As households and businesses face a possible recession, decades-high inflation levels and other economic challenges, a broad coalition of trade groups—including ABA—representing a wide range of industries urged lawmakers to reject policy proposals that would raise taxes on small, individually and family-owned businesses.
small companies are ready for significant changes in response to inflation and middle-market companies are addressing workforce and cybersecurity issues.
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.
A majority of the nation’s small business owners—78%—say they are concerned about the threat of a Russian cyberattack in light of recent news coverage, according to new survey data released by Provident Bank.
As the CFPB looks to implement Section 1071 of the Dodd-Frank Act—which calls for the collection of small business lending data—Rep. Nydia Velazquez (D-N.Y.) this week introduced H.R. 7351, an American Bankers Association-advocated bill that would amend the Consumer Protection Act to give the CFPB supervisory authority over nonbanks making small business loans.
The Small Business Administration’s strategic goals for FY 2022-2026 include providing an equitable and customer-centric delivery of programs to small businesses, building resilient businesses and a sustainable economy, and implementing strong stewardship of resources, according to a strategic plan released this week.
Small Business Administration Administrator Isabella Casillas Guzman told bankers today at the American Bankers Association’s Washington Summit that to help small businesses, the country needs to return to work.
The American Bankers Association and a coalition of trade groups today urged congressional leaders to increase the authorization level for the Small Business Administration’s 504 loan program. Demand is expected to reach the program’s authorization cap of $7.5 billion in early summer, likely June.
Ultimately, bankers must meet businesses where they want to bank—whether it’s in-person, desktop or mobile—and deliver the same experience across all channels.
Three GOP lawmakers today raised concerns about the CFPB’s pending rulemaking to implement Section 1071 of the Dodd-Frank Act.