Friday, June 28, 2013

SBA Nearly Triples Small Business Size Standard for Banks and Credit Unions

The Small Business Administration (SBA) issued a final rule increasing small business size standards for several industries, including commercial banks, savings institutions, and credit unions. The rule increases the size standard from $175 million in assets to $500 million.

This change to the size standard will enable more community banks and credit unions to benefit from provisions that require federal agencies to assess and minimize regulatory costs on small entities under the Regulatory Flexibility Act and the Small Business Regulatory Enforcement and Flexibility Act.

The Consumer Financial Protection Bureau uses SBA size standards to identify small banks and credit unions that are eligible to serve as “small entity representatives” during the SBREFA review process.

Read the final rule.
Posted by at
Labels: ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
 

The content is provided for educational purposes only, with the understanding that neither the authors, contributors, nor the publishers of this site are engaged in rendering legal, accounting or other expert or professional services. If legal or other expert assistance is required, the services of a competent professional should be sought.

Comments appearing in response to articles appearing on this site do not necessarily reflect the views of the ABA. ABA makes no representations regarding the truth or accuracy of commentary or opinions that may be posted in response to the articles that appear on this website.

The inclusion herein of any link to a website, either in the text of an article or in a comment, does not denote any approval, sponsorship, or endorsement by the ABA, and ABA is not responsible for the content or opinions expressed on those linked websites or related commentary. This content is not licensed to third parties sites and is not affiliated with any third party site. Any reference to the author or this content on any third party site on the Internet is not authorized by the ABA.

It is the policy of the American Bankers Association to comply fully with all antitrust laws. Certain discussions should be considered off-limits, including those that contain competitively sensitive data such as price and cost information, or statements that could be construed as reflecting an attempt or desire to control or influence a particular market or markets. Future pricing or other prospective competitive information should never be shared.