Transcript Highlights:

• we're looking at is, you know, how we can invest in community development financial institutions or CDFIs
• Gamacho that our CDFIs, our community development financial institutions, are a place right now where
• I was really heartened to hear about the importance of our CDFIs.
• California has a community reinvestment act that centers and ensures that we're reinvesting in our CDFIs

Summary: The Select Committee on Latina Inequities met at Los Angeles Mission College in Sylmar, hosted by Assemblymember Celeste Rodriguez and joined by Assemblymember Mia Bonta. Rodriguez opened by framing the committee’s work around the economic status of Latinas and the effects of federal policies on the economy and social safety net, while the college president welcomed the committee and described campus services for undocumented and housing-insecure students. Rodriguez also emphasized the local impact of immigration enforcement in the San Fernando Valley and said the hearing would focus on Latinas’ economic conditions, immigration enforcement impacts on the workforce and safety, and H.R. 1’s effects on the safety net. The first panel featured HOPE’s Maria Morales and Dr. Elsa Macias, who presented findings from HOPE’s National Economic Status of Latinas report. They said Latinas are a major and growing part of California’s population and workforce, but face persistent inequities, including a large wage gap, higher unemployment, high uninsured rates, student debt, and affordability pressures around child care, housing, and education. They also discussed entrepreneurship, noting both the growth of Latina-owned businesses and barriers such as limited access to capital, technical assistance, and retirement and health coverage. In response to committee questions, they said higher education can still offer a strong return on investment, but only if students can complete degrees without being overwhelmed by debt and care costs; they also pointed to policy solutions such as SB 642, mentorship, financial literacy, CalSavers access, and support for community development financial institutions. The second panel focused on immigration enforcement and Latina safety in the workforce. Luis Nolasco of the ACLU described arrests tied to apparent ethnicity and Spanish-speaking, the chilling effect on families, and the loss of wages, school attendance, and mobility. Dr. Amada Armenta said immigration enforcement harms California’s economy, public health, and mixed-status families, and noted that undocumented workers are concentrated in agriculture, construction, and child care. SEIU’s Jen Baca Beltran said raids and school-based enforcement traumatize children and families and highlighted the need for Know Your Rights trainings. Megan Ortiz of IDEPSCA described repeated Border Patrol raids on day labor centers, injuries to staff, and the need to protect worker centers, domestic workers, and street vendors. Inclusive Action’s Shannon Camacho said raids have forced many informal workers to stop working, prompted emergency cash assistance and rent relief efforts, and strengthened advocacy for vendor protections and CDFI support. CHIRLA’s Jeanette Zanipatine said the rapid response network has expanded, documented widespread arrests and detention conditions, and is providing direct support and legal referrals; committee members asked about detention, maternal health, and what the state can do, and panelists urged stronger oversight, more legal representation, and protections for pregnant and detained people.

Transcript Highlights:

• We were thinking of partnering with CDFIs to provide even shorter-term loans to developers to get their
• c> ready we were thinking of partnering ready we were thinking of partnering with<00:54:18.240> cdfis
• provide<00:54:20.440> even<00:54:20.680> shorter<00:54:21.000> term with cdfis
• to provide even shorter term with cdfis to provide even shorter term loans<00:54:21.520> to<00
• applied and just haven't been able to get to that point that we think this could assist, but with the CDFI

Keywords: 912, senate, all

Transcript Highlights:

• Fortunately, he was able to refinance with a Cameo member, a community development financial institution, a CDFI
• on behalf of the California Coalition for Community Investment, which is the statewide coalition of CDFIs

