www.natlawreview.com Open in urlscan Pro
2620:12a:8001::1  Public Scan

Form analysis
2 forms found in the DOM

<form class="gsc-search-box gsc-search-box-tools" accept-charset="utf-8">
  <table cellspacing="0" cellpadding="0" role="presentation" class="gsc-search-box">
    <tbody>
      <tr>
        <td class="gsc-input">
          <div class="gsc-input-box" id="gsc-iw-id1">
            <table cellspacing="0" cellpadding="0" role="presentation" id="gs_id50" class="gstl_50 gsc-input" style="width: 100%; padding: 0px;">
              <tbody>
                <tr>
                  <td id="gs_tti50" class="gsib_a"><input autocomplete="off" type="text" size="10" class="gsc-input" name="search" title="search" aria-label="search" id="gsc-i-id1" dir="ltr" spellcheck="false"
                      style="width: 100%; padding: 0px; border: none; margin: 0px; height: auto; outline: none;"></td>
                  <td class="gsib_b">
                    <div class="gsst_b" id="gs_st50" dir="ltr"><a class="gsst_a" href="javascript:void(0)" title="Clear search box" role="button" style="display: none;"><span class="gscb_a" id="gs_cb50" aria-hidden="true">×</span></a></div>
                  </td>
                </tr>
              </tbody>
            </table>
          </div>
        </td>
        <td class="gsc-search-button"><button class="gsc-search-button gsc-search-button-v2"><svg width="13" height="13" viewBox="0 0 13 13">
              <title>search</title>
              <path
                d="m4.8495 7.8226c0.82666 0 1.5262-0.29146 2.0985-0.87438 0.57232-0.58292 0.86378-1.2877 0.87438-2.1144 0.010599-0.82666-0.28086-1.5262-0.87438-2.0985-0.59352-0.57232-1.293-0.86378-2.0985-0.87438-0.8055-0.010599-1.5103 0.28086-2.1144 0.87438-0.60414 0.59352-0.8956 1.293-0.87438 2.0985 0.021197 0.8055 0.31266 1.5103 0.87438 2.1144 0.56172 0.60414 1.2665 0.8956 2.1144 0.87438zm4.4695 0.2115 3.681 3.6819-1.259 1.284-3.6817-3.7 0.0019784-0.69479-0.090043-0.098846c-0.87973 0.76087-1.92 1.1413-3.1207 1.1413-1.3553 0-2.5025-0.46363-3.4417-1.3909s-1.4088-2.0686-1.4088-3.4239c0-1.3553 0.4696-2.4966 1.4088-3.4239 0.9392-0.92727 2.0864-1.3969 3.4417-1.4088 1.3553-0.011889 2.4906 0.45771 3.406 1.4088 0.9154 0.95107 1.379 2.0924 1.3909 3.4239 0 1.2126-0.38043 2.2588-1.1413 3.1385l0.098834 0.090049z">
              </path>
            </svg></button></td>
        <td class="gsc-clear-button">
          <div class="gsc-clear-button" title="clear results">&nbsp;</div>
        </td>
      </tr>
    </tbody>
  </table>
</form>

#

<form action="#">
  <p>&nbsp;</p>
  <p class="text-align-center"><a class="thickbox" href="https://list.robly.com/subscribe?a=60afa28114e7b94e0d5227b39232c907" target="_self"><font color="#FFFFFF">Sign Up for e-NewsBulletins</font></a></p>
  <p>&nbsp;</p>
</form>

