ASBCC Supports: Consumer Financial Protection Bureau (CFPB) Proposed Rule to Bolster Small Business Access to Credit

CFPP
Written By ASBCC Admin

On September 1, 2021, the Consumer Financial Protection Bureau (Bureau) issued a notice of proposed rulemaking (NPRM) inviting the public to comment on its proposal to implement the small business lending data collection requirements set forth in section 1071 of the Dodd-Frank Act (Section 1071). The Bureau is proposing to add a new subpart B to Regulation B to implement Section 1071’s requirements.

The NPRM, which includes information on submitting comments, is available at https://www.consumerfinance.gov/1071-rule. The NPRM has a comment period of 90 days following publication in the Federal Register.

For details of this action, and to submit comments, please view the CFPP summary.

ASBCC Admin
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