Rise Economy and Members Meet with Federal Officials to Discuss Needs, Concerns

The series of meetings were part of NCRC’s annual virtual Advocacy Week. Rise Economy and dozens of representatives from its member organizations met with elected officials and representatives from federal financial regulatory agencies this week to discuss current legislation as well as several pressing topics ranging from Bank Merger Act reform to CRA modernizations.  The...
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Rise Economy, Members Take to Capital for Lobby Day

The day of action and advocacy saw Rise Economy meet with elected officials on housing, banking and accountability campaigns.  Rise Economy and members took to the state's capital Wednesday for a day of action and advocacy.  It has been several years since Rise Economy last organized an in-person Lobby Day. Still, the staff and the...
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The Bank Rundown: March 2024

"The WaFdl/Luther Burbank merger should not have been approved, and certainly not without significant conditions." By Kevin Stein, Chief of Legal and Strategy Sorry (insert bank name), I almost did not see you there hiding behind the ABA In recent months, banking trade groups have harmfully turned to litigation and lobbying in an attempt to...
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Rise Economy Applauds CFPB’s credit card late fee rule

In response to the Consumer Financial Protection Bureau’s (CFPB) finalized rule cutting excessive credit card late fees by closing a loophole exploited by large card issuers, Rise Economy Chief Executive Officer Paulina Gonzalez-Brito today released the following statement. “We applaud the CFPB for putting working families first by limiting…

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Rise Economy, Advocates Voice Support for CalAccount

CalAccount Blue Ribbon Commission hears from communities from across the state. Organized labor leaders and consumer financial advocates from across the state voiced their support for equitable banking services and systemic reforms this week during a series of public hearings put on by the CalAccount Blue Ribbon Commission.  The public hearings, held in Fresno, Oakland...
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SB 1201 Introduced to Support Greater Transparency, Justice for Californians 

Sacramento, Calif.— Senator María Elena Durazo (D-Los Angeles) introduced SB 1201, the Limited Liability Corporation (LLC) Owner Transparency Act, to require the owners of businesses held in LLCs and similar corporate entities to disclose their names. This information is key to enforcing a wide range of existing laws designed…

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Rise Economy Issues Statement on Bank Lobbyists Lawsuit

The press release from the American Bankers Association, U.S. Chamber of Commerce, Independent Community Bankers of America and other trade groups, on behalf of their banking and corporate members, announced a lawsuit challenging newly enacted Community Reinvestment Act rules that would result in increased support for affordable housing and…

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The Bank Rundown: January 2024

“If you are not at the table, you are on the menu.” By Kevin Stein, Chief of Legal and Strategy Who says Community Benefits commitments are just for big banks? CVCB creates a strong climate for community banks to serve their communities Rise Economy was pleased to end 2023 with a novel Community Benefits Commitment...
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Rise Economy Responds to the Release of the CFPB’s New  Overdraft Rule Proposal

In response to the new overdraft rule released today by the Consumer Financial Protection Bureau (CFPB), which aims to restore balance between American families and big financial institutions and prevent consumers from losing money due to overdraft fees, Rise Economy Chief Executive Officer Paulina Gonzalez-Brito released the following statement: …

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Rise Economy Responds to Gov. Newsom’s Proposed 2024 Budget

BIPOC, LMI Communities set to bear the brunt of deep cuts to climate change, affordable housing programs. SAN FRANCISCO — In response to California Gov. Gavin Newsom’s 2024 proposed budget announcement Wednesday, Rise Economy Chief Executive Officer Paulina Gonzalez-Brito released the following statement:  While acknowledging the challenges posed by California’s potential $37.9 billion deficit, we...
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Joining the Call for an Immediate and Permanent Ceasefire in Gaza

Rise Economy’s work is built on decades of solidarity between Jewish, Black, Asian and Brown communities, including Muslim Americans. Together we have picketed in anger, protested to ensure the voices of our community are heard, taken on financial institutions for redlining, sued the federal government, and demanded equity and…

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Rise Economy and Central Valley Community Bancorp Announce Comprehensive Community Benefits Commitment

LOS ANGELES, Jan 4, 2024 – Rise Economy (formerly the California Reinvestment Coalition) and Central Valley Community Bancorp (the Company), the parent company of Central Valley Community Bank (CVCB), announced today a comprehensive community benefit commitment that aims to foster economic vitality through targeted initiatives that include the support…

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