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The economy may be on the upswing, but no one seems to have told California’s largest banks. As a result, the state’s small businesses owned by women and people of color are suffering, according to a community advocacy group.

Financial institutions in the Golden State that cut back on small business lending during the 2008 financial crisis have yet to loosen their purse strings in any meaningful way, according to a report issued this month by the California Reinvestment Coalition, a San Francisco-based organization that advocates with financial institutions on behalf of lower-income communities and communities of color.

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