Wednesday, October 28, 2020
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Finance
City Planning Looks to Ease Regulations, Support Small Business During Economic Recovery
October 22, 2020
City Planning released a draft of its Local Emergency Code Amendment for public comment. The ordinance would take steps to eliminate financial and regulatory burdens on small businesses affected by the novel coronavirus. If adopted, it would expand the city’s ability to activate regulatory relief during a declared local emergency. ... read more »
JPMorgan Chase Commits $30 Billion to Advance Racial Equity
October 22, 2020
“All Americans deserve equitable access to affordable housing and the physical, emotional and financial security it represents,” said Lisa Rice, CEO, National Fair Housing Alliance. “JPMorgan Chase’s new commitments will help make owning or renting a reality for more Black and Latinx families, whose housing access has been impeded by decades of systemic racism and are now disproportionately affected by the impact of COVID-19. Addressing the affordability crisis, now overlaid with the pandemic, will require many players on many fronts, and these commitments are concrete, meaningful steps in the right direction.” ... read more »
New CRL Report: Debt Collectors in California May Have Seized $700M, Often Based on Scant Evidence & Other Questionable Practices
October 15, 2020
A new report released this week by the Center for Responsible Lending (CRL) finds debt collectors in California may have seized more than $700 million from consumers between 2012 and 2017, even though they frequently lack sufficient documentation to establish the validity and ownership of an individual’s debt. ... read more »
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An Easy Way to Put More Money in the Hands of Californians
October 8, 2020
There is no way around it—California’s Assembly Bill (AB) 5 has been a disaster for our state. The so-called “gig economy” legislation passed last year has been a short-sighted and dangerous attack on nearly ten percent of our state’s workforce. What’s worse—businesses continue to be attacked on all sides from attorneys looking to exploit the vague “ABC test.” And all this is peaking during the worst health crisis in a century, when millions of Californians remain jobless and small businesses are struggling to survive. ... read more »
Waters Announces Over $1 Billion in Paycheck Protection Program Loans
October 1, 2020
Congresswoman Maxine Waters (CA-43), Chairwoman of the House Financial Services Committee, released a district data sheet which summarizes Paycheck Protection Program (PPP) data provided by the Small Business Administration (SBA) regarding loans made to businesses in Gardena, Harbor City, Hawthorne, Inglewood, Lawndale, Lomita, Los Angeles, Playa Vista, and Torrance. Over one billion dollars in PPP loans were awarded to 10,750 businesses within Congresswoman Waters’ congressional district. ... read more »
Learning to be fearless: How mentorship can propel you into a top-tier college
August 21, 2020
My phone buzzed. Like every other text message, I grabbed my phone immediately to read it. But this was no ordinary text. I looked down and read three words that suddenly meant someone’s life was about to change forever: “I chose Berkeley” ... read more »
Xavier University of Louisiana gets $20M donation
August 1, 2020
A historically Black university in Louisiana has received a $20 million donation from MacKenzie Scott, the former wife of Amazon founder Jeff Bezos. The gift is the largest private contribution in the school's history and part of hundreds of millions of dollars Scott announced that she had given away. ... read more »
5 Major California Firms, Other Businesses, Invest Billions in Black Enterprises. Where Will The Money Go?
July 9, 2020
Over the last month, several corporations have stepped up to fund the Black community.   ... read more »
Bank of America Commits to One-Billion-Dollars in Contributions to Local Communities Over a 4-Year Span
July 9, 2020
Local community partners will have a role in this initiative, President of Greater Los Angeles Raul Anaya stated, “We are looking to potentially partner with philanthropy and other large businesses in L.A., because our goal is to create a program ideally that is sustainable with long standing impact. ... read more »
JPMorgan Chase Celebrates Graduates, Expands Commitment to Supporting Young Men of Color
July 2, 2020
Amidst the slew of nationwide virtual graduation ceremonies this past June, JP Morgan Chase held a similar event for its 10-year old mentoring success program The Fellowship Initiative. TFI’s Class of 2020 will see thirty-eight predominantly Black and Latinx young men from low-income communities throughout Los Angeles attending colleges across the state, as well as Princeton in New Jersey. ... read more »
California Launches CalMoneySmart Program Based on Bradford Bill
May 28, 2020
The California Department of Business Oversight (DBO) announced the launch of CalMoneySmart. This $4 million grant program was set in motion by SB 455, introduced by Senator Steven Bradford (D-Gardena) in 2019, which created the California Financial Empowerment Fund to remove financial barriers and improve monetary security.  ... read more »
Is There More COVID Cash Coming to Help Californians? 
May 21, 2020
Last week, Gov. Newsom presented his May Revision budget for the 2020-21 fiscal year.   ... read more »
Bank of America Receives Approval for 265,500 SBA Paycheck Protection Program Loans to Date for Small Businesses
May 14, 2020
Bank of America announced today that it has received Small Business Administration (SBA) loan approvals for 265,500 small businesses under the SBA’s Paycheck Protection Program (PPP). This represents $24.9 billion in needed relief for small businesses. More than 256,000 of these small businesses have received a loan number since the SBA reopened the PPP funding on April 27. ... read more »
While Struggling Americans Await $1,200 Stimulus, Nation’s Wealthiest Reap Windfall
April 23, 2020
The $2.3 trillion coronavirus stimulus package includes a temporary tax change for individuals who make at least $1 million a year, according to the Joint Committee on Taxation. The Joint Committee’s analysis shows 43,000 taxpayers in the highest income bracket, making more than $1 million a year, could save a combined $70 billion in taxes. Almost all benefits from the tax break go to people making more than $100,000 a year. ... read more »
The stimulus check is in the mail. Here’s how you can deposit it safely from your home.
April 16, 2020
With COVID-19 putting a financial strain on American families and businesses, millions of us are counting on our government stimulus payments.  ... read more »
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