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The coronavirus pandemic and the renewed focus on systemic economic inequality in our country are bringing new attention and support to community-based nonprofit lenders.Community development financial institutions, or CDFIs, focus on rural, low-income and minority communities.Around 300 CDFIs made more than billion in Paycheck Protection Program loans to help small businesses, many of which had been left out previously.By comparison, JPMorgan Chase, which is nine times the size of the entire CDFI industry, made only four times the amount of PPP loans.“Many CDFIs we are in many ways like small businesses, we didn't come into this situation strong in terms of our capital,” said Luz Urrutia, CEO of Opportunity Fund. “Now more than ever, during the rebuilding, we've got to have the balance sheet strength because we are supporting these low-income communities, small businesses and communities of color.”Opportunity Fund is one of those CDFIs. It's been raising millions of dollars since March, specifically to help minority, immigrant and women-owned businesses.Serena Williams and MacKenzie Scott have both donated recently. But there are questions about how long all the support these nonprofit lenders have been getting will last.“What I would say for the minority-owned businesses right now, timing is perfect and when timing is perfect, you need to strike while the iron is hot,” said Maurice Brewster, CEO of Mosaic Global Transportation. “And right now, there's a lot of support, a lot of ground swelling with dealing with small and minority-owned businesses.”Maurice Brewster’s business received loan payment deferral from Opportunity Fund during the pandemic. His advice for other minority-owned businesses: if you can, have a relationship with a lender way before you need the money.He says education is also going to be key for minority-owned businesses going forward.That financial coaching is something opportunity fund is pushing for too, along with more money from congress to support CDFIs. 2026
The Department of Justice is suing to block California laws that extend protections for immigrants living in the United States illegally, commonly referred to as "sanctuary laws."The lawsuit by the Trump administration claims three of the state's laws intentionally undermine federal immigration law, according to The Associated Press.One of the laws prevents local police agencies from asking people about their immigration status or assisting in federal immigration enforcement activities. The Justice Department says these laws are unconstitutional.Attorney General Jeff Sessions, speaking at a law enforcement event in Sacramento Wednesday, said the administration's lawsuit against California was to "invalidate these unjust immigration laws" because the state's laws are a "violation of common sense."Sessions told those in attendance at the California Peace Officers Association's Legislative Day that the state has "a problem" and told California officials to "stop actively obstructing law enforcement … stop protecting lawbreakers."The attorney general singled out Oakland Mayor Libby Schaaf, who recently issued a public warning of an impending immigration raid in her city. Sessions claims that Immigration and Customs Enforcement officers "failed to make 800 arrests" because of Schaaf's statements. 1320

The City of Columbus took down a Christopher Columbus statue from in front of City of Hall on Wednesday, removing what Mayor Andrew Ginther called a symbol of “patriarchy, oppression and divisiveness.”Ginther announced the decision to remove the statue on June 18."That does not represent our great city, and we will no longer live in the shadow of our ugly past,” Ginther said. “Now is the right time to replace this statue with artwork that demonstrates our enduring fight to end racism and celebrate the themes of diversity and inclusion.”The statue, which was a gift from the people of Genoa, Italy, in 1955, will be placed in safekeeping at a secure city facility. The city asked the Columbus Art Commission to launch a community-driven process that embraces diversity. This process would determine how to best replace the statue while evaluating other monuments and art installations on their diversity and inclusiveness.The Arts Commission will also help determine the final disposition for the statue, working with the community to determine, in the proper context, if it should be displayed elsewhere to help future generations understand the ongoing conversations about racism and why leaders ultimately decided on its removal.“By replacing the statue, we are removing one more barrier to meaningful and lasting change to end systemic racism,” said Ginther. “Its removal will allow us to remain focused on critical police reforms and increasing equity in housing, health outcomes, education and employment.”This story originally reported by Kaylyn Hlavaty on news5cleveland.com. 1597
The Democratic National Committee is suing the Trump campaign, Russia, WikiLeaks founder Julian Assange and several associates of President Donald Trump alleging a grand racketeering, hacking and fraudulent conspiracy that harmed Democrats through WikiLeaks' publication of internal party emails during the 2016 presidential campaign.Those named in the lawsuit include several top Trump advisers who attended the now-infamous June 2016 meeting in Trump Tower, longtime Trump confidant Roger Stone, former Trump campaign chairman Paul Manafort and former campaign adviser George Papadopoulos and others.The 66-page lawsuit filed in Manhattan federal court on Friday lays out how the Trumps curried favor in Russia through their family business, and then Russia allegedly worked with Trump advisers before the presidential election to disseminate the spoils from a cyberattack of the DNC.The Democratic Party says the conspiracy and the hacking hurt their relationship with voters, chilled donations, disrupted their political convention and subjected their staffers to harassment. The lawsuit outlines nearly every known communication between Trump advisers and Russians.The Washington Post first reported the lawsuit.Special counsel Robert Mueller was appointed by Deputy Attorney General Rod Rosenstein last year to investigate Russian efforts to interfere in the 2016 election. As part of that mandate, Mueller is empowered to investigate any links between the Russian government and Trump campaign associates.The US intelligence community has concluded that Russian President Vladimir Putin ordered "an influence campaign" in 2016 with the goal of undermining public confidence in the US democratic process and eroding Hillary Clinton's chances of winning the presidency.Trump, however, has repeatedly insisted that there was no collusion between his campaign and the Russians, and has denounced the special counsel investigation as a "witch hunt."In the summer of 2016, the Democratic National Committee went public with claims that Russians hackers had gained access to their computer systems, obtaining emails and opposition research against Trump.Then, just days before the Democratic National Convention when Clinton was set to receive the party's presidential nomination, WikiLeaks published tens of thousands of hacked DNC emails.The release of the emails, which included messages disparaging Bernie Sanders, threw the Democratic Party into turmoil at a moment when the party was supposed to be coming together in support of a nominee, and intensified in-fighting between supporters of Clinton and Sanders. 2630
The Bureau of Labor Statistics says that the hospitality industry has been among the hard-hit during the coronavirus pandemic. But some are using the pandemic to test out new adventurous revenue streams amid the pandemic.With the industry severely impacted, there is an opportunity for hotels to monetize its space.HotelsByDay, a company that allows customers to use hotel rooms during daytime hours, lost 80% of its business during the height of the pandemic. But as many workers are unable to return to the office, some are booking rooms as officers.The company is now down 40%, with many clients booking rooms for work purposes.“It would be a lot more adventurous and can really test out every single possibility to monetize their hotel,’ Yannis Moati, the CEO of HotelsByDay said. “Not just with rooms, but with every single corner of the hotel.”According to the BLS, nearly half of all hospitality industry jobs were lost in April, with hotels losing 0 million a day. Six out of 10 hotel rooms were empty early in July. 1035
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