Text Content

Skip to main content
December 30, 2023
Volume XIII, Number 364
Legal Analysis. Expertly Written. Quickly Found.
Login
 * Publish / Advertise with Us »
   * Publish
   * Publishing Firms
   * E Newsbulletins
   * Contact Us
   * Terms of Use
   * Privacy Policy
   * Search
 * Trending Legal News »
   * Most Recent
   * Type of Law »
     * Antitrust Law
     * Bankruptcy & Restructuring
     * Biotech, Food & Drug
     * Business of Law
     * Construction & Real Estate
     * Cybersecurity Media & FCC
     * Election & Legislative
     * Environmental & Energy
     * Family, Estates & Trusts
     * Financial, Securities & Banking
     * Global
     * Health Care Law
     * Immigration
     * Insurance
     * Intellectual Property Law
     * Labor & Employment
     * Litigation
     * Public Services, Infrastructure, Transportation
     * Tax
     * White Collar Crime & Consumer Rights
   * E Newsbulletins
   * Legal Educational Events
   * NLR Blog
   * Search
 * About Us »
   * NLR Team
   * Publishing Firms
   * E Newsbulletins
   * NLR Thought Leadership Awards »
     * 2018
     * 2019
     * 2020
     * 2021
     * 2022
   * NLR Blog
   * Contact Us
   * Terms of Use
   * Privacy Policy
   * Search
 * Contact Us »
   * Contact Us
   * E Newsbulletins
   * Publish
   * Search
 * Quick Links »
   * Type of Law »
     * Antitrust Law
     * Bankruptcy & Restructuring
     * Biotech, Food & Drug
     * Business of Law
     * Construction & Real Estate
     * Cybersecurity Media & FCC
     * Election & Legislative
     * Environmental & Energy
     * Family, Estates & Trusts
     * Financial, Securities & Banking
     * Global
     * Health Care Law
     * Immigration
     * Insurance
     * Intellectual Property Law
     * Labor & Employment
     * Litigation
     * Public Services, Infrastructure, Transportation
     * Tax
     * White Collar Crime & Consumer Rights
   * E Newsbulletins
   * Legal Educational Events
   * NLR Blog
   * Contact Us
   * Search
 * ENEWSBULLETINS

×

search
 


TRENDING NEWS

Previous
The Corporate Transparency Act December 2023 Update
U.S. Department of State Implements Domestic Visa Renewal Pilot Program
Weekly IRS Roundup December 18 – December 22, 2023
U.S. Department of State Announces Visa Renewal Pilot Program
FTC Issues Notice of Proposed Rulemaking to Update COPPA Rule
This Week in 340B: December 6 – 20, 2023
Effective Date of Chicago Paid Leave and Paid Sick and Safe Leave Ordinance
Delayed to July 1, 2024
Foley Automotive Update December 2023
Weekly Bankruptcy Alert - December 19, 2023 (For the week ending December 17,
2023)
FinCEN Updates Frequently Asked Questions on Beneficial Ownership Reporting Rule
Ahead of Jan. 1, 2024, Effective Date
The Corporate Transparency Act December 2023 Update
U.S. Department of State Implements Domestic Visa Renewal Pilot Program
Weekly IRS Roundup December 18 – December 22, 2023
U.S. Department of State Announces Visa Renewal Pilot Program
FTC Issues Notice of Proposed Rulemaking to Update COPPA Rule
This Week in 340B: December 6 – 20, 2023
Effective Date of Chicago Paid Leave and Paid Sick and Safe Leave Ordinance
Delayed to July 1, 2024
Foley Automotive Update December 2023
Weekly Bankruptcy Alert - December 19, 2023 (For the week ending December 17,
2023)
FinCEN Updates Frequently Asked Questions on Beneficial Ownership Reporting Rule
Ahead of Jan. 1, 2024, Effective Date
The Corporate Transparency Act December 2023 Update
Next

×-
×-
Need a Whistleblower Lawyer in Las Vegas? Here is What to Look For

1



New Articles



 * FB
 * twt
 * link
 * rss

A.J. S. Dhaliwal
EMAIL

202-747-2323
Bio and Articles
Moorari Shah
EMAIL

213-617-4171
Bio and Articles

President Biden Vetoes Congressional Review Act Disapproval of CFPB’s Small
Business Lending Data Collection Rule
by: A.J. S. Dhaliwal , Moorari Shah of Sheppard, Mullin, Richter & Hampton LLP
 -  Consumer Finance and Fintech Blog
Thursday, December 28, 2023

RELATED PRACTICES & JURISDICTIONS

 * Corporate & Business Organizations
 * Financial Institutions & Banking
 * Consumer Protection
 * Administrative & Regulatory

 * All Federal


Print Mail Download i
                   

On December 19, President Biden vetoed the joint resolution (S. J. Res. 32) the
US Senate and House of Representatives passed under the Congressional Review Act
that would have repealed the CFPB’s small business data collection rule (Rule)
known as “Small Business Lending Under the Equal Credit Opportunity Act
(Regulation B)” (we blogged about the rule and congressional
challenge here and here).