Summary: The Assembly Banking and Finance Committee met to hear several bills focused on consumer and small business financial protections. SB 97, by Senator Grayson, would update and clarify California’s digital financial assets law; supporters from the blockchain industry and consumer groups said it would improve compliance clarity while preserving room to align with possible federal action. The committee passed SB 97 on a due-pass motion to the Privacy and Consumer Protection Committee, with the roll left open for absent members. The committee also heard SB 362, which would strengthen disclosure rules for small business financing by requiring clearer pricing information throughout the marketing process. Supporters said the bill would help small businesses compare offers and avoid harmful financing, while some industry groups objected to the bill’s treatment of communications and APR disclosures during negotiations. After discussion, the committee passed SB 362 to the Judiciary Committee, with several members voting aye and the roll left open. SB 784, a bill addressing predatory home-improvement and solar financing practices, drew extensive testimony. The author and supporters described scams targeting seniors, low-income homeowners, and non-English speakers, and said the bill would add safeguards such as confirmation calls, document access, fee transparency, and longer cancellation periods. Solar industry groups moved to neutral after amendments, while banks and other lenders raised concerns about overbreadth and impacts on legitimate lending. The committee passed SB 784 to Judiciary, with some members not voting or changing votes during the roll call. Finally, SB 825 sought to give the Department of Financial Protection and Innovation clearer authority to enforce existing consumer financial protection laws against its licensees, especially in light of reduced federal CFPB enforcement. Supporters argued California needs independent state enforcement tools, while banking and mortgage groups opposed the bill as duplicative and unnecessary, urging coordination with federal regulators and proposing narrower amendments. The committee passed SB 825 to Appropriations on a due-pass vote, and then adjourned after completing the agenda.

Transcript Highlights:

• with advisors or officers from a nonprofit, whether it's an economic development organization or a CDFI
• with advisors or officers from a nonprofit, whether it's an economic development organization or a CDFI
• with advisors or officers from a nonprofit, whether it's an economic development organization or a CDFI
• with advisors or officers from a nonprofit, whether it's an economic development organization or a CDFI
• A nonprofit, whether it's an economic development organization or a CDFI, is more likely to not only

Keywords: 1187, senate, all

Transcript Highlights:

• Congress, led by ranking member Velasquez and myself, we had to set aside $60 billion for MDIs and CDFIs
• <03:39:32.160> I'm<03:39:32.560> so<03:39:32.800> pleased wipe out the CDFI
• I'm so pleased wipe out the CDFI fund.
• ,<03:40:03.920> and<03:40:04.160> other<03:40:04.479> community CDI, CDFIs,
• and other community CDI, CDFIs, and other community financial<03:40:05.439> institutions<03:40

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, May 12, 2026, 1012, house, all

Transcript Highlights:

• , which adds loan funds administered by nonprofit community development financial institutions, or CDFIs
• It expands the use of monies in the revolving fund to allow financing as matching funds for CDFIs to
• to allow financing as matching<01:00:46.880> funds<01:00:47.160> for<01:00:47.319> cdfis
• <01:00:48.319> to<01:00:48.480> mobilize matching funds for cdfis to mobilize matching
• funds for cdfis to mobilize other<01:00:49.160> funding<01:00:49.480> sources<01:00:50.359

Keywords: 912, senate, all

Summary: The committee heard testimony on SB 834, which would change restrictions on transfers of real property under chapter 201H, HRS, and was discussed in the context of Hawaiian homelands and HHFDC-funded projects. Supporters, including HHFDC, DHHL, and individual testifiers, said the bill would clarify that Hawaiian homelands should not be subject to the 201H buyback and appreciation restrictions, while preserving affordability requirements tied to federal mortgage and tax credit programs. HHFDC explained that the main concern was the buyback/share-appreciation provisions, especially for DHHL projects using LIHTC or similar financing, and said aligning the statute with DHHL’s program goals would not be a problem. Members questioned whether removing the restrictions could weaken affordability protections, and whether the state could still prioritize beneficiaries and workforce housing, but no vote was taken in the portion provided. The committee then took up SB 759, which would add the DHHL chairperson or designee to the HHFDC board of directors and adjust quorum requirements. DHHL and several supporters argued the measure would give Hawaiian Homes a seat at the table, improve access to HHFDC funding sources such as tax credits, private activity bonds, and revolving funds, and help leverage limited resources to reduce the Hawaiian Homes waitlist. One testifier supported the bill but urged safeguards to prevent favoritism or abuse of power, and another raised concerns about whether a DHHL representative would need to recuse from voting on projects involving DHHL. HHFDC testified that DHHL projects still must compete under the same criteria and set-asides as other applicants, and that the board already includes multiple public and executive representatives. Members pressed on whether DHHL could achieve the same informational goals without a voting seat, and whether the added board role would create leverage or conflicts. The DHHL witness said a nonvoting role could provide information, but a voting seat would be more useful for decision-making and advocacy. The discussion also covered DHHL’s use of LIHTC, rent-to-own models, transitional housing, and other layered financing, as well as the broader need to coordinate state housing resources. The transcript ends during continued questioning, with no final committee action or vote shown.

