News & Analysis as of

Financial Institutions Data Collection Proposed Rules

Nutter McClennen & Fish LLP

Nutter Bank Report: August 2024

CFPB Issues Filing Instructions Guide for Small Business Lending Data - The CFPB has published instructions for banks and other covered financial institutions to submit small business lending data that is required to be...more

Ballard Spahr LLP

Chopra Delivers Testimony to Congress on Semi-Annual Report

Ballard Spahr LLP on

On June 4, 2024, the CFPB issued its Semi-Annual Report to Congress covering the period beginning April 1, 2023 and ending September 30, 2023. On June 12, 2024, CFPB Director Chopra appeared before the Senate Banking...more

Jaburg Wilk

CFPB Proposes Rule Granting Consumers Greater Access to and Control Over Their Financial Data

Jaburg Wilk on

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) unveiled a proposed rule to implement Section 1033 of the Dodd-Frank Act. This section mandates that entities subject to it should provide consumers access...more

Locke Lord LLP

CFPB’s Data Access Rulemaking ‎Process: A Heads-Up to Covered Data Providers

Locke Lord LLP on

On October 27, 2022, the Consumer Financial Protection Bureau (“CFPB”) began the process needed to implement a much anticipated rule regarding section 1033 of the Dodd-Frank Act by releasing an outline providing initial...more

Moritt Hock & Hamroff LLP

Q&A On Preparing Now For 1071 – Brett Garver Answers Key Questions, Notes Heavier Burden On Smaller Lenders

Amid concerns about Section 1071’s potential impact on the secured lending and equipment finance industries, Brett Garver answers key questions about the new requirements and their implementation timeline. He is a partner...more

Eversheds Sutherland (US) LLP

CFPB Gears Up to Advance Financial Inclusion Agenda with Proposed Rule Requiring Annual Reports on Small Business Credit...

On September 1, 2021, the CFPB issued a proposed rule that would add a new subpart to Regulation B, which implements the federal Equal Credit Opportunity Act (ECOA). The rule would implement Section 1071 of the Dodd-Frank Act...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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