California Coalition applauds Supreme Court decision in favor of federal consumer protection agency; decries ongoing industry attacks on consumer protection, civil rights, climate justice

In response to the Supreme Court’s decision in the case of CFPB v CFSA, Rise Economy CEO Paulina Gonzalez-Brito and Chief of Legal and Strategy Kevin Stein issued the following statement on behalf of Rise Economy and its 300 plus member organizations: “We are gratified to see the Supreme…

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California Reinvestment Coalition Announces Rebrand as Rise Economy

Media Contact Brian Maxey, bmaxey@rise-economy.org, 510-813-7552 The statewide economic, housing and racial justice nonprofit unveils new visual identity as part of strategic alignment.     LOS ANGELES,  June 12, 2023 — Fit to meet the moment with its bold, modern and innovative new identity, the California Reinvestment Coalition (CRC) today…

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CRC Statement on Sale of First Republic Bank to JPMorgan Chase

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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California Reinvestment Coalition Celebrates Community Leaders with Equitable Futures Awards

Annual event recognizes individuals, organizations in California who are making an impact on BIPOC and low-to-moderate-income communities.    SAN FRANCISCO, March 31, 2023 — The California Reinvestment Coalition (CRC), a statewide leader in housing, economic and racial justice advocacy, continues its annual tradition next month by celebrating the people…

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CRC, California Advocate Groups Respond to CFPB’s Final Section 1071 Rule 

Contact: Brian M. Maxey, bmaxey@calreinvest.org 510-813-7552   The finalized rule increases transparency, addresses inequities in lending to BIPOC and women-owned small businesses.    LOS ANGELES, March 30, 2023 — In a move years in the making, the Consumer Financial Protection Bureau (CFPB) announced today that it has issued a finalized rule…

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CRC Urges Federal Regulators to Condition Sale of Silicon Valley Bank

For Immediate Release Contact: Brian M. Maxey, bmaxey@calreinvest.org With support from 20,000-person petition, CRC asks feds to honor existing community benefits agreement, protect affordable housing projects   SAN FRANCISCO, March 24, 2023 — The California Reinvestment Coalition today delivered a petition signed by more than 20,000 people urging the…

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CRC Responds to Second Circuit Court Ruling on CFPB Constitutionality

LOS ANGELES, March 23, 2023 – The California Reinvestment Coalition responded today to news that the Second Circuit Court of Appeals unanimously declared the funding structure of the Consumer Financial Protection Bureau (CFPB) is constitutional. “We’re glad to see the Second Circuit Court of Appeals affirm what we believed…

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

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 Calling for Bank Merger Freeze in Aftermath of Bank Failures

Greater regulatory scrutiny and a focus on community commitments are needed amid the collapses of Silicon Valley and Signature banks.   SAN FRANCISCO – In wake of the recent failures of Silicon Valley Bank (SVB) and Signature Bank, the California Reinvestment Coalition on Monday called on federal and state…

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CRC Issues Statement on Silicon Valley Bank Collapse

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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