Federal Bank Regulatory Agencies Release 2024 Small Business, Small Farm, and Community Development Lending Data
The federal bank regulatory agencies, as members of the Federal Financial Institutions Examination Council (FFIEC), today released data on small business, small farm, and community development lending during 2024. The Community Reinvestment Act regulations require the agencies to annually disclose these data. The FFIEC also prepared aggregate reports of small business and small farm lending…
SBA: Shutdown Blocks SBA from Delivering $5 Billion to Small Businesses
10,000 Small Businesses Lost Access to SBA-Guaranteed Capital During Funding Lapse Today, the U.S. Small Business Administration (SBA) announced the cumulative impact of the federal shutdown on its small business lending programs. For fiscal year 2025 (FY25), the agency guaranteed a record 84,400 7(a) and 504 loans, delivering $45 billion to Main Street thanks to a historic demand for…
CFPB: Small Business Lending Data Collection Proposed Rule Issued to Revise Section 1071 Requirements
The Consumer Financial Protection Bureau (CFPB or Bureau) proposes revisions to certain provisions of Regulation B, subpart B, implementing changes to the Equal Credit Opportunity Act made by section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Bureau is reconsidering coverage of certain credit transactions and financial institutions; the small business…
ICBA: New ICBA White Paper Calls on Policymakers to Close Industrial Loan Company Loophole
The Independent Community Bankers of America (ICBA) today released a comprehensive white paper detailing why policymakers should close a legal loophole that allows industrial loan companies and their parent companies to skirt regulatory oversight, endangering consumers and the economy. In “Closing the Industrial Loan Company Loophole: An Urgent Priority to Prevent Systemic Risk and Consumer Harm,” ICBA…
ICBA: Statement on CFPB’s New Proposal to Implement Section 1071 Small-Business Reporting Requirements
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s updated Consumer Financial Protection Bureau proposed rule to implement Section 1071 small-business reporting requirements. “ICBA and the nation’s community bankers commend the administration for making needed improvements to the CFPB’s 1071 rule to help mitigate the negative impact of…
ABA: Statement on CFPB’s Section 1071 Reproposal
“We applaud the CFPB for addressing serious flaws in its previous Section 1071 rulemaking, which exceeded the Bureau’s legal authority and constrained banks’ ability to make small business loans that are so essential to economic growth. This is one of many recent regulatory reforms advanced by the CFPB that will unleash America’s banks, allowing them…
ABA: Ag Lenders Signal Cautious Outlook for Farm Profitability in 2025
ABA, Farmer Mac survey results released at ABA Agricultural Bankers Conference in St. Louis Agricultural lenders report signs of tighter conditions in farm profitability and credit quality in 2025, according to a joint survey conducted by the American Bankers Association and the Federal Agricultural Mortgage Corporation, or Farmer Mac (NYSE: AGM and AGM.A). The survey—based on responses…
ICBA: Statement on Ending Goverment Shutdown Issued
The Independent Community Bankers of America (ICBA) issued the following statement on the federal government shutdown. “While the nation’s community banks continue working every day to support economic growth in the local communities they serve, the ongoing government shutdown threatens to harm economic growth and Main Street economies. ICBA and the nation’s community bankers encourage…
SBA: State-Level Analysis Released of Shutdown Impact on Small Business Lending
With Core Lending Programs Frozen, Agency is Unable to Deliver $170 Million to 320 Main Street Businesses Each Day Today, the U.S. Small Business Administration released a state-level analysis of how small businesses have been impacted by the federal shutdown, which has frozen the agency’s core 7(a) and 504 small business lending programs. For fiscal year 2025…
ABA: New Survey Finds Americans Highly Value Their Credits Cards, Oppose Policy Changes that Threaten Card Reward Programs
A new survey conducted by Morning Consult on behalf of the American Bankers Association found that a strong majority of U.S. consumers are happy with their credit cards and do not want the government to interfere with their cards’ rewards programs. The survey, unveiled on the second day of ABA’s 2025 Annual Convention in Charlotte, N.C., also…