An image of Sen. Durazo speaking Tuesday, May 21 at the Senate Floor hearing.

It’s clear: Transparency wins

After a years-long fight, SB 1201 moves forward to the California State Assembly By Madison D'Ornellas, Communications Specialist In early April, then mid-April, and then finally in late-May our coalition held our breath during each senate committee vote as Rise Economy and bill cosponsors Public Advocates watched the LLC Transparency Act (SB 1201) fly over...
Read moreRead More

California Coalition applauds Supreme Court decision in favor of the 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 Court make the reasoned and only...
Read moreRead More
An image of a City National Bank building.

California Coalition Applauds Rare, Failing Reinvestment Grade for City National Bank (CNB): Rise Economy says CNB and its Royal Bank of Canada (RBC) parent are bad for California communities due to redlining and fossil fuel finance practices

In response to the recent release by the Office of the Comptroller of the Currency (OCC) of an extremely rare “Needs to Improve” reinvestment rating for City National Bank, Rise Economy CEO Paulina Gonzalez-Brito issued the following statement: “We are pleased to see the OCC, the national bank regulator, finally use the Community Reinvestment Act...
Read moreRead More

Case Study: A Home for Formerly Unhoused Veterans

Officials and organizers cut the ribbon for the Whittier Place II housing development in January 2024. In early 2021, the East LA Community Corporation (ELACC), a Rise Economy member based in Boyle Heights, initiated the construction of Whittier Place II. This project, completed last year at a cost of $24 million, is a 34-unit Permanent...
Read moreRead More

Case Study: Promotores Workshops

Rise Economy collaborated with LINC Housing in Los Angeles to offer a financial awareness series aimed at fostering a positive mindset toward money. Initially, participants, including onewe'll call Gabriela, were skeptical of the workshop's benefits. The facilitator, Ms. Julia, shared her personal experiences with financial challenges, setting a tone of authenticity and empathy from the...
Read moreRead More

Rise Economy to Host Inaugural Action and Advocacy Conference

This dynamic event will see social justice groups, activists, advocates, policymakers and community leaders gather for an inspiring two-day experience. LOS ANGELES, April 25, 2024  — Rise Economy, a leading statewide economic, housing and racial justice nonprofit organization, is proud to announce it will host its first-ever conference, the Action and Advocacy Conference, on Nov....
Read moreRead More

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...
Read moreRead More

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...
Read moreRead More

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...
Read moreRead More

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…

Read More
An image of a person speaking in front of a crowd.

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...
Read moreRead More
An image of a pen readying to sign a document.

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…

Read More