News & Analysis as of

Section 1071 Dodd-Frank Wall Street Reform and Consumer Protection Act Proposed Rules

Kilpatrick

CFPB Signals Significant Changes to Small Business Lending Rule: New Section 1071 Rulemaking Forthcoming

Kilpatrick on

The Consumer Financial Protection Bureau (CFPB or Bureau) recently announced that it plans to revisit – and potentially revise – its controversial small business data collection rule implementing Section 1071 of the...more

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

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

Ballard Spahr LLP

CFPB releases Section 1071 SBREFA outline

Ballard Spahr LLP on

The CFPB has taken a significant step towards issuing regulations to implement Section 1071 of the Dodd-Frank Act by releasing an outline of the proposals it is considering in preparation for convening a small business...more

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