LOS ANGELES – The Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) on Friday, Oct. 14 formally approved U.S. Bancorp’s acquisition of MUFG Union Bank. In response to the approval, CRC Chief Executive Officer Paulina Gonzalez-Brito issued the following statement: “CRC and its members,…
Continue Reading →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.
Continue Reading →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.
Continue Reading →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…
Continue Reading →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…
Continue Reading →SAN FRANCISCO, Dec. 10, 2021 – CRC Executive Director Paulina Gonzalez-Brito issued the following statement today in response to the board of the Federal Deposit Insurance Corporation’s (FDIC) announcement to initiate a review of guidlines on bank mergers. “We applaud the FDIC’s move to review guidlines on bank mergers….
Continue Reading →The California Reinvestment Coalition along with 50 community-based organizations on Monday submitted a comment letter to bank regulators formally opposing the proposed merger of U.S. Bancorp and MUFG Union Bank unless the banks make significant community reinvestment commitments.
Continue Reading →SAN FRANCISCO, Oct. 6, 2021 – Banc of California, the California Reinvestment Coalition (CRC), and The Greenlining Institute announced today a $1.4 billion, five-year community benefits agreement that will increase financial resources to low- and moderate-income people and communities throughout California. Under the agreement, Banc of California will institute…
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