The House today 221-202 to pass a Senate joint resolution to overturn the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses.
Browsing: Section 1071
In a letter to House leaders, ABA urged lawmakers to approve a Senate joint resolution to overturn the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting of credit application data for small businesses.
A Texas court expanded a preliminary injunction on enforcement of the CFPB’s Section 1071 small business data collection rule to include all financial institutions covered by the rule.
As ag and rural banks enter 2024, a host of legislative issues currently being debated stand ready to affect the course of their clients’ business for the foreseeable future.
The Senate voted 53-44 to approve a resolution of disapproval seeking to overturn the CFPB’s final rule implementing Section 1071 of the Dodd-Frank Act.
A federal judge in Kentucky issued a nationwide injunction blocking enforcement of the Consumer Financial Protection Bureau’s Section 1071 final rule until the U.S. Supreme Court rules on the constitutionality of the bureau’s funding structure.
Compliance question of the month: What methods may banks use to estimate gross annual revenue to determine their tier for data collection purposes under the §1071 rule?
My bank will be reporting small business lending data under the Equal Credit Opportunity Act…
The CFPB issued an update to its previously published filing instructions guide for small business lending data.
The CFPB should extend a court-ordered stay of its Section 1071 final rule to cover all FDIC-insured banks while the U.S. Supreme Court considers a separate legal challenge concerning the bureau, 50 state bankers associations said.
In the wake of a judge’s order delaying compliance dates with the CFPB’s Section 1071 final rule for Texas Bankers Association and ABA members, TBA and ABA today asked CFPB Director Rohit Chopra to use his discretion to apply the stay to all FDIC-insured banks.