Millions of Californians are suffering at the hands of the economic and foreclosure crisis. By the end of 2012, nearly 2 million Californians would have lost their homes to foreclosure. Unemployment continues to plague our communities, as small businesses continue to have trouble accessing credit from traditional banking institutions. “Too big to fail” banks are getting larger and charging new, exorbitant fees for basic asset-preserving products like checking accounts. As these products become more expensive and banks shut down branches, unbanked and underbanked residents continue to access predatory products from payday lenders and check cashers. This financial landscape is blocking the path to asset building for California’s low-income neighborhoods.
CRC is working to fight these trends in order to help people stay in their homes, keep their businesses, and preserve and grow their assets. CRC's members have a stake in these issue areas and financial products. CRC uses a variety of tools in order to successfully advocate for positive change in these issue areas.