The Greenlining Institute and coalition partners submitted a comment letter in response to the Office of the Comptroller of the Currency’s Advance Notice of Proposed Rulemaking (ANPR) to the Community Reinvestment Act (CRA). Greenlining pushed back against the OCC’s proposals to weaken the CRA by widening the scope and reducing the focus of the law on historically underserved communities. Greenlining made recommendations to improve and strengthen the law by adopting a focus on racial inequity and expanding regulatory oversight to bank affiliates and online lenders.
The Greenlining Institute endorsed a letter spearheaded by the Fed Up! Campaign calling for changes in how Federal Reserve Bank Presidents are chosen. In 2017, Raphael Bostic was named President of the Atlanta Fed, the first African American to serve at that level, and there has never been a Latinx Federal Reserve Regional Bank President. The makeup of Fed appointees is heavily skewed towards the financial industry, with nearly 80 percent of Directors coming from the business or banking sectors.
The Greenlining Institute joined with The Center for Popular Democracy’s Fed Up Coalition, Action NC, California Reinvestment Coalition, National Association for Latino Community Asset Builders, New York Communities for Change, PolicyLink and the Revolving Door Project to demand more transparency and meaningful public input in the critical process of selecting new leadership at the Fed and its Regional Banks.
The Greenlining Institute’s Economic Equity and Telecommunications teams submitted a comment letter in response to the Consumer Financial Protection Bureau’s Trial Disclosure Program proposal. Greenlining raised that critical safeguards to control for discrimination and adverse impact were missing from this trial program and that a lack of foresight to embed them could disproportionately harm consumers of color and others marginalized from financial markets. Greenlining raised the CFPB’s roll back of fair lending as an overarching concern for this trial program and the Bureau’s overall direction, and included questions and recommendations for the Bureau.
The Greenlining Institute joined a coalition of nearly a dozen organizations to criticize a proposed second round of GOP designed tax cuts heavily favoring the top 1% of households. At a time of growing inequality, equitable tax reform is needed to yield a balanced and more productive economy rich with opportunity ladders. Unfortunately, HR 6760 doubles down on the upside-down approach of President Trump’s first round of tax cuts, and would continue to explode the deficit while doing nothing to address the inequality that is dragging the American economy and closing off opportunities for most people in the United States.
Greenlining’s Health Equity Director Anthony Galace delivered a public statement raising concerns about the merger’s impact on communities of color at a hearing hosted by the California Attorney General. He urged that all Dignity Health hospitals maintain their most recent charity care amounts at a minimum and stated that Dignity Health should increase its statewide community benefit spending by two percent annually for at least five years.
The Greenlining Institute urged California Governor Jerry Brown to sign Senate Bill 818 to ensure that Californians have a fair chance of keeping their homes when the going gets tough. The bill strengthens protections created by the 2012 California Homeowner’s Bill of Rights which required mortgage loan servicers to engage in timely, fair and transparent processes with struggling homeowners before proceeding to foreclosure.
A coalition of 24 organizations wrote to California Assemblywoman Monique Limón applauding her resolution expressing the state’s support for a strong and independent Consumer Financial Protection Bureau. Assembly Joint Resolution 48 urges the President and Congress to maintain the integrity of the CFPB to carry out its duties to protect and defend consumers from predatory practices and abuses in the financial sector.