News & Analysis as of

Dodd-Frank Wall Street Reform and Consumer Protection Act Loans Small Business

The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and... more +
The Dodd-Frank Wall Street Reform and Consumer Protection Act is a United States federal statute signed into law on July 21, 2010. The Act was passed in response to the Great Recession of the late 2000s and includes broad reforms related to many aspects of the financial and banking industry. Notable sections of the Act include stricter regulations of the derivatives market, as well as the Volcker Rule, which restricts the trading practices of FDIC-insured institutions.    less -
Orrick, Herrington & Sutcliffe LLP

CFPB extends compliance dates for its 1071 small business data rule

On June 18, the CFPB issued an interim final rule in the Federal Register extending the compliance dates for its 2023 Small Business Lending Under the Equal Credit Opportunity Act rule (Regulation B). The Bureau indicated...more

Orrick, Herrington & Sutcliffe LLP

CFPB excludes Section 1071 rule from supervision and enforcement focus

On April 30, the CFPB announced it would not prioritize supervision or enforcement of the Section 1071 small business lending rule for entities that are not covered by the court-ordered stay. As previously covered by...more

Moore & Van Allen PLLC

CFPB Announces It Will Not Prioritize Enforcement And Supervision Of Its Small Business Lending Data Collection Rule Under The...

On May 1, the Consumer Financial Protection Bureau (CFPB) announced that it will not prioritize enforcement or supervision of its small business lending data collection rule (the “Rule”) implementing the requirements of...more

Sheppard Mullin Richter & Hampton LLP

CFPB Halts Enforcement of Small Business Lending Rule for Institutions Outside Fifth Circuit

On April 30, the CFPB announced it will deprioritize enforcement and supervision of its small business lending data collection rule for institutions not covered by the stay issued by the U.S. Court of Appeals for the Fifth...more

Ballard Spahr LLP

Consumer Finance Monitor Podcast Episode: Everything You Want to Know About the CFPB as Things Stand Today, and Lots More - Part 1

Ballard Spahr LLP on

Our podcast show being released today is Part 1 of a repurposed interactive webinar that we presented on March 24, featuring two of the leading journalists who cover the CFPB - Jon Hill from Law360 and Evan Weinberger from...more

Stinson LLP

The End of Section 1071 as We Know It: CFPB to Reopen Rulemaking

Stinson LLP on

In a recent filing in the U.S. District Court for the Southern District of Florida, the Consumer Financial Protection Bureau (CFPB) disclosed that its new leadership has directed staff to initiate a fresh rulemaking process...more

Ballard Spahr LLP

Republicans renew efforts to repeal Section 1071

Ballard Spahr LLP on

Republicans on Capitol Hill are seeking to repeal a section of the Dodd-Frank Act that requires financial institutions to report information contained in loan applications submitted by women-owned, minority-owned and...more

GeoDataVision

Should the CFPB Reconsider the Implementation Dates for Section 1071 Data Collection?

GeoDataVision on

The recent Supreme Court ruling that upheld the constitutionality of the Consumer Financial Protection Bureau’s funding resulted in the Bureau announcing the new effective dates for banks to begin collecting their CRA...more

Cadwalader, Wickersham & Taft LLP

Small Business Lenders Subject to New CFPB Data Reporting Rule

Resulting from a lawsuit by the California Reinvestment Coalition against the Consumer Financial Protection Bureau (“CFPB”) in 2019 for its failure to promulgate a small business lending data rule in compliance with the...more

Ballard Spahr LLP

CFPB to hold May 10 field hearing on small business lending

Ballard Spahr LLP on

The CFPB will hold a field hearing on small business lending in Los Angeles, CA on May 10, 2017. The announcement, which took the form of a posting on the events page of the CFPB’s website, contains only the usual statement...more

Ballard Spahr LLP

CFPB identifies 2017 priorities in annual fair lending report

Ballard Spahr LLP on

In its new annual report covering its fair lending activities during 2016, the CFPB identifies the following three areas on which it “will increase our focus” in 2017...more

Ballard Spahr LLP

Director Cordray’s Wall Street Journal interview today

Ballard Spahr LLP on

Here are the highlights from Richard Cordray’s interview earlier today with the Wall Street Journal. He refused to respond to the question of whether or not the memo issued on January 20 on behalf of President Trump by...more

Morrison & Foerster LLP

CFPB Poised to Expand Regulation to Small Business Lending: Expect the Unexpected

Recent initiatives by the Consumer Financial Protection Bureau (“CFPB” or Bureau) to dramatically expand its regulation of small business lending present a confluence of concerns to industry participants. These initiatives...more

Ballard Spahr LLP

Fair Lending Director Ficklin Discusses Small Business Lending, LGBT issues, LEP consumers and Inclusive Communities at ABA...

Ballard Spahr LLP on

Last Thursday, I had the pleasure of teaching a class on payments and banking products to new lawyers at the American Bar Association’s Consumer Financial Services Institute. I arrived early for the class and got to hear a...more

Ballard Spahr LLP

CFPB schedules October 7 field hearing on arbitration; Alan Kaplinsky to represent industry

Ballard Spahr LLP on

The CFPB has announced that it will hold a field hearing about arbitration in Denver, Colorado on October 7, 2015 and has asked Alan Kaplinsky, Practice Leader of Ballard Spahr’s Consumer Financial Services Group, to...more

Davis Wright Tremaine LLP

Treasury Department RFI on Online Marketplace Lending Signals Potential Shift Towards Regulation of Small Business Loans

The Treasury Department recently issued a request for information to explore various aspects of “online marketplace lending.” The RFI seeks comment on a broad array of online financial services companies that lend not only to...more

16 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide