A federal court in Minnesota yesterday granted class action status to a lawsuit by financial institutions against Target over the retailer’s 2013 data breach. Institutions eligible for the class include all U.S. issuers of payment cards compromised in the breach. Class action status will allow plaintiffs to coordinate representation, discovery, witnesses and other court processes.
SBA reinstates stronger underwriting requirements for 7(a) loans
The Small Business Administration has reinstated stronger underwriting requirements for 7(a) loans through the issuance of a Standard Operating Procedure document.