Reminder: Comments Due Jan. 6 on CFPB Small Business Lending Data Collection Proposal

Comments are due to the Consumer Financial Protection Bureau (CFPB) Jan. 6 on the Bureau’s proposed rule, intended to amend Regulation B to implement changes to the Equal Credit Opportunity Act (ECOA) made by section 1071 of the Dodd-Frank Act.

The rule would require financial institutions to collect and report data on the credit applications of small businesses.

Related: Small Business Data Collection: Share Your Concerns With CFPB