Small business lending

It's been rare for a fintech to win regulatory approval to become a bank, with none receiving approval under President Joe Biden and only a few successfully obtaining charters before that.

The New York-based fintech's high-tech initiative is the centerpiece of an initiative aimed at capitalizing on an expected surge in small business lending activity.

A federal magistrate judge is recommending that the Consumer Financial Protection Bureau's small business lending data collection rule be upheld, rejecting a challenge by merchant cash advance lenders.

A federal appeals court in Texas has delayed the implementation of the Consumer Financial Protection Bureau's small-business data reporting rule slated to go into effect in July. How the Trump administration proceeds from here could be instructive on its approach to other CFPB rules.

A bill offered by Rep. Roger Williams, R-Texas, would repeal Dodd-Frank Section 1071 and eliminate any data-collection requirements for the Consumer Financial Protection Bureau.

The case against Yellowstone Capital, which state officials alleged deceived small-business borrowers, has brought attention to the industry.

On her way out the door, SBA Administrator Isabel Casillas Guzman issues licenses to four more nondepository lenders.

The Columbus, Ohio-based regional launched Lift Local Business in October 2020 with a $25 million ceiling. Four years and $133 million later, the program is still going strong.

The average size of a Small Business Administration 7(a) loan has fallen to just over $400,000, a level last reached in 2017, according to agency statistics.

President Joe Biden called on Congress to return to Washington to make sure Small Business Administration loans don't run out after Hurricanes Milton and Helene devastated large swaths of the Southeast.