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Morgan Lewis

Kazakhstan Introduces Unified Register of State Support Measures for Private Entrepreneurship

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The Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan recently adopted Order No. 55, which came into force on 6 July 2025. The order approves the Register of State Support Measures, which...more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — The Consumer Finance Podcast

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In this special crossover edition of Payments Pros and The Consumer Finance Podcast, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....more

Troutman Pepper Locke

From Banks to FinTech: The Evolution of Small Business Lending — Payments Pros – The Payments Law Podcast

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In this special crossover edition of the Payments Pros and Consumer Finance podcasts, Carlin McCrory and Jason Cover are joined by their colleague Caleb Rosenberg to explore the evolving landscape of small business financing....more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2025

The Federal Reserve has announced that the agency will no longer assess reputational risk when examining banks’ risk management processes. According to the June 23 announcement, the Federal Reserve has already begun reviewing...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

GeoDataVision

Why Do Federal Bank Regulators Create a Commercial Monopoly on Key Benchmark Data?

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Ever since the 1995 CRA rule was published bank regulators have mandated certain “community” and “market” benchmarks as the basis for rating bank performance under the CRA regulations. Most of that data is in the public...more

Holland & Knight LLP

CFPB Provides Supervision and Enforcement Reprieve on Small Business Lending Rule

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In connection with its regulation titled "Small Business Lending Under the Equal Credit Opportunity Act (Regulation B)," implementing Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 88 Fed. Reg....more

Mitchell, Williams, Selig, Gates & Woodyard,...

95th Arkansas General Assembly: Senate Bill Introduced to Repeal Small Business Revolving Loan Fund for Pollution Control and...

Senator Irvin of Mountain View has introduced Senate Bill 367 which would repeal the Small Business Revolving Loan Fund for Pollution Control and Prevention Technologies Act (“Act”). The Act is found in Chapter 5,...more

Ballard Spahr LLP

FTC obtains preliminary injunction against Seek Capital and CEO Roy Ferman

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A federal judge has issued a preliminary injunction against Seek Capital and its founder and CEO, Roy Ferman, barring the company from making false claims and forbidding the company from contacting any consumers whose...more

Ballard Spahr LLP

Republicans renew efforts to repeal Section 1071

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Republicans on Capitol Hill are seeking to repeal a section of the Dodd-Frank Act that requires financial institutions to report information contained in loan applications submitted by women-owned, minority-owned and...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

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

Troutman Pepper Locke

Uncovering Disparities: The CFPB's Small Business Lending Study – The Consumer Finance Podcast

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Join host Chris Willis and guests Lori Sommerfield and Joseph Reilly in this episode of The Consumer Finance Podcast as they delve into the CFPB's recent study on differential treatment in small business lending. Discover the...more

Ballard Spahr LLP

CFPB Issues Matched Pair Testing Report on Small Business Lending

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The CFPB recently issued a report entitled Matched-Pair Testing in Small Business Lending Markets that summarizes results of small business lending matched pair testing that it conducted in conjunction with the U.S....more

Husch Blackwell LLP

CFPB Pilot Study Finds Differential Treatment in Small Business Lending Markets

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On November 13, the Consumer Financial Protection Bureau (CFPB) released a report on matched-pair testing in small business lending, highlighting potential racial discrimination. The study reveals that Black small business...more

Cozen O'Connor

FTC’s Lawsuit Against Seek Capital Alleges Consumers Would Be Wise to Seek Capital Elsewhere

Cozen O'Connor on

The FTC has filed a lawsuit against Seek Capital, LLC and its founder (collectively “Seek”) alleging deceptive practices in violation of multiple federal consumer protection laws. The FTC’s complaint alleges that Seek markets...more

Troutman Pepper Locke

CFPB Releases Study on Differential Treatment of Black and White Small Business Owners Seeking Loans

Troutman Pepper Locke on

On November 13, the Consumer Financial Protection Bureau (CFPB or Bureau) released a pilot study titled “Matched-Pair Testing in Small Business Lending Markets” highlighting what the CFPB believes were two statistically...more

Orrick, Herrington & Sutcliffe LLP

5th Circuit denies admin. stay under Section 1071, but expedites case

As previously covered by InfoBytes, several lender groups filed against the CFPB under Section 1071 arguing that the final rule on small business lending goes beyond the scope of the CFPB’s rulemaking authority. The lender...more

Lathrop GPM

California Extends Fair Debt Collection Statute To Cover Small Business Debts up to $500,000

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Similar to the federal Fair Debt Collection Practices Act (FDCPA), California’s “Rosenthal Fair Debt Collection Practices Act” (RFDCPA) has historically regulated the manner in which debt collectors interact with borrowers...more

Sheppard Mullin Richter & Hampton LLP

Federal Court Upholds CFPB’s Small Business Lending Rule

On August 26, the United States District Court for the Southern District of Texas issued a decision upholding the legality of the CFPB Small Business Lending Rule (the “Rule”) (designed to implement section 1071 of the...more

Ballard Spahr LLP

CFPB Releases Interim Final Rule Extending 1071 Compliance Dates

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On June 25th, the CFPB issued an interim final rule with a request for public comment extending the compliance dates for the Small Business Lending Rule in light of the Supreme Court’s decision finding the funding structure...more

Orrick, Herrington & Sutcliffe LLP

CFPB extends its small business lending rule and opens comment period

On June 25, the CFPB released its formal action to extend the compliance dates for its small business lending rule, section 1071 (covered by InfoBytes here). The extension of 290 days represented the time elapsed between the...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

Ballard Spahr LLP

CFPB Remarks on SCOTUS Decision; Extended 1071 Small Business Lending Compliance Dates

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On May 16, 2024, the U.S. Supreme Court, in a 7-2 decision, ruled that the CFPB’s funding mechanism does not violate the Appropriations Clause of the U.S. Constitution....more

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