CFPB Seeks to Reopen Small Business Lending Rule Under Section 1071
By EsqSocial Corporation 07/04/25
On April 3, the CFPB informed a Florida federal district court that it plans to initiate new rulemaking to revise its small business lending data collection rule under Section 1071 of the Dodd-Frank Act. The Bureau agreed to stay the rule’s compliance deadlines in response to ongoing litigation brought by a trade group representing providers of sales-based financing....
By: Sheppard Mullin Richter & Hampton LLP