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Small Business SBA Lending Programs Financial Institutions

Foley & Lardner LLP

SBA Franchise Directory Reinstated, Easing Loan Access for Franchisees

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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

IR Global

The New CFPB Small Business Lending Rule Moves Forward

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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

House Republican introduces resolution to nullify CFPB non-bank registry rule

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Rep. Andy Ogles, R-Tenn., on August 30, 2024 introduced in the House of Representatives a resolution under the Congressional Review Act (CRA) that would nullify the CFPB’s final nonbank registry rule....more

Ballard Spahr LLP

Defendant Challenges FDIC Enforcement Proceeding, Citing Jarkesy

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In one of the first tests of the implications of the Jarkesy decision for other federal regulatory agencies, an individual accused by the FDIC of participating in fraudulent loan activity is asking a federal judge to dismiss...more

Troutman Pepper Locke

Texas Federal District Court Rejects All Administrative Procedure Act Challenges to CFPB’s Section 1071 Final Rule

Troutman Pepper Locke on

Monday, the U.S. District Court for the Southern District of Texas granted the Consumer Financial Protection Bureau’s (CFPB or Bureau) motion for summary judgment on all Administrative Procedure Act (APA) challenges brought...more

Ballard Spahr LLP

CFPB Releases Updated 1071 Filing Instructions Guide

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On August 16, 2024 the CFPB issued an updated 2025 Small Business Lending Filing Instructions Guide (the “Guide”). The Guide provides updated compliance dates that correspond to the new compliance dates....more

Ballard Spahr LLP

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

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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

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights, Issue 6

Welcome to our sixth issue of Promissory Notes -- our e-newsletter focused on banking and finance insights. SBA to Drop Its Review of PPP Loans of $2 Million and Above - "The effort marks an about-face for the agency...more

Proskauer Rose LLP

Paycheck Protection Program – Where Are We Now? An Up-To-Date Guide to the Paycheck Protection Program (UPDATED)

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Originally published on April 14, 2020. Last updated as of the evening of May 25, 2020. Since the enactment of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) on March 27, 2020, the U.S. Small...more

Goodwin

Trends in U.S. Paycheck Protection Program Class Actions

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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

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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

Alston & Bird

How the CARES Act Will Affect Banking During the Coronavirus Emergency

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The Coronavirus Aid, Relief, and Economic Security (CARES) Act sprawls across 800 pages. Our Financial Services & Products Group delves into the sections that deal specifically with banking and lending....more

Ballard Spahr LLP

Director Corday announces extension of comment period for small business lending RFI, restructuring of debt collection rulemaking

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In his prepared remarks for the Consumer Advisory Board meeting held on June 8, 2017, Director Cordray discussed CFPB initiatives in four areas. In addition to the CFPB’s letter to the top retail credit card companies...more

Smith Debnam Narron Drake Saintsing & Myers,...

Guest Post: CFPB Issues Request for Information Regarding Small Business Lending

The CFPB has issued a Request for Information (RFI) to collect data that will shed light on how small businesses engage with financial institutions, with a particular focus on women-owned and minority-owned small businesses....more

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