Truth-in-Lending Updates | Upcoming CAMEO Virtual Meetings

“History, despite its wrenching pain, cannot be unlived, but if faced with courage, need not be lived again.” – Maya Angelou

In this Must Know…

Truth-in-Lending Updates

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Last week, the California DBO filed a Notice of Rulemaking Action with the Office of Administrative Law for SB 1235, the historic truth-in-lending law that passed in 2018. The notice includes the DBO’s proposed regulations to govern the disclosure of information to small businesses seeking financing. The Responsible Business Lending Coalition, which CAMEO is a part of, will be reviewing the text and submitting comments on the proposed regulations. If you’d like to submit your own comment, please do so before October 28, 2020.

CAMEO was a leader in the coalition that passed SB 1235, the first law of its kind in the country. The bill created a momentum that is making impact at the federal level.

On September 9, the House Small Business Committee held a hearing regarding transparency in small business lending. Luz Urrutia, CEO of Accion Opportunity Fund and Opportunity Fund, testified in support of the Small Business Lending Disclosure and Broker Regulation Act of 2020, which was introduced by Representative Nydia Velázquez in July.


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Upcoming CAMEO Virtual Meetings

  • September 18, 2020 at 1:00pm PDT: Friday Listening Session. We’ll get an update on what’s going on in DC as well as a roundup of what’s happened at the state level.

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Happy National Small Business Week

National Small Business Week will take place next week, September 22-24, 2020.

To commemorate the occasion, Small Business Majority is hosting a webinar next Tuesday at 1:00pm PDT. Ranking Member of the U.S. Senate Committee on Small Business & Entrepreneurship, Senator Ben Cardin will join to discuss small business policy updates from Capitol Hill.


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  • Jobs: The Sustainable Economies Law Center, Working Solutions, and Pacific Community Ventures announced new jobs recently. See who else is hiring!