes to Limit Payday Lenders, Check Cashers and Car Title Lenders

Long Beach City Council Votes to Limit Payday Lenders, Check Cashers and Car Title Lenders Long Beach, September 18, 2013–The Long Beach City Council voted 8-0 last night to enact an ordinance restricting the growth of new check cashers, payday and auto title lenders and other fringe financial entities…

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