CRC Applauds Biden Administration Announcement Proposing to Rescind Trump-era Rule Gutting Anti-Redlining Rules

CRC comments on the Biden Administration’s announcement that it will propose to rescind a Trump-era rule that rolled back essential anti-redlining protections, a welcome next move for a Trump-era rule that was unlawful and would have disastrous consequences for marginalized communities.

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CRC Selected for $50k Award to Invest in Contract Workers, Small Business Owners of Color Hardest Hit by COVID-19

FOR IMMEDIATE RELEASE   SAN FRANCISCO — The California Reinvestment Coalition will receive $50,000 in funding to assist minority entrepreneurs and 1099 workers as they recover from the COVID-19 pandemic. The grant, awarded by Kaiser Permanente, the nation’s largest integrated, nonprofit health system and NALCAB – the National Association…

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Assembly Votes to Guarantee All Californians Free Basic Banking Services

The California State Assembly approved landmark legislation that would guarantee all Californians access to basic banking services without fees or penalties. The California Public Banking Option Act, AB 1177 (BankCal), addresses the inequities in financial services acutely felt by communities that have been hardest hit by pandemic and recession:…

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CRC, The Greenlining Institute and Silicon Valley Bank Announce $11 Billion Community Benefits Plan

California Reinvestment Coalition, The Greenlining Institute and Silicon Valley Bank (SVB) announced today the creation of an $11 billion, five-year Community Benefits Plan (CBP) as part of SVB’s acquisition of Boston Private Bank. The acquisition was announced in January 2021 and is expected to close in mid-2021, subject to…

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CRC Statement on OCC’s Reconsideration of Harmful CRA Rule

The California Reinvestment Coalition’s Executive Director, Paulina Gonzalez-Brito, issued a statement on the Office of the Comptroller of the Currency’s (OCC) announcement that it would reconsider its 2020 Community Reinvestment Act rule.

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Assembly Committee Votes to Close Racial Wealth and Financial Access Gap, Approves BankCal, the California Public Banking Option Act

Nearly 200 racial and economic justice groups, faith-based organizations, businesses, and labor unions on Thursday, April 29 celebrated the Assembly Banking and Finance Committee’s approval of the California Public Banking Option Act, AB 1177 (Santiago), also known as BankCal.

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PNC Bank, NCRC Announce $88 Billion Community Investment Commitment

CRC joins PNC Bank and the National Community Reinvestment Coalition in announcing the creation of a four-year, $88 billion community benefits plan that will increase financial resources to low- and moderate-income people and communities across the bank’s entire national footprint.

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California Lawmakers Announce First-in-the-Nation Universal Banking Services Access Program

A coalition of lawmakers and financial services advocates joined to announce landmark legislation that would offer a zero-cost, zero-penalty bank account to all Californians known as the California Public Banking Option Act (AB 1177), or BankCal.

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New Report Says Calif. Landlords Are Cashing in on Homes as Millions Face Eviction

Assemblymember Mike A. Gipson and Impacted Tenants Call for Passage of the Homes for Families Bill (AB 1199), as New Report Shows 10 Billionaire Landlords have Amassed $191 Billion to Buy-Up More Properties   LOS ANGELES — The housing fate of tens of thousands of Californian families rests in…

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CRC Applauds Appointment Of Marcia L. Fudge To Head Of HUD

The California Reinvestment Coalition (CRC) applauds the U.S. Senate confirmation of Rep. Marcia L. Fudge as Secretary of the U.S. Department of Housing and Urban Development (HUD). Fudge was confirmed 66-34 on March 10.

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