The Rule, under Section 1071 of the Dodd-Frank Act, requires small business
owners to provide demographic data (i.e., race, gender, ethnicity, etc.), as
well as geographic information, lending decisions, and credit pricing to
lenders. According to President Biden’s statement accompanying the veto, the
Rule brings “much needed transparency to small business lending” while the Joint
Resolution and repealing this rule would “would hinder the Government’s ability
to conduct oversight of abusive and predatory lenders.” The bill is now to be
returned to the Senate to be voted on again unless the US Senate and House of
Representative override President Biden’s veto, the rule will survive the
Congressional Review Act challenge.

Putting It Into Practice: While the Rule survived this latest challenge, other
challenges to the Rule remain as US district courts in Texas Bankers Association
v. CFPB and in The Monticello Banking Company v. CFPB issued injunctions against
enforcement of the Final Rule to cover all small business lenders nationwide (we
blogged about these cases here and here). Both injunctions will dissolve if the
U.S. Supreme Court reverses the Fifth Circuit in Community Financial Services
Association v CFPB, which found the CFPB’s funding structure unconstitutional.
The Supreme Court is expected to decide the CFSA case by the summer of 2024.

Copyright © 2023, Sheppard Mullin Richter & Hampton LLP.
                   



CURRENT LEGAL ANALYSIS

Need a Whistleblower Lawyer in Las Vegas? Here is What to Look For
by: Dr. Nick Oberheiden
USCIS Issues New Guidance on F and M Student Visa Classifications
by: Ashley M. Knapp
New Russia Sanctions Intensify Pressure on Banks Worldwide
by: Jordan Mallory , J. Scott Maberry
U.S. Department of State Implements Domestic Visa Renewal Pilot Program
by: Luisa E. Koidl
FCC Adopts Updated Data Breach Notification Rules
by: Hunton Andrews Kurth’s Privacy and Cybersecurity
SFC Circular on Intermediaries Engaging in Tokenized Securities Activities (Part
1)
by: Jay Lee , Beatrice Wun
Nevada Reverses Defense Verdict, Makes Medical Bills Easier to Prove
by: Michael Lowry
Draft CoRAP Update Lists 28 Chemicals for Evaluation by EU Member States for
2024-2026
by: Lynn L. Bergeson , Carla N. Hutton
Merry and Bright: Health Canada Recalls Artificial Christmas Trees for Potential
Burn or Fire Hazard
by: Malerie Ma Roddy , Jonathan Judge
OSTP Publishes Report on Vision, Needs, and Proposed Actions for Data for the
Bioeconomy Initiative
by: Lynn L. Bergeson , Carla N. Hutton
Cook County, Illinois, Replaces Earned Sick Leave Ordinance With Paid Leave
Ordinance
by: Alison B. Crane , Anderson C. Franklin
EPA Registers Novel Pesticide Technology for Potato Crops
by: Carla N. Hutton , Meibao Zhuang, Ph.D.
US Treasury Department Releases Proposed Section 45V Hydrogen Tax Credit
Regulations
by: Martha G. Pugh , David L. Wochner
New Jersey Bills to Watch in 2024
by: Mark Diana
Litigation Within the Family is Sometimes Unavoidable
by: David C. Roberts
12 Days of Handbook Updates: Form I-9 Changes
by: Emily C. Lodge
ISDA Publishes Tokenized Collateral Model Provisions for ISDA 2016 Credit
Support Annexes for Variation Margin (VM)
by: Michael Ena , Ivan Loncar
NLRB Seeks to Force Reopening of Shuttered Starbucks Cafés
by: David J. Pryzbylski
Washington D.C. Introduced Rate Exportation Opt-Out and “Anti-Evasion” Bill
by: A.J. S. Dhaliwal , Moorari Shah
2023 Round-Up on State Consumer Data Privacy Laws
by: Ilse P. Johnson , Michael B. Katz
Florida Introduces “True Lender” Legislation
by: A.J. S. Dhaliwal , Moorari Shah
IRS Releases Proposed Regulations for Section 45V Hydrogen Production Credit
