Section 1071 requirements will bring major challenges and risks
Another indication of significant challenges ahead is the 888-page final rule’s frequent use of a version of the term “reasonably ...
Tag: Small business
CFPB issues long-awaited Section 1071 final rule
The CFPB released a long-awaited final rule implementing Section 1071 of the Dodd-Frank Act, which requires the collection and reporting ...
Agencies release 2021 CRA data on small business, community development lending
The federal banking agencies today released 2021 Community Reinvestment Act data on small business, small farm and community development lending.
Chopra: 1071 rulemaking to be completed by end of March
CFPB Director Rohit Chopra acknowledged concerns raised by ABA and others that the rule could have an outsized effect on ...
Survey: Small businesses look to banks for help in tough economy
Small businesses are looking to banks for help as the economy weakens but don’t always feel they are receiving an ...
Trade groups to lawmakers: Don’t raise taxes on small, family-owned businesses
As households and businesses face a possible recession, decades-high inflation levels and other economic challenges, a broad coalition of trade ...
Survey: Small and midsize businesses alter pandemic-era priorities
small companies are ready for significant changes in response to inflation and middle-market companies are addressing workforce and cybersecurity issues.
SBA OIG calls out lack of guidance to lenders on PPP fraud
The U.S. Small Business Administration failed to provide lenders with “sufficient, specific guidance to effectively identify, track, address and resolve ...
Provident Bank survey: Small businesses bracing for Russian cyberattacks
A majority of the nation’s small business owners—78%—say they are concerned about the threat of a Russian cyberattack in light ...
House bill would extend CFPB supervisory authority to nonbank small biz lenders
As the CFPB looks to implement Section 1071 of the Dodd-Frank Act—which calls for the collection of small business lending ...
