JD Supra

CFPB Finalizes Revised Section 1071 Rule: A Narrower Framework with a 2028 Compliance Date

The CFPB has finalized its long-anticipated revision to the Section 1071 small business lending data collection rule, published in the ...
Banking Dive

CFPB slims small-business borrower data collection rule

The rule, set to take effect in 2028, narrows back to 13 the number of data points collected and raises the lending threshold ...
American BankerOpinion

Rule making is a long process

The Consumer Financial Protection Bureau seems poised to finally complete the process of implementing a law that was passed ...
American Banker

Much-maligned small-business data rule close to finish line

The Consumer Financial Protection Bureau is poised to finalize a contentious rule mandating the collection of demographic ...
deBanked

Merchant Cash Advances Excluded From CFPB Small Business Loan Data Collection

Merchant Cash Advances are now excluded from the CFPB’s small business loan data collection requirements. In the final rules ...
Inc

Trump Scraps Controversial Small-Business Data Collection Rule

The decision is a win—for now, at least—for banking groups that claimed the additional red tape imposed by the rule would have a chilling effect on access to capital. The rule was seen as a hot-button ...
JD Supra

CFPB Announces It Will Not Prioritize Enforcement And Supervision Of Its Small Business Lending Data Collection Rule Under The Equal Credit Opportunity Act

On May 1, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervision of its small business lending data collection rule (the “Rule”) implementing ...