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Williams Mullen

Taking Steps to Apply for Small, Women-Owned, or Minority-Owned (SWaM) Certification in Virginia? Consider these Factors ...

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Obtaining SWaM certification in Virginia enables businesses to bid on local and state contracts that are set aside for small, women-owned, and minority-owned businesses. The Commonwealth of Virginia has committed to sourcing...more

Potomac Law Group, PLLC

Explaining the Basics - EDWOSB and WOSB Certifications

If you are a woman-owned business, you may be eligible for federal contracting opportunities under the WOSB (woman-owned small business) and/or EDWOSB (economically disadvantaged woman-owned small business) programs....more

Davis Wright Tremaine LLP

OMWBE Announces New Public Works Small Business Enterprise Certification

Recent changes in legislation regarding Washington's Small Works Roster laws have resulted in new "PWSBE" certification - Recent changes in legislation regarding Washington's Small Works Roster laws have resulted in a new...more

Spilman Thomas & Battle, PLLC

Q&A with the Carolina Small Business Development Fund

We are fortunate to have connected with Kevin Dick, the President & CEO, and Emily Blevins, Marketing & Communications Director, of the Carolina Small Business Development Fund, at the recent Annual Meeting of the United...more

Ballard Spahr LLP

Texas banking trade group and Texas bank file lawsuit challenging validity of CFPB Section 1071 final rule on small business data...

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While it has only been a month since the CFPB issued its final rule to implement Section 1071 of the Dodd-Frank Act, the CFPB is already facing a lawsuit challenging the rule’s validity. The lawsuit was filed last week in a...more

Moore & Van Allen PLLC

LEGAL ALERT Re: Consumer Financial Protection Bureau’s Small Business Lending Data Collection under the Equal Credit Opportunity...

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The Consumer Financial Protection Bureau (the “CFPB”) has published a final rule implementing the requirements of Section 1071 of the Dodd-Frank Act (the “Final Rule”), which mandated data collection on certain credit...more

Manatt, Phelps & Phillips, LLP

CFPB Issues Final Rule on Small Business Data Collection

On March 30, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require lenders to...more

Ballard Spahr LLP

CFPB final Section 1071 rule on small business data collection includes important changes from proposal

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On March 30, the Consumer Financial Protection Bureau issued its final rule to implement Section 1071 of the Dodd-Frank Act. Section 1071 amended the Equal Credit Opportunity Act to require financial institutions to collect...more

Ballard Spahr LLP

CFPB agrees to March 31, 2023 deadline for Section 1071 final rule

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The CFPB has agreed to a March 31, 2023 deadline for issuing a final rule implementing the small business data requirements of Section 1071 of the Dodd-Frank Act. Section 1071 amended the ECOA, subject to rules adopted by the...more

WilmerHale

In Case You Missed It: Launch Links - March 2022 #2

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Some interesting links we found across the web this week: The Challenges in Getting Funding for Women and Minority-Owned Businesses, and How to Solve Them - According to the American Express State of Women-Owned...more

Ballard Spahr LLP

CFPB Files Another Status Report in Section 1071 Rulemaking Lawsuit; Republican Lawmakers Send Letter to Director Chopra on...

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On February 22, 2022, the CFPB filed its eighth status report with the California federal district court hearing the lawsuit brought by the California Reinvestment Coalition, National Association for Latino Community Asset...more

Woods Rogers

The Bipartisan Infrastructure Deal and its Impact on SWaM and DBE Programs

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On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Deal. The $1.75 trillion infrastructure bill, which is the largest investment in...more

Eversheds Sutherland (US) LLP

CFPB Gears Up to Advance Financial Inclusion Agenda with Proposed Rule Requiring Annual Reports on Small Business Credit...

On September 1, 2021, the CFPB issued a proposed rule that would add a new subpart to Regulation B, which implements the federal Equal Credit Opportunity Act (ECOA). The rule would implement Section 1071 of the Dodd-Frank Act...more

Morrison & Foerster LLP

CFPB Issues Small Business Data Collection Proposed Rule

On September 1, 2021, the Consumer Financial Protection Bureau (CFPB or “Bureau”) issued its long-awaited small business lending data collection proposed rule (“Proposed Rule” or “Proposal”). The Proposed Rule would implement...more

Manatt, Phelps & Phillips, LLP

CFPB Rulemaking Will Require Reporting On Lending To Women- And Minority-Owned And Small Businesses

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

Mintz - Securities & Capital Markets...

The OASB Annual Report to Congress for Fiscal Year 2020

In January 2019, the Office of the Advocate for Small Business Capital Formation (the “Office”) was formed “to advance the interests of small businesses and their investors at the SEC and in the capital markets.” These small...more

Foster Swift Collins & Smith

Women Owned Small Business Certification Program - Part Two: Certification and Benefits

This is the second part in a series discussing the Women Owned Small Business (“WOSB”) certification program with the U.S. Small Business Administration (“SBA”). Part One  summarizes the eligibility requirements....more

Morrison & Foerster LLP

Financial Services Report - Spring 2021

Can you say 0 to 60? Not cars, but pretty much everything to do with financial services. A new year, a new administration, and new challenges for providers. Prior CFPB Director Kraninger is long gone. Acting Director Uejio...more

McCarter & English, LLP

PPP 2.0 Changes To Prioritize Underserved Small Businesses

President Biden has announced changes to the Paycheck Protection Program 2.0 (PPP) designed to direct more funding to women-owned and minority-owned businesses as well as low- and moderate-income, rural, and other underserved...more

Morrison & Foerster LLP - Government...

8(A): The Small Business Administration’s Program For Socially & Economically Disadvantaged Businesses (Guide 3 Of 4)

SBA’S 8(A) BUSINESS DEVELOPMENT PROGRAM- WHAT IS THE 8(A) PROGRAM AND WHAT IS IT INTENDED TO DO? The 8(a) program, officially designated the 8(a) Business Development program, is designed to assist small...more

Ballard Spahr LLP

CFPB issues report of Section 1071 small business review panel

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The CFPB took another significant step towards issuing regulations to implement Section 1071 of the Dodd-Frank Act by releasing the final report of the small business review panel (Panel) on the proposals the Bureau is...more

Williams Mullen

Williams Mullen's COVID-19 Comeback Plan: Part II – Doing Business With the Commonwealth of Virginia

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In the second installment of the “Doing Business With the Commonwealth of Virginia” video series, the Hon. David Albo, chair of the Government Relations Group; Elizabeth Rafferty,* Director of Government Relations; and Bob...more

PilieroMazza PLLC

WOSB Certification Required Beginning October 15 – Are You Ready?

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As a reminder, beginning on October 15, 2020, all women-owned small businesses (WOSBs) and economically disadvantaged women-owned small businesses (EDWOSBs) pursuing WOSB/EDWOSB set-asides, as well as solicitations with pools...more

Sheppard Mullin Richter & Hampton LLP

Women-Owned Small Business Self-Certification Ends October 15, 2020 When SBA Begins Requiring Formal Government-Issued Or...

Beginning October 15, 2020, the U.S. Small Business Administration (“SBA”), implementing the 2015 National Defense Authorization Act (“NDAA”), will begin requiring women-owned small businesses (“WOSBs”) and economically...more

Mayer Brown Free Writings + Perspectives

Recommendations of the 39th Annual Small Business Forum

The Securities and Exchange Commission hosts an annual small business forum, which brings together (this year, virtually) a broad range of participants to consider regulatory and policy issues affecting small and medium-sized...more

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