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.
In a study evaluating small businesses’ satisfaction with merchant services providers, J.D. Power found that large banks had a significant surge in merchant services satisfaction.
The Small Business Administration announced that it will allow Paycheck Protection Program borrowers to request a loan review by SBA when the lender determines that the borrower is entitled to only partial forgiveness of the PPP loan.
While expressing support for fair lending laws and regulations, ABA and the state bankers associations yesterday raised concerns about the CFPB’s long-awaited proposed rule to implement Section 1071 of the Dodd-Frank Act, which concerns the collection of credit application data for small businesses, including women-owned and minority-owned small businesses.