On September 15, 2023, the Consumer Financial Protection Bureau (CFPB) published an outline of expansive rulemaking proposals to modernize the coverage of the Fair Credit Reporting Act (FCRA) to include data brokers, data...more
9/26/2023
/ Artificial Intelligence ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Reports ,
Creditors ,
Data Brokers ,
Fair Credit Reporting Act (FCRA) ,
Financial Services Industry ,
Medical Debt ,
Proposed Rules ,
Rulemaking Process ,
SBREFA ,
Small Business ,
Underwriting
Spurred in part by the pandemic, regulators and legislators have been increasingly focused on the accessibility and transparency of loans to small-to-medium businesses. On the federal level, the CFPB is considering a rule...more
5/9/2022
/ Biden Administration ,
Commercial Loans ,
Disclosure Requirements ,
Finance Lender ,
NMLS ,
Proposed Rules ,
Registration Requirement ,
Reporting Requirements ,
Small Business ,
State and Local Government ,
Transaction Fees
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank), the Consumer Financial Protection Bureau (CFPB) has authority to require reports and conduct examinations with respect to large...more
5/9/2022
/ Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Consumer Protection Laws ,
Dodd-Frank ,
ECOA ,
Enforcement Authority ,
Financial Services Industry ,
FinTech ,
Nonbank Firms ,
Proposed Rules ,
Regulatory Authority
On September 1, 2021, the CFPB issued a proposed rule that would add a new subpart to Regulation B, which implements the federal Equal Credit Opportunity Act (ECOA). The rule would implement Section 1071 of the Dodd-Frank Act...more
10/22/2021
/ Annual Reports ,
Biden Administration ,
Commercial Loans ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Data Collection ,
Dodd-Frank ,
ECOA ,
Financial Institutions ,
Financial Services Industry ,
Loan Applications ,
Minority-Owned Businesses ,
Proposed Rules ,
Small Business ,
Women-Owned Businesses