News & Analysis as of

Small Business Lending Consumer Financial Protection Bureau (CFPB)

Orrick, Herrington & Sutcliffe LLP

CFPB releases beta platform for small business lending data filing platform

On August 27, the CFPB launched a beta platform for the small business lending data collection rule under Section 1071 of the Dodd-Frank Act. Financial institutions and their technology Participants can upload sample data...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

Sheppard Mullin Richter & Hampton LLP

Trade Groups Continue Fight Against CFPB’s 1071 Small Business Rulemaking

In the latest development to challenges to the CFPB’s 1071 rulemaking, plaintiff trade associations, including the American Bankers Association and the Texas Bankers Association, have filed a motion for summary judgment...more

Sheppard Mullin Richter & Hampton LLP

Federal Court Issues Nationwide Injunction of CFPB’s Small Business Lending Rule

On October 26, the United States District Court for the Southern District of Texas issued a nationwide preliminary injunction barring the CFPB from moving forward with implementing or enforcing the recently finalized Small...more

Orrick, Herrington & Sutcliffe LLP

Republicans seek to overturn CFPB small-biz lending rule; Georgia AG says rule is unnecessary and burdensome

Recently, several House Republicans introduced a joint resolution of disapproval (H.J. Res. 66) under the Congressional Review Act to overturn the CFPB’s small business lending rule. As previously covered by InfoBytes, last...more

Spilman Thomas & Battle, PLLC

Promissory Notes - Banking & Finance Insights: V 3, Issue 5, May 2023

Survey Finds Small-Business Lending Fraud on Rise - “Lending fraud with small and midsize businesses has increased significantly over the last 12 months, and many financial institutions expect it to get worse, according to...more

Pillsbury Winthrop Shaw Pittman LLP

CFPB Finalizes Small Business Lending Data Rule

A far-reaching new federal regulation will for the first time require small business lenders to collect detailed data about applications and originations, and report that data to the Consumer Financial Protection Bureau...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes Section 1071 rule on small business lending data

On March 30, the CFPB released its final rule implementing Section 1071 of the Dodd-Frank Act. Consistent with Section 1071, the final rule will require financial institutions to collect and provide to the Bureau data on...more

Manatt, Phelps & Phillips, LLP

Forecast: Abundance of Potential New Rulemaking From the CFPB

After making headlines with its controversial arbitration rule, the embattled Consumer Financial Protection Bureau (CFPB or Bureau) released its rulemaking agenda for the rest of the year, putting financial services companies...more

Ballard Spahr LLP

CFPB extends comment period for small business lending RFI

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In a notice published in today’s Federal Register, the CFPB announced that it has extended the comment period on its small business lending RFI until September 14, 2017....more

Morrison & Foerster LLP

Financial Services Report - Summer 2017

EDITOR’S NOTE - Summer blockbuster season is officially upon us. Have you seen Wonder Woman yet? What about Guardians of the Galaxy Part 2? It’s déjà vu all over again with Baywatch, Pirates of the Caribbean, Alien,...more

BCLP

The CFPB's Small Business Lending Initiative

BCLP on

On today's episode hosts Jonathan Hightower and Rob Klingler discuss Jonathan's visit to Washington, D.C. with a delegation of bankers earlier this week. They also take a close look at the CFPB's small business lending...more

Ballard Spahr LLP

CFPB hires Assistant Director for Office of Small Business Lending Markets; announces other senior leadership additions

Ballard Spahr LLP on

Earlier this week, the CFPB announced the addition of several new members to its senior leadership team. The announcement included the news that the CFPB has filled the position of Assistant Director for the Office of...more

Ballard Spahr LLP

Director Cordray defends CFPB positions in appearance before Senate Banking Committee; comments on small business lending and...

Ballard Spahr LLP on

Much of Director Cordray’s testimony in his appearance before the Senate Banking Committee yesterday consisted of his predictable defense of various CFPB positions. While the hearing was much less contentious than last...more

Ballard Spahr LLP

U.S. Senators urge expedited CFPB action on small business lending data collection rules

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We recently blogged about an American Banker article written by officials of three community groups that urged President Obama to publicly denounce Director Cordray for failing to issue regulations implementing the small...more

Mintz - Public Finance Viewpoints

Financial Services Legislative and Regulatory Update -- December 9, 2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - While the Senate was on recess, the House was in, but staffs from...more

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