News & Analysis as of

Small Business Loans Final Rules

Holland & Knight LLP

CFPB Launches Additional Rulemaking, Procedural and Administrative Changes

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The CFPB has continued to announce additional procedural, rulemaking and administrative changes, with the latest being three postings to the Federal Register on June 18, 2025: 1) a final rule rescinding the Procedure Relating...more

GeoDataVision

2025 Section 1071 Interim Final Rule: What It Says. Who is Affected. Problems Created. What Lenders Should Do

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On June 18, 2025, the CFPB published its 2025 Section 1071 Interim Final Rule. Lenders covered by the 2024 Section 1071 Interim Final Rule should know what the 2025 Rule is changing, how it affects them and what they can and...more

Cooley LLP

CFPB Issues Interim Final Rule Extending Small Business Lending Rule Compliance Deadlines

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The Consumer Financial Protection Bureau (CFPB) recently issued an interim final rule (2025 interim final rule) delaying compliance deadlines for a second time for its small business lending data collection rule, which...more

Troutman Pepper Locke

CFPB Extends Compliance Dates for Section 1071 Rule Again Amid Ongoing Litigation

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The Consumer Financial Protection Bureau (CFPB or Bureau) published in the Federal Register an interim final rule extending compliance dates for its 2023 small business lending rule under the Equal Credit Opportunity Act...more

Hudson Cook, LLP

CFPB Bites of the Month - April 2025 - "I'll Remember April and the CFPB"

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In this month's article, we share some of our top "bites" covered during the April 2025 webinar....more

Kilpatrick

CFPB Signals Significant Changes to Small Business Lending Rule: New Section 1071 Rulemaking Forthcoming

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The Consumer Financial Protection Bureau (CFPB or Bureau) recently announced that it plans to revisit – and potentially revise – its controversial small business data collection rule implementing Section 1071 of the...more

Ballard Spahr LLP

CFPB to Reopen Rulemaking on the Section 1071 Small Business Loan Data Collection and Reporting Rule

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As we have reported previously, including here, here, and here, the CFPB’s section 1071 small business loan data collection and reporting rule is facing court challenges.  The U.S. Court of Appeals for the Fifth Circuit has...more

Troutman Pepper Locke

CFPB Files “Emergency Notice” in 1071 Final Rule Case and Does Not Oppose Stay of the 1071 Rule; Agency Also Seeking a “Pause” in...

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Hours before a scheduled hearing yesterday, the Consumer Financial Protection Bureau (CFPB or Bureau) filed an “Emergency Notice” in the U.S. Court of Appeals for the Fifth Circuit with respect to the ongoing litigation...more

Ballard Spahr LLP

Federal District Court on September 23, 2024, entered final judgement in favor of the CFPB in lawsuit challenging its small...

Ballard Spahr LLP on

Judge Randy Crane (E.D. Tex) ruled on August 26, 2024 that the CFPB did not exceed its authority under Dodd Frank when it issued its final Section 1071 small business lending rule. The court also rejected other Administrative...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2024

The CFPB, as part of its initiative to accelerate the shift to open banking in the United States, issued a final rule on June 5 that outlines the qualifications to become a recognized industry standard setting body, which can...more

Cooley LLP

CFPB Extends Compliance Dates for Small Business Lending Rule

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On June 25, 2024, the Consumer Financial Protection Bureau (CFPB) formally extended by 290 days the effective date for its small business lending rule, initially released in March 2023....more

Orrick, Herrington & Sutcliffe LLP

Banking associations petition District Court for summary judgment against CFPB’s Final Rule on small business lending

On March 1, several banking associations (plaintiffs) petitioned a district court under a motion for summary judgment in an ongoing case against CFPB’s Final Rule in §1071, claiming that the Final Rule goes beyond the scope...more

Lippes Mathias LLP

SBA to Adopt Revised Small Business Loan Guidelines Effective March 2024

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On February 15th, the U.S. Small Business Administration published a final rule to adopt the current statutory alternative size standard for its 7(a) and 504 loan programs, subject to an adjustment for inflation that has...more

Nutter McClennen & Fish LLP

Nutter Bank Report: January 2024

OCC Requests Public Comments on Proposed Bank Merger Policy Statement and Rules The OCC has proposed a new policy to increase the transparency of the standards that the agency applies to review business combinations involving...more

Troutman Pepper Locke

Small Business Lenders Score Big Relief: Texas Federal District Court Grants Nationwide Injunction Against CFPB’s Implementation...

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In a major victory for small business lenders, yesterday the U.S. District Court for the Southern District of Texas granted motions filed by three groups of trade association intervenors to extend the court’s existing...more

Ballard Spahr LLP

Is there a better route to nationwide relief than multiple preliminary injunction motions in the Texas lawsuit challenging the...

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This past Thursday, August 31, another preliminary injunction motion was filed in the Texas lawsuit challenging the CFPB’s small business lending rule (Rule). The latest motion was filed by XL Funding, LLC d/b/a Axle...more

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2023

A federal court has issued an order granting an injunction that delays the compliance dates for the CFPB’s final rule governing the collection of small business lending data required by Section 1071 of the Dodd-Frank Wall...more

Ballard Spahr LLP

CFPB files opposition to preliminary injunction motion of intervenors in Texas lawsuit challenging CFPB’s small business lending...

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The CFPB has filed its opposition to the motion for a preliminary injunction filed by the intervenors in the Texas federal court lawsuit challenging the CFPB’s final small business lending rule (Rule).  The intervenors are...more

Ballard Spahr LLP

Plaintiffs in Kentucky lawsuit challenging CFPB final small business lending rule file motion for preliminary injunction

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The Kentucky banks and Kentucky trade association that filed a lawsuit in a Kentucky federal district court challenging the CFPB’s final small business lending rule (Rule) have filed a motion for a preliminary injunction. ...more

Ballard Spahr LLP

CFPB releases update for small business lending data filing instructions guide

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The CFPB has released an update to the Filing Instructions Guide for Small Business Lending Data. The Guide is intended to serve as a set of resources for entities who will be required to file small business lending data with...more

Ballard Spahr LLP

Texas federal court grants motion of community bank and community bank trade groups for leave to intervene in lawsuit challenging...

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Two new developments occurred recently in the Texas lawsuit challenging the CFPB’s final small business lending rule (Rule)....more

Ballard Spahr LLP

Texas federal court grants credit union motion for leave to intervene in lawsuit challenging CFPB final small business lending...

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A Texas credit union and two credit union trade associations have been granted leave to intervene in the lawsuit challenging the CFPB’s final small business lending rule (Rule) that is pending in a Texas federal district...more

Ballard Spahr LLP

Why the Texas federal court should have gone further in preliminarily enjoining the CFPB from implementing and enforcing its small...

Ballard Spahr LLP on

On Monday, the Texas federal district court hearing the lawsuit challenging the validity of the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act (Rule) issued an order that preliminarily enjoins the CFPB from...more

Troutman Pepper Locke

Section 1071 Final Rule: Anti-Discouragement Provisions

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As recently discussed on our podcast here, section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) amended the Equal Credit Opportunity Act (ECOA) to require lenders to collect...more

Troutman Pepper Locke

Section 1071 Final Rule: Data Collection and Reporting

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As recently discussed on our podcast, section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) amended the Equal Credit Opportunity Act (ECOA) to require lenders to collect...more

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