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Proposed Rules Section 1071 Lenders

Holland & Knight LLP

CFPB Plans to Reopen Section 1071 Small Business Lending Rule

Holland & Knight LLP on

The Consumer Financial Protection Bureau (CFPB) has revealed its intention to make changes to the small business loan data collection and reporting rule (1071 Rule) in light of continued opposition from financial institutions...more

Sheppard Mullin Richter & Hampton LLP

CFPB Seeks to Reopen Small Business Lending Rule Under Section 1071

On April 3, the CFPB informed a Florida federal district court that it plans to initiate new rulemaking to revise its small business lending data collection rule under Section 1071 of the Dodd-Frank Act. The Bureau agreed to...more

Ballard Spahr LLP

CFPB issues Semi-Annual Report to Congress; CFPB Director Chopra to appear before House and Senate Committees this week (UPDATED)

Ballard Spahr LLP on

Last week, the CFPB issued its Semi-Annual Report to Congress covering the period beginning October 1, 2022 and ending March 31, 2023. ...more

Adams & Reese

Commercial lenders: Are you ready to start providing data on small business lending to the CFPB?

Adams & Reese on

Over the past year and a half, the CFPB has been quietly taking steps toward implementing regulations around collecting data from commercial lenders regarding commercial loans. Those efforts culminated on September 1, 2021,...more

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