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On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final rule implementing the small business lending data collection requirements set forth in Section 1071.
Resulting from a lawsuit by the California Reinvestment Coalition against the Consumer Financial Protection Bureau (“CFPB”) in 2019 for its failure to promulgate a small business.
Banks will need to start reporting the demographics and income of small-business loan applicants under new rules published Thursday by the Consumer Financial Protection Bureau.
On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) released its final rule implementing Section 1071 of the Dodd-Frank Act, which will require financial institutions to.