Economic Growth Recovery & Paperwork Reduction Act Hearing

Last week, Greenlining, along with other community advocates, testified before OCC Comptroller Curry, FDIC Chairman Gruenberg, and other regulatory agency representatives to discuss outdated and burdensome financial regulations. Over the next year, financial regulators will hold hearings across the country to hear from industry, advocates and the public on this matter.

Attached please find Sasha Werblin’s, Economic Equity Director, formal comments expressed during the consumer advocate panel. Key recommendations focused on modernizing the Community Reinvestment Act to ensure that it reflects the the 21st Century financial services sector.

The hearing took place at the San Francisco Federal Reserve Bank in Los Angeles on December 2, 2014.

To read the testimony, click here.
Click here to watch a video of the consumer panel.
Click here for all of the panels.

Comments to the Environmental Protection Agency on Proposed Clean Power Plan

In comments to the EPA, Greenlining urges the agency to use California as a model in drafting implementation rules for its Clean Power Plan, which aims to reduce carbon emissions from power plants, and to include clear equity provisions in its rules.

To read the comments, click here.

Greenlining/TURN Reply Brief in CPUC Proceeding Regarding Comcast’s Release of Unlisted Phone Numbers

Today The Greenlining Institute and The Utility Reform Network filed a reply brief in the Comcast Unlisted Numbers proceeding. The brief argues that (1) Comcast’s failure to prevent or detect the release of the private information of almost 75,000 California customers, (2) Comcast’s weak remedies to consumers for that breach, and (3) Comcast’s delay in reporting that breach to the Commission and continuing efforts to escape liability through a bunch of legal shenanigans justify the Commission’s imposing the highest possible fine–$50,000 per violation, or approximately 40 million dollars.

To read the brief, click here.

Comments to the California Air Resources Board on Electric Car-Sharing Programs for Disadvantaged Communities

In comments to the California Air Resources Board, Greenlining and the other members of the Charge Ahead California campaign point out the importance of community outreach and infrastructure as key considerations in creating pilot car-sharing programs for electric vehicles in disadvantaged communities.

To read the comments, click here.

CRA Q&A Comments

Recently, Greenlining submitted formal comments responding to the FDIC, Fed, and OCC’s proposed revisions to the Community Reinvestment Act (CRA) Q&A. The CRA Q&A is used to guide banks on how to structure CRA investments; and examiners on how to analyze these and other activities.

Greenlining’s comments included: a push to improve measurements for how banks meet community financial needs; adding racial and ethnic data to CRA; and including language access as a method for increasing access to financial services.

Attached please find formal comments submitted on November 10, 2014.

To read the comments, click here.

HDMA Comments

Earlier this year, Greenlining submitted formal comments to the Consumer Financial Protection Bureau (CFPB) on its proposed enhancements to Home Mortgage Disclosure Act (HMDA) data. This directive was extended to the CFPB by Congress in the Dodd-Frank Wall Street Reform Act of 2010.

The CFPB’s efforts to enrich HMDA data is critical to ensuring that all consumers have a fair shot at building wealth through home equity, and that lenders sustainably serve all populations with this goal in mind.

Recommendations included adding: the borrower’s spoken language; Asian American data dis-aggregated by sub-categories; and more substantive reasons for denying an application.

Attached please find formal comments submitted on October 29, 2014.

To read the comments, click here.

Letter to the Federal Reserve Strongly Opposing CIT Group’s Proposed Acquisition of IMB and OneWest Bank

Greenlining urges the Federal Reserve to reject the merger application, arguing that it would have little or no public benefit and that OneWest has demonstrated little regard for communities of color and prefers to operate as a “bank for the one percent.”

To read the opposition letter, click here.

Reply Comments to the FCC on Net Neutrality

The Greenlining Institute urged the Federal Communications Commission to reject proposals from telecommunications providers who had suggested that the FCC issue watered-down (or no) rules regarding net neutrality. Such proposals, Greenlining argued, “could force low-income consumers and consumers from communities of color to the back of the digital bus.”

To read the comments, click here.

Promoting Diversity of FHFA Leadership

On August 25, 2014, the Greenlining Institute submitted federal comments to the Federal Housing Finance Agency (FHFA) on its proposed amendments to promote the representation of minorities and women on the Boards of Directors of the Federal Home Loan Banks (FHLB) and Office of Finance (OF). The proposal and its execution is led by the Offices of Minority and Women Inclusion for the FHFA’s, FHLB and OF. Greenlining’s outlined recommendations including streamlining data requested and making all information available to the public. Adopting these recommendations can help the FHFA greatly improve its intended impact.

To read the comments, click here.