On September 10, 2025, Relman Colfax submitted an amicus brief in federal court in support of a challenge to the Trump Administration’s attempt to stop lenders from collecting and reporting data designed to bring transparency and accountability to the small business credit market.
The Trump Administration halted the collection and reporting regime required by the Dodd-Frank Act 15 years ago and implemented by a landmark rule finalized in 2023. Congress had required the data to address the absence of comprehensive information on the types and terms of financing that small businesses seek and how well the credit markets respond to their needs.
The Relman Colfax brief urges the court to allow data collection and reporting to commence and explains how the data is needed to help lenders identify unmet credit needs, encourage competition and innovation, and discourage predatory practices. The brief was filed on behalf of the Responsible Business Lending Coalition, the California Association for Microenterprise Opportunity, Allies for Community Business, and Scale Link.
The amicus brief was submitted in Rise Economy et al. v. Vought et al., 1:25-cv-02374 (D.D.C).
The Relman Colfax team consists of Stephen Hayes, Tim Lambert, and Soohyun Choi.