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Posted inCalifornia

California Lawmakers Announce First-in-the-Nation Universal Banking Services Access Program

Sacramento, CA, March 30, 2021 – Today a coalition of lawmakers and financial services advocates joined together to announce landmark legislation that would offer a zero-cost, zero-penalty bank account to all Californians. The California Public Banking Option Act (AB 1177), also known as BankCal, creates a financial services platform with existing financial institutions to close […]

Posted inCalifornia

California Community Groups Sound Alarm on Gutting of Decades-Old Community Reinvestment Act

SAN FRANCISCO, CA, Aug. 28, 2018 – Today, the Office of the Comptroller of the Currency (OCC), which regulates all national banks, announced efforts to alter the Community Reinvestment Act (CRA) in a way that could threaten tens of billions of dollars invested in low- and moderate-income communities in California. The Advance Notice of Proposed […]

Posted inUS

California Reinvestment Coalition Calls on Senate Finance Committee to Postpone Hearings on Steve Mnuchin

SAN FRANCISCO, Jan. 5, 2017 – The California Reinvestment Coalition is calling for an investigation by the Senate Finance Committee into Steve Mnuchin and OneWest Bank after a leaked memo cited “widespread evidence” of fraudulent practices by the bank under his leadership. The memo also highlighted efforts by the bank to obstruct an investigation by […]

Posted inCalifornia

Memo Shows Evidence of Illegal Foreclosure Practices at OneWest Bank While Steven Mnuchin was CEO

WASHINGTON, DC, Jan. 3, 2016 – A 2013 memo written by attorneys in the Consumer Law Section from the California Attorney General’s office is raising new concerns about the track record of OneWest Bank, and the ethics of its former CEO, Steve Mnuchin, who has been nominated to be Treasury Secretary by President Elect Donald […]