July 2025 UPDATE:
About AB 801
A state-level Community Reinvestment Act (state CRA) ould set standards for how financial institutions in California invest and conduct business in our state, how they can help address racial and other wealth disparities, and how they can help ensure that all of our communities thrive.
State CRA would position California in response to federal deregulatory efforts. This bill would create incentives for urgently needed community-serving investments and encourage private investment in affordable housing, homeownership programs, and
small business development throughout California.
The bill would also create and maintain transparency and oversight of the state’s financial services market and ensure equal access to credit and services for all Californians.
State CRA empowers the Department of Financial Protection and Innovation (DFPI) to conduct a disparity study of financial service provision, ensure that covered financial institutions are assessing community needs, evaluate covered financial institutions on their efforts in meeting community needs, and identify and address discrimination in the provision of financial services.
Join the campaign:
Please sign on to ensure that all of our state-chartered and licensed financial institutions are playing their part in building strong California communities! Rise Economy will add you to the fact sheet and the coalition letter of support (link below). If you have any questions, please reach out to Jyotswaroop Bawa (jbawa@rise-economy.org)