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Troutman Pepper Weekly Consumer Financial Services COVID-19 Newsletter

Troutman Sanders

On April 15, the Federal Trade Commission (FTC) announced the first enforcement action taken under the new COVID-19 Consumer Protection Act (COVID-19 CPA), which imposes monetary penalties on violators. The company was operating without registering as a debt settlement service provider as required by Minnesota law.

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The State of Small Business Debt in 2024: Insights from Global Data

Burt and Associates

The Rise in Business Borrowing The Global Findex Database reports that in 2021, nearly 45% of small businesses relied on credit to finance operations , with many turning to banks, alternative lenders, and trade credit. Trade Credit : Suppliers extend longer payment terms , leading to higher outstanding receivables.