News & Analysis as of

SBA Lending Programs Reporting Requirements

Cooley LLP

To Carry Out EO, SBA Orders Its Lenders to Review and End Debanking Practices

Cooley LLP on

On August 26, the US Small Business Administration (SBA) instructed its network of more than 5,000 lenders to “cease any politicized or unlawful debanking actions,” in direct response to President Donald Trump’s recent...more

Orrick, Herrington & Sutcliffe LLP

Small Business Admin. letter directs lenders to end “unlawful banking”

On August 26, the U.S. Small Business Administration (SBA) announced that it sent a letter to over 5,000 lenders with instructions to end “politicized and unlawful banking practices,” stating that lenders who fail to comply...more

IR Global

The New CFPB Small Business Lending Rule Moves Forward

IR Global on

The new small business finance rule passed by the Consumer Financial Protection Bureau (CFPB) requires “Covered” financial institutions to collect and report data on applications for credit for small businesses. This rule,...more

Ballard Spahr LLP

Kentucky Court Grants a Stay of Case Pending a Decision in the Texas Small Business Lending Lawsuit

Ballard Spahr LLP on

On August 7, 2024, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay the small business lending rule litigation before the court until resolution of the similar case pending in the...more

Proskauer - Regulatory & Compliance

U.S. District Court in Alabama Finds the Corporate Transparency Act Unconstitutional

On March 1, 2024, Judge Liles C. Burke of the U.S. District Court for the Northern District of Alabama ruled that the Corporate Transparency Act (the “CTA”) is unconstitutional, leaving its future uncertain. The CTA requires...more

Troutman Pepper Locke

CFPB’s Section 1071 Final Rule (Part 1): A General Overview - The Consumer Finance Podcast

Troutman Pepper Locke on

Please join Troutman Pepper Partner Chris Willis and his colleagues Lori Sommerfield, Addison Morgan, and Josh McBeain for the first installment of a special three-part series about the Consumer Financial Protection Bureau’s...more

Snell & Wilmer

Oversight & the CARES Act – Be Prepared

Snell & Wilmer on

On March 27, the largest stimulus package in American history, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), was signed into law by President Trump, which will ultimately inject $2.2 trillion into the...more

Foley & Lardner LLP

Implications for the Fashion, Apparel & Beauty Industries Due to the Coronavirus

Foley & Lardner LLP on

Like other industries, the fashion, apparel & beauty businesses have been, and continue to be hit hard by the COVID-19 pandemic. The $400 billion dollar American fashion industry employs over four million people, excluding...more

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