📊SBA Seeks Comments on Fair Banking Data Collection Process
The Small Business Administration (SBA) intends to request approval from the Office of Management and Budget (OMB) for the collection of information described below. The Paperwork Reduction Act (PRA) requires federal agencies to publish a notice in the Federal Register concerning each proposed collection of information before submission to OMB, and to allow 60 days for public comment in response to the notice. This notice complies with that requirement.
Learn More🏦Executive Order 14331
Executive Order 14331 aims to guarantee fair banking access by prohibiting restrictions based on political or religious beliefs. It addresses previous unlawful debanking practices and mandates financial institutions to focus on objective risk analysis when providing services. The order outlines clear guidelines for banking regulators to eliminate politicized actions and reinstates access for previously denied clients.
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