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Ballard Spahr LLP

Appeals Court stays small business reporting rule for many financial institutions

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The Fifth Circuit Court of Appeals has issued a stay that blocks for many financial institutions the implementation of a CFPB rule that requires the institutions to report information contained in loan applications submitted...more

Morris, Manning & Martin, LLP

What SBA Borrowers Need to Know: Lender Expectations for Corporate and Purchase Documentation

Every loan application requires borrowers to provide a substantial amount of information about the business and its owners. When applying for a loan that is guaranteed by the U.S. Small Business Administration (SBA), you can...more

Ballard Spahr LLP

CFPB Announces Availability of HMDA Filing Platform for 2023 Data

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The CFPB recently announced that the platform for the submission of Home Mortgage Disclosure Act (HMDA) data collected in 2023 is now available for the submission of the data. The platform may be accessed here. HMDA data for...more

Ballard Spahr LLP

CFPB Releases 2022 Mortgage Market Activity and Trends Report

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The CFPB recently released a report entitled Data Point: 2022 Mortgage Market Activity and Trends based on 2022 data reported by lenders under the Home Mortgage Disclosure Act (HMDA)....more

Goodwin

Tougher Standards for Certain Home Improvement Loans

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On May 1, 2023, the Consumer Financial Protection Bureau (CFPB) issued a report and a proposed rule to clarify and strengthen its regulation of so-called Property Assessed Clean Energy (PACE) financing. PACE financing is...more

Wiley Rein LLP

PPP Loan Program Re-Opens

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As we recently detailed, on January 6, 2021, the Small Business Administration (SBA) issued two Interim Final Rules (first rule and second rule) setting forth the regulations for the newly authorized round of PPP funding,...more

Snell & Wilmer

New COVID-19 Relief Bill Adds PPP ‘Second Draw’ Loans and Modifications to Original PPP

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On December 27, the Consolidated Appropriations Act of 2021 (the “Act”) was signed into law. This Act makes available $284 billion for second draw loans under the Paycheck Protection Program (“PPP-2”) and also makes important...more

Goodwin

UK ‘Future Fund’ Update

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The British Business Bank has opened the application process for the Future Fund, a new fund that provides financing to UK start-ups and scale-ups in the form of a convertible loan which is invested directly by the UK...more

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