In This Must Know…
- Small Business Lending UDAAP Protections!
- Advocacy Playbook: Racial Economic Equity In Small Business Funding
- The LA Times is surveying CDFI’s across the country
- Join us for Uplevel Your Online Training for Inclusivity, August 10-11 & 17-18, 2022!
- Registration is open for our MicroLenders Forum on September 15, 2022!
- This week’s Goodie highlight is the U.S. Department of the Treasury’s CDFI Fund opened the FY 2022 funding round for the CDFI ERP today!
We are pleased to announce the California Department of Financial Protection’s (DFPI) released an updated, proposed UDAAP rule that adopts some our recommendations:
- DFPI is proceeding with the proposed protections against “unfair, deceptive, and abusive acts or practices.”
- 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.
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.
New Resources & Free Webinars
- New Report from Prosperity Now: Exploring Job Quality in Latinx and Black-owned Small Businesses.
- Join Outsmart Disaster for their Outsmart Disaster Resiliency Clinic on July 21, 2022 at 11:00am PT.