In response to the Consumer Financial Protection Bureau’s (CFPB) decision on Tuesday to fine Citi $25.9 million for “intentionally and illegally discriminating against credit card applicants the bank identified as Armenian American,” Rise Economy Chief Executive Officer Paulina Gonzalez-Brito released the following statement: “We commend the CFPB for taking…
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The San Francisco skyline against a backdrop of smoke and haze from wildfires. Photo credit: Adobe Stock By Jamie Buell, Research Analyst News outlets and social media have recently been flooded with headlines in recent weeks about New York City having the worst air quality in the world due…
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It was another busy year for CRC. In 2022, CRC and its allies negotiated more than $80 billion in Community Benefits Agreements (CBA) for California, passed AB 1837, the Homes in Community Hands Act, equipped dozens of mid- and senior-level employees with racial and economic justice advocacy skills, and…
Continue Reading →A new, first-of-its-kind report from the Committee for Better Banks (CBB), in partnership with the California Reinvestment Coalition (CRC), “Mapping the Banking Divide: How Branch Openings Close Financial Opportunities,” details how racial bias continues to run deep at America’s largest banks as new branches overwhelmingly open in majority white,…
Continue Reading →Paulina Gonzalez-Brito, CRC Chief Executive Officer, led a panel Thursday that brought together several Latine/x leaders of existing and emerging mission-driven financial organizations for a discussion on the importance of Community Development Financial Institutions in California communities. The panel discussion titled, “The Power of CDFIs,” was part of the…
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A poor lending track record to Black and Latine/x borrowers, hundreds of loans made to predatory corporate landlords, and a lack of adequate scrutiny were among the issues CRC along with dozens of other nonprofits and community-based organizations brought to the attention of federal banking regulators Thursday, July 14…
Continue Reading →The California Reinvestment Coalition and several of its member organizations met with elected officials and representatives from financial regulatory agencies last week as part of the National Community Reinvestment Coalition’s 2022 Just Economy Conference Advocacy Week. Each year, CRC convenes a California delegation to meet with DC-based regulators and…
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This week, the California Reinvestment Coalition, along with about 1,000 National Community Reinvestment Coalition members, staff and allies, attended the 2022 Just Economy Conference in Washington, D.C. After two years of virtual strategizing and mobilizing, NCRC members got to network and exchange ideas in person at the two-day event….
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Combat banking discrimination. Reduce financial disparities. Push the need for broadband access. Opportunities like this can come with learning more about how we can utilize and track the movement of cryptocurrency, a decentralized, deregulated form of investing in, buying and selling online currency. Don’t worry, we’ve done the seemingly…
Continue Reading →CRC submitted the following letter to the Office of the Comptroller of the Currency and Board of Governors of the Federal Reserve to announce its formal opposition to the proposed merger of BMO Financial Corp/BMO Harris Bank, N.A. and BancWest Holding Inc./Bank of the West. Download the full…
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Rise Economy Announces Additional $6.5B Commitment…
Rise Economy Recognizes Star Advocates, Community …
Photos: 2023 Southern California Equitable Futures…
Rise Economy Applauds CFPB’s $25.9M Fine on Citiba…
Rise Economy Responds to Bank Regulators’ Final CR…
What’s So Special About Special Purpose Credit Pro…
The Bank Rundown: October 2023
Celebrating 46 Years of the Community Reinvestment…
Significant Moments from 37 Years of Rise Economy
Get to know the 2023 Southern California EFA Honor…