Transcript Highlights:

• I know I've talked with many of you about the importance of CDFIs.
• Additionally, a CDFI is responsible and accountable to the community members that we serve, so we have
• <00:21:09.200> we of you about the importance of cdfis we of you about the importance of cdfis
• responsible<00:21:27.559> for<00:21:28.200> um<00:21:28.799> accountable cdfi
• is responsible for um accountable cdfi is responsible for um accountable to<00:21:29.400> the

Keywords: 1187, senate, all

Transcript Highlights:

• So with the grant program that Mass Growth has been overseeing, they provide at least three or four CDFIs
• But MassGrowth definitely is engaged with getting funding out to the CDFIs and specialized and worker

Keywords: 995, all

Summary: The Joint Committee on Economic Development and Emerging Technologies held its first public hearing of the session, chaired by Rep. Carole Fiola with Sen. Barry Finegold. After housekeeping on livestreaming, virtual testimony, and written testimony deadlines, the committee heard testimony on several bills, with the main focus on S. 303/H. 503/S. 305 and H. 491, all related to worker ownership and business succession. Testimony generally supported expanding employee ownership, right of first refusal for workers, and incentives for owners to sell to employee groups. Speakers from worker co-ops, technical assistance organizations, lenders, and business owners said these measures could preserve local businesses, protect jobs, build worker wealth, and help communities retain valued services and storefronts. On S. 303, Vincent Lawrence Dixon described a proposal to create tools such as a special community trustee, right of first refusal, and community institution landmarks to help communities preserve important local properties and uses when owners cease operations. On H. 491 and the employee-ownership bills, witnesses including Matthew Page Lieberman, Caleb from Circus Cooperative Cafe, Sarah Acefa of Dorchester Food Co-op, Halsey Platt, Kevin O'Brien, John Abrams, Virginia Berman, Stacey Cordero, Adrian Roman, Alex Popali, Adam Trott, and Ethan Tupelo emphasized that worker-owned businesses can be more resilient, support democratic participation, and help with business transitions as owners retire or close. Committee members asked questions about the tax incentive threshold, the timing and mechanics of the right of first refusal, and whether the bills would affect sale prices or business succession. Rep. Kristen Kassner also testified on H. 490, which would create a special commission to inventory the Commonwealth’s built environment, infrastructure, permitting, and land-use barriers to help Massachusetts adapt vacant or underused spaces for the next economy. She said the commission would help identify opportunities for housing, climate and energy tech, advanced manufacturing, and other uses, and members discussed commission composition and data sources. At the end of the hearing, the chair read a series of additional bills into the record, noted an upcoming Economic Development Expo, and the committee adjourned after a motion and second.

Transcript Highlights:

• We have six CDFIs in our state. We have community bank.
• Thank you. first-hand in my role here in the Senate, the role that CDFIs play in both rural and urban

Keywords: financial regulations, SEC, Comptroller of the Currency, Federal Transit Administration, nominees, Empowering Main Street in America Act, capital formation, economic growth

Summary: The committee meeting focused on several nominees within key financial institutions, including discussions surrounding the SEC, the Federal Transit Administration, and the Comptroller of the Currency. Notable dialogue included concerns over regulatory balance, with various members emphasizing a need to streamline regulations to foster innovation while ensuring accountability and safety for investors. The importance of the proposed 'Empowering Main Street in America Act' was highlighted as a means to facilitate access to capital for small businesses, underlining the current administration's approach towards financial regulations.