by: Adam Schurle , Tori Roessler
Texas Workforce Commission Issues Required Workplace Violence Reporting Notice
by: Collin K. Brodrick
OIG Issues Audit Memorandum to FDIC’s Regional Service Provider Examination
Program, Impacts Fintechs
by: A.J. S. Dhaliwal , Moorari Shah
Federal Judge Upholds California’s Small-business Lending Disclosures
by: A.J. S. Dhaliwal , Moorari Shah
President Biden Vetoes Congressional Review Act Disapproval of CFPB’s Small
Business Lending Data Collection Rule
by: A.J. S. Dhaliwal , Moorari Shah
EPA Issues Final SNURs for Four Multi-Walled Carbon Nanotubes
by: Lynn L. Bergeson , Carla N. Hutton
Biden-Harris Administration Debuts Inaugural Ocean Justice System
by: Melinda M. Meade Meyers , Sophia E. Amberson
Private Investment Funds: Assess Your Structures and Prepare for Corporate
Transparency Act Compliance
by: David J. Lavan , Caroline M. Rice
New York Formally Adopts Corporate Tax Reform Regulations
by: Stephen P. Kranz , Richard C. Call
Episode 54 | The State Department’s Domestic Visa Renewal Pilot is Here
[PODCAST]
by: BAL U.S. Practice Group
Time Is Money: A Quick Wage-Hour Tip on ... Holiday Pay
by: Benjamin Runge
12 Days of Handbook Updates: Harassment Policies
by: Emily C. Lodge
CTA – The Large Operating Company Exemption – Not Everybody Can Be A “Big BOI”
by: Andrew Bettwy , Ryan P. Blaney
A Step Too Far? Governor Hochul Vetoes New York Non-Compete Ban
by: Clifford R. Atlas , Daniel J. Doron
USDA Requesting Comments on New AFIDA Regulations that Could Impact Renewable
Energy Developers
by: Anne E. Callenbach , Alan Claus Anderson
Out with the Old? Not So Fast! A Quick Review of 2023 Highlights
by: Sarahanne Y. Vaughan , Anne R. Yuengert
Last Minute Guidance Can Cause Holiday Stress
by: Deborah Hembree , Susan E. Stoffer
What’s Going on in Mexico This Week? Status of Labor and Employment Bills Ahead
of February 2024 Ordinary Session
by: Pietro Straulino-Rodriguez , Natalia Merino Moreno
United Kingdom | New Fees for Document Legalization Announced
by: BAL Global Practice Group
United States | Premium Processing Fees to Increase Feb. 26
by: BAL U.S. Practice Group
Denmark | Updated Income Statistics Released
by: BAL Global Practice Group
Amendments to California Anti-Retaliation Laws Facilitate Employee Lawsuits
by: Eric W. Witt , Carmen J. Cole
Parsing MHPAEA Claims Under the Proposed Rule: E.W. v. Health Net Life Insurance
Company
by: Alden J. Bianchi
Newly Issued Guidelines on Standard Contracts for Cross-boundary Data Flow
Within the Greater Bay Area (i.e., Hong Kong, Macau and Nine Key Mainland
Cities)
by: Nicholas Hiu Fung Chan
'ESG, China & Investability' Discussed on Latest (mis)Conduct, Money &
Reputation Podcast [PODCAST]
by: Neil Robson
Two-Dimensional Barcodes: How 2D Could Change Retail
by: Kristin McGaver Sikora
FTC Approves Use of CIDs in Nonpublic Investigations of AI Products
by: Justin T. Bradley
A Holiday Surprise: New York Governor Vetoes the Proposed Non-Compete Ban
by: Jill Turner Lever , Patricia M. Prezioso
Key Takeaways From COP28
by: Catherine E. O'Brien , Christopher A. Cole



MORE FROM SHEPPARD, MULLIN, RICHTER & HAMPTON LLP

New Russia Sanctions Intensify Pressure on Banks Worldwide
by: Jordan Mallory , J. Scott Maberry
Washington D.C. Introduced Rate Exportation Opt-Out and “Anti-Evasion” Bill
by: A.J. S. Dhaliwal , Moorari Shah
Florida Introduces “True Lender” Legislation
by: A.J. S. Dhaliwal , Moorari Shah
OIG Issues Audit Memorandum to FDIC’s Regional Service Provider Examination
Program, Impacts Fintechs
by: A.J. S. Dhaliwal , Moorari Shah
Federal Judge Upholds California’s Small-business Lending Disclosures
by: A.J. S. Dhaliwal , Moorari Shah


