Jimerson Firm
FEBRUARY 18, 2021
Florida’s Construction Lien Law found in Chapter 713, Florida Statutes, may seem like an area of the law that is only relevant to contractors and property owners. However, there are important aspects of the Construction Lien Law that can directly affect the rights and obligations of lenders in numerous ways. Specifically, under Fla.
Troutman Sanders
DECEMBER 4, 2023
On December 1, the House of Representatives approved a resolution to repeal a Consumer Financial Protection Bureau (CFPB) rule that mandated banks to gather data on loan applications from women-owned, minority-owned, and small businesses to help lenders identify business development needs and opportunities.
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Troutman Sanders
AUGUST 28, 2023
Notably, the RBA and DFCRC did not construct this project as a CBDC pilot. Department of Education (DOE), used deceptive loan forgiveness promises, and falsely claimed they were offering relief under the “Biden Loan Forgiveness” plan to lure students and collect millions in illegal upfront fees. For more information, click here.
Troutman Sanders
AUGUST 7, 2023
Small Business Administration (SBA) began implementing additional policies aimed at expanding small business access to capital by modernizing SBA’s signature 7(a) and 504 loan programs. Banks reported that lending standards are currently on the tighter end of the range for all loan categories. For more information, click here.
Troutman Sanders
AUGUST 21, 2023
However, the FTC may also be interested in the use of AI in customer service and interactions. On August 16, the Small Business Administration (SBA) announced the availability of low-interest disaster loans to businesses and residents across the nation, including Mississippi, Illinois, New Jersey, and Oklahoma.
Troutman Sanders
APRIL 24, 2023
Earlier this month, a district court for the Eastern District of Michigan dismissed on its own initiative a Fair Credit Reporting Act (FCRA) claim brought by a consumer alleging inaccurate reporting of her charged-off vehicle loan. Americredit Financial Services, Inc. The court’s opinion in Shelton v. Hence, no inaccuracy.
Jimerson Firm
JANUARY 25, 2021
When underwriting and servicing SBA loans, it is important for lenders and CDCs to ensure appropriate insurance coverages are in place to protect the collateral. The SBA does require some types of insurance coverages to be in place on all loans. Hazard Insurance. 13 CFR § 120.160 ; SOP 50 10 5(K). SOP 50 57 2 ; SOP 50 55.
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