The CFPB released a long-awaited final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses.
Senate Small Business Committee leaders recently wrote to the U.S. Small Business Administration to express concern about SBA’s two proposals to lift the moratorium on the number of nondepository institutions that may make loans under SBA’s Section 7(a) program and to loosen underwriting standards for the program.
ABA expressed opposition to the Small Business Administration’s proposal to lift the moratorium on the number of non-depository lenders in the 7(a) program in a comment letter submitted this week.
The advantages of committing to a single platform to integrate delivery of multiple banking services for businesses.
The federal banking agencies today released 2021 Community Reinvestment Act data on small business, small farm and community development lending.
SBA and BAFT work to educate small businesses and their lenders on available export financing solutions.
The American Bankers Association today joined other financial trade associations in urging Congress to engage quickly on proposals to lift the moratorium on the number of nondepository institutions that can make loans under the SBA’s 7(a) program.
The Small Business Administration is proposing to lift the moratorium on the number of nondepository institutions—called small business lending companies—that may make loans under SBA’s Section 7(a) program, and to create a new type of SBLC called mission-based SBLCs
Dan Robb, ABA’s 2022-23 chair, shares his infectious enthusiasm for banking and community.
The U.S. Small Business Administration failed to provide lenders with “sufficient, specific guidance to effectively identify, track, address and resolve potentially fraudulent [Paycheck Protection Program] loans,” a new report by the SBA Office of the Inspector General found.