Future of Small Business Finance: Disclosures, Data Collection, and Regulatory Enforcement

Creditors seeking to finance small businesses can no longer assume that small business financing is a lightly regulated enterprise. Whether it’s state legislatures enacting truth-in-lending type disclosures or federal regulators signaling that they are going re-focus on fair lending issues in the commercial credit space, commercial creditors must begin paying close attention to regulatory risk.

This panel will explore the current landscape of small business lending for traditional and alternative financing and look at where the industry is headed post-PPP loans. In particular, the panel will discuss recent state legislation that impose truth-in-lending style disclosures for all manner of small business financing. We will also discuss the upcoming rulemaking related to Dodd-Frank 1071 – a HMDA-like data collection and disclosure statute related to certain small business loans and other forms of finance. Finally, we will discuss trends in regulatory enforcement in the small business finance space.

Other Speaker(s)

Connie Edwards (Shareholder at Saltmarsh, Cleaveland & Gund)

Pia Thompson (General Counsel & Secretary at LoanMe)