The Consumer Financial Protection Bureau (CFPB) rule requiring lenders to gather demographic information about small business borrowers has leapt another legal hurdle. A federal judge rejected a banking industry-backed challenge that argued that the rule’s data collection method was flawed, Reuters reported Monday (Aug. 26). U.S. District Judge Randy Crane in McAllen, Texas, ruled that the challenge
“HKMA will not instruct banks on how to make the loan [assessments], but make sure that banks adopt a fair and tolerant manner to help clients with their financial needs,” Yuen said in a media briefing on Friday. “The task force is a channel for SMEs to reflect their [funding] difficulties, and for the HKMA
Up to $83 million in federal funds have been approved for small business loans to be offered through a consortium of Alaska tribes. Announced on Tuesday, the funds are part of the U.S. Treasury’s broader effort to support tribal economies, with up to $415 million being funneled into developing the economies of 220 tribes, according
A pile of bills Image source: The Motley Fool/Upsplash In the vast ocean of funding opportunities, small businesses might find themselves adrift. However, some specific grants and loans cater to various niches and needs, often overlooked but potentially game-changing for the right business. Here, we explore three categories of such financial aids, providing examples and