UPCOMING LEGAL EDUCATION EVENTS

Feb
6
2024
Health Care Joint Ventures: What's the Big Deal?
Jan
25
2024
Katten Ad Chat
Jan
23
2024
Plan early and often: H-1B alternatives in a tight labor market
Jan
23
2024
What to Expect in Chemicals Policy and Regulation and on Capitol Hill in 2024

 * Print

×-
 

We collaborate with the world's leading lawyers to deliver news tailored for
you. Sign Up to receive our free e-Newsbulletins

 

Sign Up for e-NewsBulletins

 

FB twt mast link home 
Cookies & Privacy


FOOTER MENU 1

 * Antitrust Law
 * Bankruptcy & Restructuring
 * Biotech, Food, & Drug
 * Business of Law
 * Construction & Real Estate
 * Coronavirus News
 * Cybersecurity Media & FCC


FOOTER MENU 2

 * Election & Legislative
 * Environmental & Energy
 * Family, Estates & Trusts
 * Financial, Securities & Banking
 * Global
 * Health Care Law
 * Immigration


FOOTER MENU 3

 * Insurance
 * Intellectual Property Law
 * Labor & Employment
 * Litigation
 * Public Services, Infrastructure, Transportation
 * Tax
 * White Collar Crime & Consumer Rights




LEGAL DISCLAIMER

You are responsible for reading, understanding and agreeing to the National Law
Review's (NLR’s) and the National Law Forum LLC's  Terms of Use and Privacy
Policy before using the National Law Review website. The National Law Review is
a free to use, no-log in database of legal and business articles. The content
and links on www.NatLawReview.com are intended for general information purposes
only. Any legal analysis, legislative updates or other content and links should
not be construed as legal or professional advice or a substitute for such
advice. No attorney-client or confidential relationship is formed by the
transmission of information between you and the National Law Review website or
any of the law firms, attorneys or other professionals or organizations who
include content on the National Law Review website. If you require legal or
professional advice, kindly contact an attorney or other suitable professional
advisor.  

Some states have laws and ethical rules regarding solicitation and advertisement
practices by attorneys and/or other professionals. The National Law Review is
not a law firm nor is www.NatLawReview.com  intended to be  a referral service
for attorneys and/or other professionals. The NLR does not wish, nor does it
intend, to solicit the business of anyone or to refer anyone to an attorney or
other professional.  NLR does not answer legal questions nor will we refer you
to an attorney or other professional if you request such information from us. 

Under certain state laws the following statements may be required on this
website and we have included them in order to be in full compliance with these
rules. The choice of a lawyer or other professional is an important decision and
should not be based solely upon advertisements. Attorney Advertising Notice:
Prior results do not guarantee a similar outcome. Statement in compliance with
Texas Rules of Professional Conduct. Unless otherwise noted, attorneys are not
certified by the Texas Board of Legal Specialization, nor can NLR attest to the
accuracy of any notation of Legal Specialization or other Professional
Credentials.

The National Law Review - National Law Forum LLC 3 Grant Square #141 Hinsdale,
IL 60521  Telephone  (708) 357-3317 or toll free (877) 357-3317.  If you would
ike to contact us via email please click here.


FOOTER MENU LEGAL LINKS

 * Sign Up For NLR Bulletins
 * Terms of Use
 * Privacy Policy

Copyright ©2023 National Law Forum, LLC

gtag('event','article_read', { 'article_source','Consumer Finance and Fintech
Blog', 'publisheddate','2023-12-28', 'type_of_law1','Corporate & Business
Organizations', 'type_of_law2','Financial Institutions & Banking',
'type_of_law3','Consumer Protection', 'author5','', 'author4','', 'author3','',
'author2','Moorari Shah', 'author1','A.J. S. Dhaliwal', 'title','President Biden
Vetoes Congressional Review Act Disapproval of CFPB’s Small Business Lending
Data Collection Rule', 'organization','Sheppard, Mullin, Richter & Hampton LLP'
});


By using the website, you agree to our use of cookies to analyze website traffic
and improve your experience on our website.

Learn more.
Accept



ShareThis Copy and Paste