CFPB issues long-awaited Section 1071 final rule
https://bankingjournal.aba.com/2023/03/cfpb-issues-long-awaited-section-1071-final-rule/
WEBMar 30, 2023 · The CFPB today released a long-awaited final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses. The final rule—which covers closed-end loans, lines of credit, business credit cards, …
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