Representatives from member organizations of the California Reinvestment Coalition traveled to Washington DC last week to attend the National Community Reinvestment Coalition conference. The theme of the conference was “A Just Economy: Ideas, Action, Impact.”
The conference is a gathering of NCRC’s diverse membership base from around the US, including CDFI’s, fair housing organizations, housing counseling organizations, consumer advocates, credit counselors, small business lenders, community organizing and civil rights groups, and more.
Speakers at the conference included Shaun Donovan, the Secretary of Housing and Urban Development (HUD),Thomas Curry, Comptroller of the Currency, Steven Antonakes from the Consumer Financial Protection Bureau, Martin Gruenberg, Chairman of the Federal Deposit Insurance Corporation, and more.
Secretary Donovan spoke about potential reforms to Fannie Mae and Freddie Mac and recognized the conference participants for their work to help people during the foreclosure crisis and to also help with rebuilding afterwards. He also spoke about the ongoing crisis of a lack of affordable housing in communities across America and cited NCRC’s work to ensure that reforms to Fannie and Freddie don’t leave low-income communities behind.
Wednesday night included a screening of “Fleeced”, a documentary about elder financial abuse which was a big draw with a packed room. A panel discussion included Kim Jacobs, the producer of the film, Anita Gardner, a consumer in the film who faced an uphill battle with her bank when she sought assistance with her mortgage after health problems, as well as Robert Zdenek, the Director of National Neighbors Silver at NCRC, and Dory Rand, president of the Woodstock Institute. The film was commissioned by NCRC, with support from the Atlantic Philanthropies. A screening will also be held in Sacramento on April 15th at 5:30pm, as part of the Housing California conference and Annette Smith, a consumer featured in the film will also be one of the panelists who speaks after the screening.
California delegates flew into Washington DC early to meet with our elected officials as well as banking and housing regulators.
On Thursday, as part of NCRC’s Hill Day, CRC Members headed to Capitol Hill to meet with their senators and representatives. There were a number of topics to discuss, a few of the topics the California delegation discussed included:
- Payday lending and the upcoming rule-making by the Consumer Financial Protection Bureau
- The need for more investment in affordable housing in California, especially since the dissolution of redevelopment agencies that funded affordable housing
- GSE reforms (and ensuring that low-income communities aren’t left behind)
- A recent proposal for the USPS to offer financial services through a prepaid card
- Effects of private equity firms and other investors buying up homes
- The Permanently Protect Tenants at Foreclosure Act of 2013
- Extension of the Mortgage Debt Forgiveness Act
- Transparency around foreclosure reporting (to see if mortgage modifications and other assistance is getting to communities equally- a topic recently addressed in a February 2014 GAO report (read more here)
- Small business lending (especially to minority business owners- read our December report about this issue here)
- Future mortgage settlements, and concerns about transparency of who is receiving modifications, and whether modifications are getting to communities hit hardest
- Bank mergers and the impact on rural California- For more on why this is such a pressing matter, see CRC’s “Down in the Valley” 2013 report, or our recent protest against the proposed acquisition of Sterling Bank by Umpqua Bank.
- Issues faced by widowed homeowners who are facing foreclosure instead of receiving assistance from their bank or mortgage servicer. See this December 2013 article that explains why improvements, monitoring, and enforcement are still needed: “Bank might foreclose on home because late husband isn’t residing there“
After meeting with their senators and representatives, attendees were especially excited by the lunchtime speaker: Senator Elizabeth Warren, (D-MA), an outspoken advocate who was paved the way for improvements in policies and programs affecting the same communities and people that NCRC’s members serve.
On Friday afternoon, CRC’s new Executive Director, Paulina Gonzalez spoke at a session: Winning Public Benefits for Your Community, with other advocates including Ernest Hogan, Executive Director of Pittsburgh Reinvestment Group, and Mitria Wilson, from NCRC.
Friday night closed with a bang! The Rev. Dr. William Barber II was awarded the Senator William Proxmire award, which recognizes the individual whose life’s work exemplifies the spirit and work of Senator Proxmire’s contributions to economic mobility. Dr. Barber gave a rousing speech about the need for organizations to work together to stop disinvestment in communities. Senator Proxmire was the author and lead sponsor of the Community Reinvestment Act.
Kevin Stein, Associate Director at CRC, was also confirmed to the National Community Reinvestment Coalition board of directors.
A big thank you to our CRC members who joined the meetings, including:
- Maeve Elise Brown from Housing and Economic Rights Advocates
- Clarence Williams and Debbie Muramoto from California Community Capital Financial Development Corporation
- Selma Taylor, from California Resources and Training
- John Fowler from Peoples’ Self Help Housing of San Luis Obispo
- James Zahradka, from the Law Foundation of Silicon Valley
- Namoch Sokhom from Pacific Asian Consortium in Employment Business Development Center
- Mary Scott Knoll, Fair Housing Council of San Diego
- Roberto Barragan and Lynn Fernandez from Valley Economic Development Center
- Hyepin Im from Korean Churches for Community Development
- Rob Wiener from California Coalition for Rural Housing
- Katherine Peoples McGill, from HPP Cares
It was another excellent conference put on by NCRC- See you next year!