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Financial Institutions Lenders Small Business Loans

Troutman Pepper Locke

SBA Orders Small Business Lenders to End Debanking Practices Pursuant to President Trump’s Executive Order

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On August 26, the U.S. Small Business Administration (SBA) took action to enforce President Trump’s directive by issuing a letter to its network of over 5,000 lenders. This letter mandates the cessation of alleged politicized...more

Offit Kurman

SBA Franchise Directory Reinstated: Key 2025 Updates for Franchisors and Franchisees

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The U.S. Small Business Administration reinstated the Small Business Administration (SBA) Franchise Directory on June 1, 2025, reversing the 2023 decision to sunset the program. The Directory has long been the primary...more

Akerman LLP

SBA Franchise Directory Returns June 2025 with New Certification Rules

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The U.S. Small Business Administration confirmed this week that it will reinstate the SBA Franchise Directory on June 1, 2025, reversing the 2023 decision to sunset the program. The Directory has long been the primary...more

Hudson Cook, LLP

Alaska's Anti-Evasion Bill: A Threat to Small Business Lending and Modern Bank-Fintech Partnerships

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A number of states have considered - and some have enacted - laws to regulate strategic partnerships between banks and technology companies that act as service providers....more

Holland & Knight LLP

CFPB Plans to Reopen Section 1071 Small Business Lending Rule

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The Consumer Financial Protection Bureau (CFPB) has revealed its intention to make changes to the small business loan data collection and reporting rule (1071 Rule) in light of continued opposition from financial institutions...more

Sheppard Mullin Richter & Hampton LLP

CFPB Seeks to Reopen Small Business Lending Rule Under Section 1071

On April 3, the CFPB informed a Florida federal district court that it plans to initiate new rulemaking to revise its small business lending data collection rule under Section 1071 of the Dodd-Frank Act. The Bureau agreed to...more

Stinson LLP

An Uncertain Future for CFPB's Section 1071 Rule Regarding Small Business Lending Data

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In a pivotal development, the U.S Court of Appeals for the Fifth Circuit has stayed enforcement of the Consumer Financial Protection Bureau’s (CFPB) Small Business Lending Rule — also known as Section 1071 of the Dodd-Frank...more

GeoDataVision

Section 1071 Rule: The Big Gap Between Small Business Lending and “Covered” Loans

GeoDataVision on

I’ve written articles critical of the Section 1071 Rule and the CFPB’s implementation of the new rule. For example, the scheduled “applicable dates” for data recording and reporting make no sense at all. As currently...more

Mayer Brown

CFPB Preliminarily Determines State Commercial Financing Disclosure Laws Not Preempted by Truth in Lending Act

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Small business lenders hoping for federal intervention will be disappointed to learn that the Consumer Financial Protection Bureau (CFPB) has reached a preliminary determination that New York’s new commercial financing...more

Goodwin

SEC Adopts Broad Exempt Offering Reforms

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In the News. The Securities and Exchange Commission (SEC) adopted broad exempt offering reforms; the Department of Labor (DOL) finalized a rule, with significant revisions from the original proposal, on ESG investments; the...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Preparing Today for Tomorrow's PPP Audit

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Part of the 2020 Business Solutions Series presented by by the Hampton Roads Alliance and Williams Mullen Charles E. “Chuck” James, Jr., co-chair of both the Firearms Industry Group and the White Collar & Investigations...more

Pierce Atwood LLP

Judicial Panel on Multidistrict Litigation Refuses to Consolidate Class Action Litigation Concerning Paycheck Protection Program

Pierce Atwood LLP on

In four separate decisions issued on August 5, 2020, the U.S. Judicial Panel on Multidistrict Litigation declined to consolidate for pretrial purposes dozens of actions against national banks arising from their roles as...more

Goodwin

Financial Services Weekly Roundup: PPP Borrowers And Lenders Under The Microscope

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In This Issue. The U.S. Securities and Exchange Commission (SEC) proposed a new rule that would establish a revised framework for the fair value determination for purposes of the Investment Company Act of 1940 and have...more

Spilman Thomas & Battle, PLLC

The Impending Seismic Shift for Distressed Small Businesses?

As we all know by now, much of our day-to-day lives have been upended by the COVID-19 pandemic. We are being told by everyone everywhere - the CDC, the President, governors, mayors, public health officials - we need to...more

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