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Federal Reserve Board Recognizes Asian Small Business Group

LOS ANGELES, Calif., Jan. 18, 2007

The Federal Reserve Board named the Director of the Asian Pacific Islander Small Business Program (API SBP), to its Consumer Advisory Council. API SBP is a non-profit collaborative established in 1999 to assist the development of Asian and Pacific Islander small and micro businesses in Los Angeles. It focuses on helping low income immigrants, especially in Chinatown and parts of the San Gabriel Valley, Koreatown, Little Tokyo, Thai Town and the Pilipino business communities.

API SBP provides community based training and technical support services to entrepreneurs and small businesses through an experienced team of Business Counselors working in eight languages. API SBP is a federal Small Business Administration Women's Business Center.

Cooke Sunoo, the API SBP director was selected by the Federal Reserve Bank Board of Governors based on API SBP's work as well as his Board activities on the Asian Revolving Loan Fund and California Association of Microenterprise Organizations. Sunoo is also an active member of the Wells Fargo Community Advisory Board and previously served on the US Congress Small Business Committee Advisory Committee on Finance.

Ten individuals from across the country were appointed to three year terms to the Fed's Advisory Council. The Council represents consumers, communities and the finance service industry and advises the Fed on its responsibilities under the Consumer Credit Protection Act and other matters in the area of consumer financial services. The Council meets with members of the Fed's Board of Governors three times a year in Washington, D.C..

In December, 2006 Governor Schwarzenegger appointed Sunoo to the California Small Business Board. This Board advocates on behalf of the small-business community and advises the governor on small-business issues. It is housed within the Business, Transportation and Housing Agency and operates through the Office of Small Business.