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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

Akerman LLP on

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

Foley & Lardner LLP

SBA Franchise Directory Reinstated, Easing Loan Access for Franchisees

Foley & Lardner LLP on

Effective June 1, 2025, the U.S. Small Business Administration (SBA) will reinstate its Franchise Directory, a critical development for franchise systems and franchisees seeking SBA financing. Originally launched in 2018 and...more

Lippes Mathias LLP

The Rise and Fall of the Paycheck Protection Program

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The Long-Term Effects Felt by Lenders Nationwide. As a result of the United States government instituting the Paycheck Protection Program (“PPP”), companies nationwide have defaulted on hundreds of thousands of PPP loans,...more

Venable LLP

Small Business Lenders Data Reporting Obligations Under Section 1071

Venable LLP on

The Consumer Financial Protection Bureau ("CFPB" or "Bureau") recently published a Small Entity Compliance Guide (the "Guide") regarding Section 1071 of the Dodd-Frank Act, which amended ECOA to require that financial...more

Goodwin

Fed Proposes Guidelines for Access to Master Accounts and Payment Services

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In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve), in response to an increased number of inquiries and access requests from companies with fintech and other narrow purpose charters, invited...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 1

Welcome to our inaugural issue of Promissory Notes -- our e-newsletter focused on banking and finance insights. This monthly publication will look at the top news stories in the industry, while also explaining WHY those news...more

Goodwin

SEC Releases 2021 Examination Priorities

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Goodwin

SEC Issues No-Action Relief On Registered Funds’ Custody Of Loan Interests

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) was very active this week, having (i) issued no-action relief allowing registered funds to engage in self-custody of interests in loans that are originated,...more

Schwabe, Williamson & Wyatt PC

PPP Loans Over $2 Million and the PPP Necessity Questionnaires - Update #2

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked some Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans over $2 million. There are...more

Bradley Arant Boult Cummings LLP

CARES Act Doesn’t Entitle Accountants to Fees for Helping Borrowers Get PPP Loans

The Paycheck Protection Program (PPP) of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was expanded by the Paycheck Protection & Health Care Enhancement Act, provides more than $650 billion...more

Ballard Spahr LLP

PPP Lenders and Fraudulent Borrowers: False Claims Act Liability and AML Risk

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Can BSA/AML Requirements Lead to Deemed Knowledge of Borrower Fraud? The first two weeks of August brought a milestone of sorts in the ongoing recovery from the economic downturn brought on by the COVID-19 pandemic. The...more

Goodwin

Financial Services Weekly Roundup: Code Libor – SEC And OCIE Issue Risk Alert In Preparation Of Libor Discontinuation

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In This Issue. The Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert about the scope and content of examinations OCIE plans to conduct of various...more

Skadden, Arps, Slate, Meagher & Flom LLP

Summary of 28th Annual Conference on Fair Lending and Consumer Financial Protection

Year In Review - Anand Raman, the head of Skadden’s Consumer Financial Services (CFS) practice, began the conference by providing a summary of notable events and trends over the past year relating to consumer financial...more

Goodwin

Financial Services Weekly Roundup: May Introduces Additions And Expansions To Covid-19-related Policies

Goodwin on

In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve) expanded access to its Paycheck Protection Program Liquidity Facility (PPPLF) to non-bank lenders and expanded the collateral eligible to...more

Goodwin

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

Goodwin on

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

Goodwin

Trends in U.S. Paycheck Protection Program Class Actions

Goodwin on

Early uncertainty and the initial lapse in appropriations for the U.S. CARES Act’s Paycheck Protection Program (PPP) set off a wave of litigation by disgruntled small businesses who have been unable to secure PPP loans. PPP...more

Goodwin

Financial Services Weekly Roundup: April (Liquidity) Showers Bring May Borrower Protection

Goodwin on

In this Issue: Senate Votes to Expand Paycheck Protection Program; FHFA (Finally) Addresses Liquidity Concerns for Mortgage Servicers. Yesterday, the U.S. Senate unanimously passed legislation providing $484 billion in...more

McGuireWoods LLP

No Private Right of Action to Enforce CARES Act; Expect Claims Under State Consumer Protection Laws

McGuireWoods LLP on

As previously reported, the U.S. District Court for the District of Maryland denied multiple motions brought by a number of small business owners related to seeking emergency relief to enjoin Bank of America from imposing...more

Vedder Price

The CARES Act: What Does It Mean for Financial Institutions?

Vedder Price on

On March 27, 2020, the President signed into law the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”). While the CARES Act contains a variety of provisions, including, among other things, unemployment...more

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