Policy

Like many around the country, earlier this month Accion Opportunity Fund nervously awaited the federal budget decision (which funds our government through September).

The Consumer Financial Protection Bureau (CFPB) recently announced their two year policy priorities, which include this vision statement about small business lending.

As a lender on the frontlines of the small business finance revolution, Accion Opportunity Fund has been calling attention to predatory lending practices for some time now. Because many of these concerning products are designed to avoid existing regulations, there is a need for policymakers to step in.

Over the weekend, California Governor Brown signed into law SB 197, which increases access to affordable capital for California’s 3.6 million small and microbusiness owners.

The strong leadership of the CFPB is critical to fulfilling its mission to protect consumers. Following the departure of CFPB Director Richard Cordray in early November, a battle over the directorship has commenced with different successors appointed by outgoing Director Cordray and the White House.