The Consumer Financial Protection Bureau plans to propose rulemaking on small business lending data collection and consumer data sharing before the end of the year, according to the recently released agency rule list for spring.
Earlier this year, the CFPB announced it would revisit two Biden-era rules implementing Sections 1071 and 1033 of the Dodd-Frank Act, which concern small business data lending collection and data sharing, respectively. Both had been challenged in federal court, and the CFPB agreed to repropose both rules to resolve the lawsuits.
The agency rule list shows the CFPB is seeking to issue notices of proposed rulemaking on 1071 in October and 1033 in December. It is also considering a host of other rule changes, including rescinding a Biden-era rule to create a registry of nonbanks a nonbank registry and considering a possible rule “to clarify” statutory language with respect to unfair, deceptive, or abusive acts and practices.
