In this Must Know…
- Take Action: Sign our letter of support for AB 2116 by next Thursday, June 12
- Register for Strengthening People Practices: HR for CDFIs on June 18 and 25, 2026
- OMB’s Proposed Federal Financial Assistance Rule
- CAMEO Network is hiring a Finance Manager
- This week’s Goodie Highlight is the deadline for USDA’s rural business development grant applications (June 15 and June 30).
Take Action: Help Push AB 2116 Across the Finish Line
Great news! AB 2116 (Schiavo) passed the Assembly Floor last Friday and will be heard in the Senate Banking Committee on June 17. Please sign our letter of support by next Thursday, June 11. Sponsored by CAMEO Network, the Responsible Business Lending Coalition, and Small Business Majority, AB 2116 will empower the Department of Financial Protection and Innovation to provide oversight over companies that offer non-loan financing to small businesses (think MCAs). It’s our next step to protect your clients from predatory products.
Strengthen Your HR Foundation
Your people are your greatest asset, but are your HR practices keeping pace? Join CAMEO Network’s two-part training series, Strengthening People Practices: HR for CDFIs, on June 18 and June 25, 2026. Led by veteran HR executive Shannon Mick, this course covers employment law, compliance, recruitment, performance management, and building a people-centered culture, all through a mission-aligned, equity-informed lens.
OMB’s Proposed Federal Financial Assistance Rule
On May 29, the Office of Management and Budget (OMB) released a proposed rule titled “Regulation for Federal Financial Assistance.” OMB proposes revisions to funding opportunities, applicant risk reviews, and recipient selection processes that emphasize merit-based decision-making and enhanced oversight. The public comment period is open through July 13, 2026. This fact sheet from Public Private Strategies summarizes the key proposed changes.
The Goodies
Professional and Funding Opportunities
- UC Berkeley Haas’ Center for Social Sector Leadership offers nonprofits the opportunity to work with its MBA students. Join the next info session on June 10, 2026 at 12:00pm PT.
- USDA’s rural business development grant applications are due June 15 for SECD applications and June 30 for all other applicants.
Free Webinars
- Join the California Governor’s Office of Business and Economic Development on June 10, 2026 at 10:00am PT for a train-the-trainer webinar on Immigration Resources for Businesses and Employers.
- Join Catchafire on June 17, 2026 at 9:00am PT / 12:00pm ET for “Making Sense of AI Policy for Your Nonprofit.“
For Your Clients
- Small Business Majority is hosting a webinar on smart funding, worker protections and family leave for small business on June 9, 2026 at 11:00am PT.
- Start Small Think Big is hosting a Cybersecurity Essentials webinar on June 9, 2026 at 12:00pm PT / 3:00pm ET.
Other Goodies
- Industry News: The CFPB deleted at least 2,200 webpages from its website last month.
- Jobs: Working Solutions CDFI, Feed the Hunger Fund, Cooperativa Latino Credit Union, and California FarmLink announced new jobs recently. See who else is hiring!