Contact:
Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)
Tunua Thrash, Greenlining Institute Director of Innovation, 310-499-8470

Applications Taken Through Sept. 10 for Leaders to Ensure District Lines Fairly Represent People of Color, Low-Income Communities

BERKELEY, CALIFORNIA – The Greenlining Institute has extended the application deadline for its California Community Redistricting Leaders program. Greenlining is recruiting dynamic grassroots leaders from around California to spearhead a new push to ensure that redistricting — the process of drawing new boundaries for legislative districts — fairly represents communities of color and low-income Californians. Grassroots leaders chosen for the program will receive a stipend of $2,000.
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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

$350 Billion Loss of Wealth Requires Strong Action to Update Community Reinvestment Act

LOS ANGELES – In testimony today before a Los Angeles hearing convened by the Federal Reserve system and other federal financial agencies, the Greenlining Institute called for strong action to modernize the Community Reinvestment Act (CRA), first passed in 1977. “In a sense, communities of color have become the canaries in the coal mine of the economic crisis,” Greenlining Community Reinvestment Director Preeti Vissa told the hearing. “While the nation has experienced a recession, too many in our communities have experienced a depression.”
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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

Federal Reserve to Consider Updating Implementation of Landmark Law Boosting Investment in Low-Income Communities

LOS ANGELES – The Federal Reserve system and other federal financial agencies will hold a hearing in Los Angeles Aug. 17 to consider updating regulations implementing the Community Reinvestment Act (CRA), a landmark law first passed in 1977 to encourage banks and other financial institutions to meet the credit needs of the communities they serve. While some on the far right have tried to blame CRA for the subprime mortgage meltdown, The Greenlining Institute and others have argued that improving and expanding CRA is the best way to avoid a repeat of the recent housing crisis, as well as being crucial to efforts to address the large and growing racial wealth gap. In May, the New York Times reported that for every dollar of wealth owned by a white family, an average African-American or Latino family has just 16 cents.
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Great causes succeed through coalitions and partnerships, a fact that’s particularly true for community reinvestment. Union Bank has enjoyed a long relationship with The Greenlining Institute, a national public policy research and advocacy organization based in Berkeley, California. The institute provides valuable guidance for the bank’s community reinvestment activities and maintains a close working relationship with us through our Corporate Social Responsibility Group.

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La Opinion
Orson Aguilar

Lo están haciendo otra vez: De nuevo, los intereses especiales están tratando de arrebatar la iniciativa de ley en la boleta de California para enriquecerse a costa de nuestras comunidades.

Dos grandes compañías petroleras están gastando grandes cantidades de dinero para matar la creciente economía verde de California y los cientos de empleos que esta economía ha creado. Prepárense para las mentiras que se esparcirán rápido y recuerden quién está detrás de ellas.
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New America Media
Aaron Glantz

After sitting through two hours of testimony at the Federal Reserve Bank of San Francisco, plumber Carlos Moreno can barely contain his anger.

In January, he lost his home in Menlo Park to foreclosure, after his adjustable rate mortgage reset, and his monthly payments increased by more than $1,000 a month.
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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

Testimony at Today’s Hearing Urges Immediate Release of Data on Underwater Mortgages to Prepare For Possible New Crisis; Calls For Better Data on Asian-Americans

SAN FRANCISCO – Greenlining Institute Executive Director Orson Aguilar today urged the Federal Reserve to take immediate action to help the public and private sectors brace for a possible new wave of foreclosures. Aguilar spoke at the Federal Reserve Bank of San Francisco’s public hearing on the Home Mortgage Disclosure Act (HMDA).
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Federal Reserve Bank of San Francisco

A Growing Homeownership and Wealth Gap:  Communities of Color More Likely to Be Underwater

The Greenlining Institute thanks the Federal Reserve for this timely review of the Home Mortgage Disclosure Act (HMDA).  Thank you for inviting Greenlining to address this panel on such an important issue.  I also want to congratulate our very own Janet Yellen for being nominated to be the Vice Chair of the Federal Reserve.   Congratulations Vice Chairman Yellen.
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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

Urgent Action Needed as Communities of Color Face Greatest Loss of Wealth in History, Greenlining Institute Executive Director Orson Aguilar Will Testify

SAN FRANCISCO – The Federal Reserve Bank of San Francisco will host a public hearing on modernization of the Home Mortgage Disclosure Act (HMDA) this Thursday, Aug. 5. Among the experts invited to testify will be Greenlining Institute Executive Director Orson Aguilar, who will argue for urgent action as crashing levels of homeownership drive the greatest loss of wealth in history among communities of color.
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San Francisco Chronicle
Justin Ho, Chronicle Sacramento Bureau

What has historically been a bureaucratic and secretive process of drawing California’s political boundaries has now become a contentious fight over race, power and government transparency.

Two years ago, voters created an independent commission to redraw the boundaries of California’s legislative districts, a process known as redistricting. But even before the new Citizens Redistricting Commission has begun its work, it has landed in a political tug-of-war between good-government groups and Democratic insiders.
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