Press Releases

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

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,…

CRC Welcomes 2023 Racial and Economic Justice Cohort

CRC accepted 15 nonprofit leaders to its 2023 Racial and Economic Justice Cohort, which officially kicked off Thursday. The highly-interactive, six-month program helps equip senior and mid-senior leaders with the skills to help their organizations undue the unequal distribution of wealth in California, and address the power structures that…

CRC, BMO Harris Bank Announce More Than $40 Billion Community Benefits Plan

Five-year plan includes a $16 billion commitment for California communities. Nov. 28, 2022 – The California Reinvestment Coalition (CRC), the National Community Reinvestment Coalition (NCRC) and BMO Harris Bank today announced a more than $40 billion Community Benefits Plan U.S. communities, which includes a more than $16 billion…

CRC Comments on U.S Bancorp Merger Approval

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,…

CRC Responds to Leaked Racist Conversation Between LA City Councilmembers

The California Reinvestment Coalition released the following statement today in response to leaked audio capturing a racist conversation between Los Angeles City Councilmembers: “We’re both disheartened and disturbed to learn of the racist and shameful remarks made during a closed-door meeting between Nury Martinez, the LA City Councilmember who…

CRC Comments on Lawsuit Filed against CFPB

In response to a lawsuit filed earlier this week against the Consumer Financial Protection Bureau (CFPB) by banking industry trade groups, California Reinvestment Coalition (CRC) Chief of Legal and Strategy Kevin Stein offered the following comment: “Discrimination remains one of the most pervasive harms in the banking and financial…

Paulina Gonzalez-Brito Appointed to the CalAccount Blue Ribbon Commission

The Senate Rules Committee, chaired by Senate President pro Tempore Toni G. Atkins (D-San Diego), appointed Paulina Gonzalez-Brito to the CalAccount Blue Ribbon Commission; Gonzalez-Brito fills the position for a public banking advocate and Robinson fills the position for an individual with banking expertise.

CRC to Recognize Top Community Leaders, Organizations at Return of Annual Celebration

For Immediate Release Event will celebrate resilience in BIPOC and low-to-moderate income communities in California and recognize top California community leaders. LOS ANGELES, Sept. 2, 2022 — The California Reinvestment Coalition (CRC) is pleased to announce the re-launch of its annual award celebrations, which will take place in…

CRC Responds to CFPB Director’s State CRA Remarks

At a joint Consumer Financial Protection Bureau-U.S. Department of Justice press event earlier this week CFPB Director Rohit Chopra applauded states that have their own versions of the Community Reinvestment Act (CRA), calling for increased resources for states that support their supervision and regulation of nonbank lenders. California Reinvestment…

California Reinvestment Coalition, National Association for Latino Community Asset Builders, and Democracy Forward Secure Court-Enforceable Deadline from CFPB to Issue Data Collection Rulemaking Critical to Small, Women-Owned, and Minority-Owned Businesses

The CFPB has informed the court it has agreed to a court-ordered deadline of March 2023 for an issuance of a final rule implementing Section 1071 of the Dodd-Frank Act.