Bills: HB12, HB149, HB12, HB149, SB229, SB1361, SB1749, SB1897, SB2113, SB2566, SB2677, SB1652, SB2327, SB2344, SB2696

Keywords: election law, attorney general, prosecution, criminal offenses, law enforcement, jurisdiction, voter fraud, local prosecuting attorney, public safety, communication, governor approval, interoperability, political subdivision, radio systems, artificial intelligence, regulation, biometric data, ethical AI, consumer protection, AI governance

Bills: HB12, HB149, SB229, SB1361, SB1749, SB1897, SB2113, SB2566, SB2677, SB1652, SB2327, SB2344, SB2696, HB12, HB149

Keywords: artificial intelligence, regulation, biometric data, ethical AI, consumer protection, AI governance, automobile sales, finance, retail seller, motor vehicle purchase, motor vehicle sales, pricing restrictions, third-party financing, education, funding, student assessment, accountability, standards, motor vehicle, financing

Transcript Highlights:

• This is CDFIs, Community Development Financial Institutions, you know under the first Trump administration
• But would you continue to agree to work with me and us on CDFIs?

Keywords: nomination, Deputy Secretary of Treasury, economic policy, inflation, tariffs, tribal nations, government relations

Summary: The meeting convened to consider the nomination of Mike Falkender for the position of Deputy Secretary of the Treasury. During the session, multiple members voiced concerns regarding current economic policies under the Trump administration, particularly around inflation, tariffs, and the impact on small businesses. Discussions frequently centered on the administration's approach to tariffs and taxation, and how these factors contribute to the rising cost of living and potential job losses. Additionally, the importance of bolstering government-to-government relationships with tribal nations was emphasized, highlighting the need for specialized offices focused on tribal affairs within the Treasury Department.

Transcript Highlights:

• services for businesses and entrepreneurs across the state of Minnesota, and we are a federally certified CDFI
• services for businesses and entrepreneurs across the state of Minnesota, and we are a federally certified CDFI
• services for businesses and entrepreneurs across the state of Minnesota, and we are a federally certified CDFI
• services for businesses and entrepreneurs across the state of Minnesota, and we are a federally certified CDFI
• services for businesses and entrepreneurs across the state of Minnesota, and we are a federally certified CDFI

Keywords: 1187, senate, all

Transcript Highlights:

• revised to ensure the bill prioritizes support for smaller community and midsize banks like MDIs and CDFI
• revised to ensure the bill prioritizes support for smaller community and midsize banks like MDIs and CDFI
• the most: minority deposit institutions, or MDIs, community development financial institutions, or CDFIs
• CDFIs CDFIs and<05:18:40.560> inner<05:18:40.958> city<05:18:41.600> rural<05:18
• , for rural banks, and all of MDI, CDFIs, for rural banks, and all of their<05:20:29.200> customers

Keywords: U.S. House of Representatives Floor Proceedings on Tuesday, May 19, 2026, 1012, house, all

Transcript Highlights:

• We are Minnesota's largest housing-focused community development financial institution, or CDFI.
• community development financial<01:02:27.920> institution<01:02:29.080> or<01:02:29.240> CDFI
• <01:02:30.560> Since financial institution or CDFI. Since financial institution or CDFI.

Keywords: 1187, senate, all

Transcript Highlights:

• Miss Chang, are you a CDFI, a community development financial institution? No.
• Uh, Miss Chang, are you<01:15:59.520> a<01:15:59.760> CDFI you a CDFI you a CDFI community

Keywords: 1187, senate, all

Transcript Highlights:

• We are a community development financial institution, a CDFI based out of Boyle Heights, serving all
• Rachel Mueller on behalf of the California Coalition for Community Investment, a coalition of 55 CDFIs

Keywords: 987, senate, all

Transcript Highlights:

• Um, so we are a, a nonprofit community lender, a CDFI, Community Development Financial Institution, which
• the Housing Innovation Fund, there's the opportunity to think about ways to um further capitalize um CDFIs
• to low and moderate income buyers to purchase a home could also foster innovation at the level of CDFIs

Transcript Highlights:

• We are certified by the United States Treasury as a community development financial institution, or CDFI
• <00:36:46.000> or development financial institution or development financial institution or CDFI
• 47.520> a<00:36:47.760> national<00:36:48.079> network<00:36:48.320> that CDFI
• which is a national network that CDFI which is a national network that promotes<00:36:48.880> economic

