Governor’s Budget Blueprint Affirms California’s Commitment to Closing Financial Services and Racial Wealth Gap
Members of the community coalition supporting the CalAccount program applauded Governor Newsom’s focus on ensuring all Californians have equitable access to financial services in the May Revision Budget proposal presented on May 13th for fiscal year 2022-23.
Read MoreCRC, NCRC and U.S. Bancorp Announce $100 Billion Community Benefits Plan
The California Reinvestment Coalition (CRC), the National Community Reinvestment Coalition (NCRC) and U.S. Bancorp today announced a more than $100 billion (with $60 billion dedicated to California), five-year community benefits plan as part of the bank’s planned acquisition of MUFG Union Bank.
Read MoreCRC Issues Comment on Proposed Community Reinvestment Act Modernizations
The Federal Deposit Insurance Corp. (FDIC), the Federal Reserve Board of Governors and the Office of the Comptroller of the Currency (OCC) today issued joint proposed regulations for updating requirements under the Community Reinvestment Act (CRA). CRC Executive Director Paulina Gonzalez-Brito released the following statement in response to the…
Read MoreCRC Issues Statement on AGs call for Nation’s Largest Banks to Eliminate Overdraft Fees
CRC issued the following statement in response to Democratic Attorneys Generals’ call for JPMorgan Chase, Bank of America, Wells Fargo and U.S. Bank to eliminate overdraft and other “harmful junk” fees.
Read MoreCRC Announces 2nd Racial and Economic Justice Cohort
The California Reinvestment Coalition is pleased to announce that it has selected 10 working professionals for its 2022 Racial and Economic Justice Cohort, an eight-month training program meant to help equip senior and mid-senior leaders with the skills to help their organizations undue the unequal distribution of wealth in…
Read MoreSen. Limón Introduces Landmark Bill Addressing Inequity in Lending and Community Divestment by Financial Institutions
FOR IMMEDIATE RELEASE Sponsored by the California Reinvestment Coalition, the California Community Reinvestment Act (SB1176) establishes a framework for evaluating the performance of financial institutions in meeting the needs of their communities. SACRAMENTO, CA – Today, Sen. Monique Limón (D-Santa Barbara) introduced the California Community Reinvestment Act (Senate Bill…
Read MoreApplications are open for CRC’s Racial and Economic Justice program
LOS ANGELES – Working professionals representing organizations committed to deepening their commitments to racial and economic justice are invited to apply to the California Reinvestment Coalition’s 2022 Racial and Economic Justice (REJ) Cohort, a training program meant to help undue the unequal distribution of wealth in California and address…
Read MoreCRC Welcomes Inaugural Resilience Fund Cohort
Eleven nonprofit organizations to receive grant funding, resources under this $4.5 million collaborative between the California Reinvestment Coalition, the San Francisco Foundation, banks and foundations. LOS ANGELES, Feb. 7, 2022 — Eleven nonprofit organizations from California with ambitions of changing the way capital reaches communities of color have…
Read MoreCRC comments on the announcement of public hearing for U.S. Bank-Union Bank Merger
San Francisco – In response to an announcement earlier today that the Federal Reserve and the Office of the Comptroller of the Currency (OCC) will hold a joint public hearing about the proposed bank merger of Union Bank into U.S. Bank, Chief of Legal and Strategy Kevin Stein released…
Read MoreCRC, Partners Submit Comment Letter on Section 1071
SAN FRANCISCO – The California Reinvestment Coalition along with more than 60 California-based organizations last week submitted a comment letter to the Consumer Financial Protection Bureau on the proposed Section 1071 small business data collection rule. The rule would require the Consumer Financial Protection Bureau to collect critical data…
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