Report finds significant volume of COVID-assistance loan fraud
At least 17% of all COVID-19 economic injury disaster and payment protection program loans were disbursed to potentially fraudulent actors, ...
Tag: Small business lending
ABA joins Texas lawsuit to block CFPB’s Section 1071 rule
ABA President and CEO Rob Nichols announced today that ABA has joined a lawsuit filed by the Texas Bankers Association ...
Committee heads ask SBA to pause small business lending changes
The leaders of the House and Senate small business committees asked the Small Business Administration to “pause” changes to its ...
Members of Congress express ‘serious concerns’ with SBA’s 7(a) rules
In a House Small Business Committee hearing, members of both parties expressed concerns with the Small Business Administration’s decision to ...
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 ...
Podcast: A deep dive into the Section 1071 final rule
The CFPB's final rule implementing Section 1071 of the Dodd-Frank Act represents major change to how banks process and handle ...
House committee ‘gravely concerned’ with expanded nondepository 7(a) program participation
House Small Business Committee Chairman Roger Williams (R-Texas)—joined by subcommittee chairmen—said they were “gravely concerned” with the Small Business Administration’s ...
ABA disappointed in decision to lift 7(a) lender moratorium
In a statement, ABA President and CEO Rob Nichols said the association was disappointed with the Small Business Administration’s decision ...
SBA lifts 7(a) lender moratorium, loosens underwriting requirements
The Small Business Administration issued a final rule to lift the moratorium on the number of nondepository lenders in the ...
CFPB issues long-awaited Section 1071 final rule
The CFPB released a long-awaited final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting ...
