The Bank Rundown: March 2024

March 14, 2024 by "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, Advocates Voice Support for CalAccount

February 23, 2024 by An image of a person speaking in front of a crowd. 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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Rise Economy and Central Valley Community Bancorp Announce Comprehensive Community Benefits Commitment

January 04, 2024 by

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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The Bank Rundown: November 2023

December 01, 2023 by "We are disappointed by this concerning discovery and thankful for the vigilance of the CFPB." By Kevin Stein, Chief of Legal and Strategy A tale of two (failed bank emergency) mergers In a big victory, First Citizens Bank stepped up and committed to fund an additional  $6.5 billion for California and Massachusetts communities after our...
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Rise Economy Responds to Bank Regulators’ Final CRA Rule

October 24, 2023 by Years in the making, community groups call the joint Community Reinvestment Act Rules a ‘lost opportunity to close racial wealth gaps, while acknowledging reinvestment advancements’  SAN FRANCISCO, Oct. 24, 2023 — After a lengthy multi-year review process and a lawsuit led by Democracy Forward on behalf of Rise Economy (formerly the California Reinvestment Coalition) and...
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The Bank Rundown: October 2023

October 13, 2023 by "It’s one or the other. You cannot have it both ways. Communities deserve better." By Kevin Stein, Chief of Legal and Strategy What would happen if 100 CBOs wrote a letter to over 40 bank CEOs? Rise Economy Advocacy By the Numbers In September, alongside 100 of our closest nonprofit organizational friends, we sent a...
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