CRC Statement on Sale of First Republic Bank to JPMorgan Chase

May 25, 2023 by

When federal regulators sold failed First Republic Bank to JPMorgan Chase earlier this month without conditions, they took extraordinary measures to protect wealthy depositors but neglected the needs of vulnerable California communities. Overnight, customers of California-based First Republic became customers of JPMorgan Chase, the nation’s largest bank that currently…

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CRC Releases 2023 Impact Report on CDFI Grant, Capacity-Building Program 

March 21, 2023 by

For Immediate Release Contact: Brian M. Maxey, 510-813-7552 New report explores how California Reinvestment Coalition’s Resilience Fund program empowered BIPOC-led community development financial institutions to expand their reach.    LOS ANGELES, March 21, 2023 — The California Reinvestment Coalition (CRC) enabled 11 California-based developing and existing Community Development Financial…

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CRC Issues Statement on Silicon Valley Bank Collapse

March 10, 2023 by

SAN FRANCISCO – California Reinvestment Coalition CEO Paulina Gonzalez-Brito offered the following statement Friday after it was announced that federal regulators had assumed control of Silicon Valley Bank (SVB), after depositors and many of the bank’s backers pulled out when its stock began to tank earlier this week. “The…

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CRC Responds to Supreme Court Decision on CFPB Funding Ruling

February 27, 2023 by

LOS ANGELES – In response to today’s Supreme Court decision to hear a case in which the Fifth U.S. Circuit Court of Appeals’ ruling attacked the funding mechanism of the Consumer Financial Protection Bureau, California Reinvestment Coalition (CRC) CEO Paulina Gonzalez-Brito offered the following comment: “We’ve long understood Wall…

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CRC and Over 50 Organizations Submit Letter Opposing Luther Burbank Savings-Washington Federal Bank Merger

February 07, 2023 by

Feb. 7, 2023 Climate change financing, displacement mortgages, CFPB attacks and racial lending disparities are key reasons groups urge FDIC to ‘deny this merger application’     SAN FRANCISCO – The California Reinvestment Coalition (CRC) announced today that it has—alongside more than 50 national, state and local community, civil rights,…

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