With financial regulation under scrutiny, officials meet with small business owners

SAN DIEGO, CA --- Small business owners met with federal regulators in San Diego today to explain the significant financing challenges they routinely face in starting and running their businesses. The meeting included representatives from the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Consumer Financial Protection Bureau (CFPB), Federal Reserve, and the Small Business Administration (SBA).

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Consumer Financial Protection Bureau Explores Ways to Assess the Availability of Credit for Small Business

Banks still give far fewer loans to small businesses than they did before the 2008 financial crisis, even though lending to big businesses is up. In a hearing with CFPB Director Richard Cordray, Main Street Alliance small business owners ask why. 

 

 

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CFPB to host field hearing about small business lending

FOR PLANNING PURPOSES ONLY:

May 9, 2017

***MEDIA ADVISORY***

CONSUMER FINANCIAL PROTECTION BUREAU TO HOST FIELD HEARING ABOUT SMALL BUSINESS LENDING

WASHINGTON, D.C. – Tomorrow, Wednesday, May 10, the Consumer Financial Protection Bureau (CFPB) will convene a public field hearing focused on small business lending. The field event will feature remarks by CFPB Director Richard Cordray, California Attorney General Xavier Becerra, California Department of Business Oversight Commissioner Jan Lynn Owen, and Los Angeles City Attorney Mike Feuer, followed by a panel discussion with consumer advocates and industry representatives, and concluding with testimony from members of the public. The event will be livestreamed at consumerfinance.gov.

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Trumpcare Tramples Small Businesses

GOP repeal bill strips health care from millions to finance $600 billion tax giveaway to corporations, wealthiest. Small business owners say this bill is not only immoral, but also hurts their businesses. 

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Trump's Tax Plan: No Country for Small Business

The Trump Administration released an outline today of its plan to reform the corporate tax code. In general, the plan offers huge tax cuts for corporations and high-earning individuals - its cornerstone reform is a corporate tax rate cut from 35% to 15% - with changes to deductions that are nowhere near enough to offset the cost.

Amanda Ballantyne, the National Director of Main Street Alliance, released the following statement:

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Small business owners make their voices heard in Washington

President Trump’s health care and tax policies burden Main Street

Washington, DC -- Today, small business owners stood with more than a thousand allies in protesting President Trump’s policies that are hurting their businesses and communities.

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MEDIA ADVISORY: New Report on Access to Capital

A new Woodstock Institute report, Patterns of Disparity: Small Business Lending in the Buffalo and New Brunswick Regions, shows that small businesses in lower income and minority areas are less likely to get a loan.

Join us for a public briefing about the report. Call-in details below.

 

 

 

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Rep. Ellison and Small Business Owners Say The Trump Budget benefits corporations and the wealthy, leaving out the needs of small businesses

TOP LINE: Ahead of tax day 2017, US Representative Keith Ellison and Minnesota State Representative Erin Murphy met with 15 Main Street Alliance Minnesota small business owners to talk about critical issues for small business owners when it comes to national and local budget plans.

 

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Small businesses shouldn’t pay a higher tax rate than multinational corporations

new Pew poll confirms most Americans agree with Main Street Alliance small business owners: corporations and the wealthy don’t pay enough in taxes. The survey shows that 62 percent said they are bothered “a lot” that corporations don’t pay their fair share, and 60 percent say the rich don’t pay enough.

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With tax reform looming, small business owners get behind a bill that ends offshoring

The current tax code is riddled with loopholes that enable large, multinational corporations to avoid or evade paying taxes, which shifts their tax responsibilities to small businesses and average taxpayers. Today, Rep. Mark Pocan (D-WI) introduced new tax legislation that aims to close those major offshore tax avoidance loopholes.

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