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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 this week is sending a strong message to American cities: if you can't stop crime, federal agents may be on the way.On Wednesday, Attorney General William Barr announced the launch of "Operation Legend" — named after a 4-year-old boy, LeGend Taliferrom, who was shot and killed while he was sleeping in Kansas City last month.Kansas City is one of several American cities dealing with an uptick in crime. According to the Department of Justice, violent crime is up 40% since last year, with at least 100 murders so far this year.The New York Times recently reported the top 25 largest American cities had seen a 16% increase in murders in recent months.What is "Operation Legend?"The mission will send around 100 FBI, ATF and DEA agents, as well as some U.S. Marshals, to Kansas City to aid in crime prevention.Agents are not expected to assume command of active investigations but rather serve as a deterrent to violent crime."Operation Legend will combine federal and local resources to combat the disturbing uptick in violence by surging federal agents and other federal assets into cities like Kansas City, a city currently experiencing its worst homicide rate in its history," Barr said in a statement.Kansas City will not likely be the last place federal agents go. The release hinted Kansas City was just the "beginning" of Operation Legend. 1382

The CBS board of directors is in the process of picking outside counsel to conduct an investigation after company CEO Les Moonves was accused of sexual misconduct.In a statement, CBS said that "no other action" was taken on the matter at Monday's board meeting.The meeting was scheduled before a bombshell report in The New Yorker Friday detailed allegations against the CEO. Six women told the magazine that Moonves sexually harassed them.In a statement to The New Yorker that was also obtained by CNNMoney on Friday, Moonves said he has "promoted a culture of respect and opportunity for all employees" throughout his tenure at CBS."I recognize that there were times decades ago when I may have made some women uncomfortable by making advances," Moonves said. "Those were mistakes, and I regret them immensely. But I always understood and respected — and abided by the principle — that 'no' means 'no,' and I have never misused my position to harm or hinder anyone's career."The idea that Moonves should step aside during the probe was raised by at least some board members this weekend, according to one source who spoke to CNNMoney on Sunday.The board also said on Monday that it would postpone its annual meeting of stockholders, which was scheduled to be held August 10. A new date has not yet been announced. It was not clear why the board decided to reschedule that meeting. 1400

The Creek Fire in Central Californa continues to rage out of control nearly a week after it started.In Fresno County Tuesday, authorities helped rescue 142 people who had been trapped by the flames.CBS News reports that rescue officials were forced to make eight rescue trips on Tuesday.One person was found dead, but officials say that person died from natural causes unrelated to the fire.The Creek Fire had grown to more than 152,000 acres and was still 0% contained as of Tuesday evening. CBS News reports that the fire has destroyed more than 80 structures, including 60 homes.Firefighters battling the Creek Fire have had to deal with low humidity and high wind gusts in recent days — weather conditions that will likely carry through until Thursday.The Creek Fire is one of 11 large wildfires that the California Department of Forestry and Fire Protection. September typically marks the beginning of wildfire season in western states. 949

The daughter of a hiker who was missing in Zion National Park for nearly two weeks has told CNN that her mother injured her head and became disoriented during the hike.Holly Courtier, 38, was found Sunday after having not been seen since she was dropped off by shuttle on Oct. 6. Courtier's daughter, Kailey Chambers, pleaded with volunteers to help find her mother during the disappearance, saying Courtier was an experienced hiker who would not have gone missing as she did without a reason.In text messages with the cable network, Chambers gave an explanation for what happened to her mother during the two weeks she was missing."She injured her head on a tree," Chambers texted. "She was very disoriented as a result and thankfully ended up near a water source -- a river bed. She thought her best chance of survival was to stay next to a water source."In the texts, Chambers says her mother went without food the entire time she was missing."She was too weak and disoriented (to seek help)," she said. "She was unable to take more than a step or two without collapsing. This prevented her from being able to seek out help. She told me she was so dehydrated she couldn't open her mouth."Courtier was found in the park Sunday after officials received a tip from a credible source. 1291

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