Keywords: Meeting Start 00:00:07 Roll Call 00:00:25 Discussion of Lexington’s Housing Affordability Partnership 00:02:26 Discussion of Northern Kentucky’s Housing Blueprint 00:30:12 Discussion of Religious Institution Land Use 00:57:33 Discussion of Free-Market Solutions to Kentucky’s Housing Crisis 01:04:18 Adjournment 01:26:37, 958, all

Summary: The committee met without a quorum and began informally, with members noting this was the final information-gathering meeting on housing before a November meeting to discuss findings and report back to the LRC. The main presentation focused on the Lexington Affordable Housing Partnership, a public-private effort supported by a $10 million state allocation. Presenters described Fayette County’s housing shortage, citing a gap of more than 22,000 units, rising home prices, and the challenge of assembling land and capital for affordable projects. The partnership explained that five local banks created a $3 million capital investment fund to buy and hold land at no interest, with deed restrictions keeping the site at 80% or below area median income and allowing the banks to seek Community Reinvestment Act credit. The first project is a 12.5-acre former Transylvania University baseball field, planned for about 242 units, including detached homes, townhouses, garden-style apartments, and senior housing. Speakers said the project required extensive neighborhood engagement and zoning/development approvals, but that the planning phase is now largely complete and infrastructure work should begin soon. Financing details included roughly $64 million in additional funding through tax credit equity, market-rate loans, city support, Kentucky Housing Corporation resources, and donations from nonprofit partners. Developers said the multifamily bond applications are due to Kentucky Housing Corporation the next day, and they expect the land purchase to be repaid into the revolving fund once the property is entitled and closed, allowing the original $3 million to be redeployed for future projects. They estimated rental units could be filled within about six months of completion, while for-sale units would come online over 12 to 36 months. In discussion, members asked about regulatory barriers and project timelines. Presenters pointed to rising construction costs tied to new federal and state requirements, and one member highlighted the need to continue reviewing planning and zoning reforms to speed development plan approvals and reduce delays. The group also endorsed a possible statewide $20 million housing fund, a residential infrastructure fund, and efforts to avoid additional regulatory burdens on housing development.

Transcript Highlights:

• CRA regulations again, thanks to the support of the legislature, issued guidance on investment in CDFIs

Keywords: 993, senate, all

Summary: The Senate Banking Committee met for its first meeting of the session, with Chair James Sanders Jr. and Ranking Member George Borrello opening the hearing and noting a collaborative approach to committee work. The committee first considered and advanced several bills: S.114, which would prohibit state-chartered banks from investing in or financing private prisons; S.2040, which would require money transmitters to provide a consumer warning; S.5473, which would require disclosures in advertisements involving virtual tokens; and S.8406, Sanders’ bill to amend the community bank deposit program. Each bill was moved and approved by committee, with S.8406 passing unanimously. The committee then heard from Caitlin Azar, Acting Superintendent of the Department of Financial Services (DFS), who outlined her background and DFS priorities. She emphasized affordability, consumer protection, stability, and innovation, and discussed DFS-led initiatives in the governor’s budget, including Banking Development Districts, non-bank mortgage CRA regulations, CDFI investment guidance, and consumer restitution. She also said DFS plans to issue buy-now-pay-later regulations in February, expand student lending protections and borrower education, and continue work on insurance affordability, including auto and homeowners insurance reforms, anti-fraud efforts, and discounts tied to telematics, dash cameras, and safe-driving courses. Members questioned Azar about the balance between regulation and access, especially in crypto, buy-now-pay-later, and insurance markets. She said DFS aims to preserve competition while preventing discriminatory or excessive practices, and described existing oversight of virtual currency, including coordination with federal regulators. Another member asked about AI in auto insurance underwriting and pricing; Azar said DFS requires transparency, bias review, governance controls, and consumer recourse, and that credit scores cannot be used to deny or increase rates. The chair also raised concerns about foreclosure in Southeast Queens, improving BDD paperwork and data collection, and increasing the number of state-chartered credit unions. Azar said DFS is working on process improvements, community input, and maintaining open communication with the committee, but no additional votes or formal actions were taken during the DFS hearing.