The Consumer Financial Protection Bureau is finally moving forward with rulemaking under Section 1071 of the Dodd-Frank Act, which will require “financial institutions” to collect, maintain and report to the CFPB data on...more
6/28/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Data Collection ,
Disparate Impact ,
Dodd-Frank ,
ECOA ,
Fair Lending ,
Financial Institutions ,
Financial Services Industry ,
Minority-Owned Businesses ,
Regulatory Requirements ,
Reporting Requirements ,
SBREFA ,
Section 1071 ,
Small Business ,
Women-Owned Businesses
State and federal financial regulators increasingly are focused on protecting small businesses, as illustrated by recent enforcement efforts and new state laws regulating both traditional and innovative small-business finance...more
3/16/2021
/ Consumer Financial Protection Bureau (CFPB) ,
Continuing Legal Education ,
Disclosure Requirements ,
Enforcement Actions ,
Fair Lending ,
Federal Trade Commission (FTC) ,
Financial Products ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Regulatory Authority ,
Regulatory Requirements ,
Small Business ,
Small Business Loans ,
State Regulators ,
UDAAP ,
Webinars
What happened -
On August 3, 2020, the Federal Trade Commission (FTC) filed a complaint against a merchant cash advance (MCA) provider and two of its officers, alleging misconduct ranging from grossly misrepresenting the...more
On May 4, 2020, three Paycheck Protection Program (PPP) borrowers that received $750,000 in first-round funding sued the Small Business Administration (SBA) and the Treasury Department in the U.S. District Court, Central...more
On April 30, the Federal Reserve Board, after receiving more than 2,200 letters in response to a request for feedback on its Main Street Lending Program, announced an expansion of the scope of and eligibility for the program....more