Bank Meetings, Payday Lending Ordinances, Obamacare, and Richmond Eminent Domain Case

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October 1, 2013

CRC Cautions Covered California on Financial Firms Making Money off of Health Care Reform
Concerns about predatory lenders exploiting Obamacare led CRC to submit comments to Covered California (the entity responsible for implementing health care reform in CA) about these companies exploiting health care reform to sell prepaid cards (with high fees) to Covered California enrollees. Continue reading…

Long Beach and Sunnyvale City Council Vote to Limit Payday Lending and other Fringe Lenders
Despite state legislative inaction on payday reform two California cities passed ordinances this month to limit predatory payday lenders. Continue Reading…

Positive Dialog at Bank Meetings
CRC members hope two recent meeting with banks will have strong and ongoing impact for much ignored communities. The first was focused on Asian American communities with Asian owned banks organized with the Office of the Comptroller of the Currency (OCC), Federal Reserve and FDIC in Los Angeles. The second was focused on rural community banks and economic development organized with the FDIC in Sacramento. Continue reading…

Wall Street Threatens Redlining if Eminent Domain Moves Forward in Richmond
The Richmond City Council voted earlier this month to move forward on an eminent domain program (Richmond CARES) that is designed to assist Richmond homeowners with negative equity. Wells Fargo and Deutsche Bank sued Richmond, seeking an injunction to stop the program from moving forward. In response to the redlining threat, the law firm Relman, Dane, & Colfax PLLC, filed an amici brief that CRC, the National Housing Law Project, Housing and Economic Rights Advocates, Bay Area Legal Aid, and the Law Foundation of Silicon Valley signed. Continue reading…

New movie from NCRC
“Fleeced” is a new movie about elder financial abuse, and features interviews with CRC staff member Andrea Luquetta as well as Annette Smith, a consumer who has spoken out forcefully against Wells Fargo’s payday loan product. The movie is a joint production between the National Community Reinvestment Coalition and WFYI Productions. Watch the trailer: Fleeced.


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