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CFPB Proposal Targets Small Businesses Access to Credit – RVBusiness [Video]

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WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) Wednesday (Sept. 1) proposed a new rule designed to help small businesses gain access to the credit they need and deserve by increasing transparency in the lending marketplace, according to a release. This rule, mandated by Congress in the Dodd-Frank Act, would, if finalized, require lenders to disclose information about their lending to small businesses, allowing community organizations, researchers, lenders, and others to better support small business and community development needs.

Under the proposal, lenders would be required to report the amount and type of small business credit applied for and extended, demographic information about small business credit applicants, and key elements of the price of the credit offered. The CFPB today also launched a web portal for small business entrepreneurs to share their stories about applying for credit, which will help the CFPB understand small business entrepreneurs’ challenges and successes …

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This session will cover breaking developments in employee benefit plans. The panel will discuss continuing developments in recent legislation, including guidance on surprise billing rules and health plan transparency. We will also provide updates on pending legislation, and guidance from the IRS and DOL concerning plan amendments and temporary guidance during the pandemic.SpeakersMichael LaneAmy Dygert StansfieldDisclaimer: The information provided herein is intended for general purposes only and is not intended to be legal advice. The ethical rules of some states require us to identify this as attorney advertising material. The choice of a lawyer is an important decision and should not be based solely upon advertisements. Past results obtained on behalf of current firm clients afford no guarantee of future results. Every case is different and must be judged on its own merits.

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