Small Business Lending UDAAP Protections! Advocacy Playbook is Live!

In This Must Know…

UDAAP Protections

We are pleased to announce the California Department of Financial Protection’s (DFPI) released an updated, proposed UDAAP rule that adopts some our recommendations:

  1. DFPI is proceeding with the proposed protections against “unfair, deceptive, and abusive acts or practices.”
  2. Data on the pricing of small business financing will be collected in the form of APR, not dollar cost, in recognition that APR, unlike dollar cost, enables comparison of the cost of financing over time. 

The Department is now one step closer to establishing California as a safe haven for our hard-working entrepreneurs! Our collective voices were essential to this achievement. Please fill out this form if you would like your organization to be added to our new comment letter.

Advocacy Playbook

CAMEO is on the steering committee of the California Small Business Coalition for Racial Justice, a collaboration of 17 lenders and nonprofits. They created an advocacy playbook: Racial Economic Equity In Small Business Funding. You can now easily access the playbook from our website’s policy & advocacy page.

Growing Successful Ag Businesses Info Session

The LA Times is surveying CDFI’s across the country in order to create a CDFI Guide at the end of October.

The survey will be used to profile CDFIs across the country in a B2B magazine included with the October 30 issue of the L.A. Times. This is an opportunity to share information on the loans you offer, communities you serve, and ultimately bring awareness to the industry as a whole.

Submissions close July 11, 2022.

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