Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

Committee Members Who Refused to Accept Bad Deal Deserve Applause, Greenlining Institute Says

WASHINGTON – Instead of hand-wringing over the supposed “failure” of the congressional deficit committee, ordinary Americans should applaud committee members who refused to make a bad deal, policy experts at The Greenlining Institute said today.

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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

Feds to Require Independent Investigations, Compensation For Losses Due to Wrongdoing

WASHINGTON – In a move that offers a chance for relief to potentially millions of foreclosure victims, the Federal Reserve Board and Office of Comptroller of the Currency announced this week that they will require independent reviews of foreclosures that may have been mishandled by two dozen leading mortgage servicers. Borrowers whose primary residence was in foreclosure during 2009 or 2010 and who suffered financially due to “errors, misrepresentations, or other deficiencies,” can receive compensation for their losses, whether or not a foreclosure was actually completed.

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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

New Commissioners Could Reinvigorate Investigation Into Proposed Acquisition of T-Mobile

WASHINGTON –The announcement of President Obama’s two nominees to the Federal Communications Commission provides an opportunity to accelerate the FCC’s investigation of AT&T’s proposed acquisition of T-Mobile, the Greenlining Institute said today, urging the commission to look closely at claims made by AT&T regarding the deal’s impact on jobs.
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Introduction
Thank you, Ms. Moore. On behalf of California’s diverse business community, it is my honor and pleasure to speak to you, Chairman Bradford, Chairman Padilla, Senator Price, Deputy Commissioner Shultz, and of course the Commission and President Peevey on the state of supplier diversity in California.
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Contact:
Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)
Kristina Bedrossian, California Reinvestment Coalition, 415-864-3980; (818) 307-9730 (cell)

Telephone Press Briefing Tuesday 10/4, Press Conference and Testimony at Fed Hearing 10/5; Advocates Charge Capital One With Predatory Lending

SAN FRANCISCO –The Greenlining Institute, California Reinvestment Coalition and nearly 120 community groups will call on the Federal Reserve Board to block the proposed merger of Capital One Bank and ING at the Fed’s upcoming hearing in San Francisco. Capital One, one of the nation’s leading subprime and often predatory credit card companies, would become the nation’s fifth largest bank should the merger be approved.
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Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 510-926-4022; 415-846-7758 (cell)

Thursday’s Hearing Must Look Beyond “Buffett Rule”

WASHINGTON – At Thursday’s hearing on reforming the tax code, the Joint Select Committee on Deficit Reduction should look beyond President Obama’s proposed “Buffett Rule” and crack down on offshore tax havens, policy experts at The Greenlining Institute said today. The growing use of offshore tax havens to avoid corporate income taxes – often by companies getting billions of dollars’ worth of taxpayer-funded federal contracts – was documented in Greenlining’s July report, “Corporate America Untaxed.”

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LA Times
By Marc Lifsher and David Sarno

California Atty. Gen. Kamala Harris is joining the U.S. Department of Justice in an antitrust suit opposing the proposed merger of AT&T and T-Mobile, sources close to the case confirmed.

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In These Times
By Miles Kampf-Lassin

Contact: Bruce Mirken, Greenlining Institute Media Relations Coordinator, 415-846-7758 (cell)

Plan to Save Homes, Stabilize Housing Market Is Essential, Greenlining Institute Argues

WASHINGTON – Policy experts at The Greenlining Institute applauded key elements of President Obama’s jobs speech this evening, but expressed doubt about others and urged Congress and the president to address the ongoing foreclosure crisis as an essential element to any jobs plan.

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