Economics
Greenlining Opposes Joseph Otting for Comptroller of the Currency
The Greenlining Institute has announced its strong opposition to the nomination of former OneWest Bank CEO Joseph Otting to be Comptroller of the Currency. Greenlining noted that OneWest has a terrible record on many fronts, not limited to the bank’s recently-announced $89 million settlement with the U.S. Department of Justice for alleged reverse mortgage fraud.
“Under Mr. Otting’s leadership, OneWest compiled a terrible record in dealing with communities of color and treatment of consumers in general,” said Greenlining Institute President Orson Aguilar. “Some recent press accounts implied I’m a supporter, but in fact we have grave reservations and strongly urge the Senate to reject Mr. Otting’s nomination.”
In a 2015 blog post about OneWest’s merger with CIT Group, then under consideration by regulators, Aguilar noted that OneWest had foreclosed on over 35,000 households, used a notoriously irresponsible loan servicer, did little business with firms owned by people of color, had minimal diversity in its executive ranks, and focused on wealthy customers at the expense of low-income neighborhoods.
More recently, CIT– now merged with OneWest — was subject of a redlining complaint after advocates found surprisingly low levels of lending to African Americans, Asian Americans and Latinos.
In addition, the Los Angeles Times labeled OneWest Bank a “laggard” at lending to small businesses. As chair of the California Chamber of Commerce, Otting called state legislation to protect widows and widowers from needless foreclosure a “jobs killer.
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Oakland Post: Week of January 1 – 7, 2025
The printed Weekly Edition of the Oakland Post: Week of January 1 – 7, 2025
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Oakland Post: Week of December 25 – 31, 2024
The printed Weekly Edition of the Oakland Post: Week of December 25 – 31, 2024
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2024 in Review: 7 Questions for Outgoing Stockton Mayor Kevin Lincoln
Lincoln’s decision to run for mayor stemmed from his love of people and his desire to serve his city. He prioritized resolving issues, including homelessness and public safety, among others. Lincoln, a Republican, will transition out of his role as mayor on Dec. 31, after an unsuccessful campaign to represent the 9th Congressional District.
By Edward Henderson
California Black Media
Born in Stockton, Mayor Kevin Lincoln says his Army upbringing inspired him to serve others.
Lincoln joined the United States Marine Corps in 2001 and was later assigned to Marine One, serving during President George W. Bush’s administration.
Following his military service, Lincoln worked for one of the nation’s top private security companies for eight years in Silicon Valley. In 2013, he resigned from his corporate position to give back to his community in Stockton through full-time ministry at a local church.
Lincoln’s decision to run for mayor stemmed from his love of people and his desire to serve his city. He prioritized resolving issues, including homelessness and public safety, among others.
Lincoln, a Republican, will transition out of his role as mayor on Dec. 31, after an unsuccessful campaign to represent the 9th Congressional District.
Recently, California Black Media (CBM) spoke with Lincoln. He reflected on his accomplishments this year and his goals moving forward.
Responses have been edited for length and clarity.
Looking back at 2024, what stands out to you as your most important achievement and why?
What I prioritize for our city council is our youth. They are the future — not only our city, but this region as a whole.
We were able to invest over $6 million in youth programming and workforce development, and partner with 14 different community-based organizations. We were able to employ over 600 young people through the city of Stockton. We launched even our first ever summer jobs program for the city of Stockton.
How did your leadership and investments contribute to improving the lives of Black Californians?
It’s about giving people a seat at the table, and not necessarily waiting for people to come to me, but me going to the community, making myself accessible, meeting our community at the point of their need, where they’re at.
What frustrated you the most over the last year?
It’s politics. Because unfortunately, there’s politics in everything. And I say politics impedes progress. You can have a policy, a solution that may not necessarily be 100% perfect. But it’s a good solution for everybody. But because we allow politics to get in the way based off our personal ideologies, oftentimes we can miss opportunities to make an impact for the benefit of the whole.
What inspired you the most over the last year?
My biggest inspiration has been the community and our ability to work together. What’s unique about Stockton, one in 20 jobs are nonprofit jobs in the city of Stockton and even San Joaquin County.
What is one lesson you learned in 2024 that will inform your decision-making next year?
To stay focused. In politics, there’s a lot of opportunity for distractions. There are a lot of influences from the outside — good, bad and indifferent. It’s important to stay focused, have a clear vision, and be committed to that vision.
In one word, what is the biggest challenge Black Californians face?
Economics. When the economy is not healthy, when we’re not thriving, we’re limited. Opportunities are limited.
What is the goal you want to achieve most in 2025?
I just want to continue to be a servant leader and serve our community in whatever capacity I am in.
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