Earlier this year, former CBA Board member Jose Quiñonez from Mission Asset Fund, embarked on a simple idea: use the fines and penalties that California collects in enforcement actions against bad actors in the financial marketplace (i.e. payday lenders) to support nonprofits doing the opposite — improving people’s financial lives.
Thanks to the efforts of a broad coalition of people, on October 2, Governor Newsom signed Senate Bill 455 into law, creating the California Financial Empowerment Fund (CFEF) and allocating $4 million in support of California nonprofits delivering effective financial education and empowerment tools. Drawing from CFEF, CA’s Department of Business Oversight (DBO) will issue grants of up to $100,000 to nonprofits working to improve the financial lives of unbanked and underserved Californians.
Join us for a discussion led by Mission Asset Fund to hear how they were able to accomplish this. Walk away with insights on how to replicate this model in your state!
This webinar is part of our Members-only Series, a benefit of CBA membership. Non-members interested in the webinar can participate for a nominal fee by registering here.