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CFPB | RIN: 3170-AA09 | Publication ID: Spring 2022 |
Title: Small Business Lending Data Collection Under the Equal Credit Opportunity Act | |
Abstract:
Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the Equal Credit Opportunity Act (ECOA) to require, subject to rules prescribed by the Bureau, financial institutions to report information concerning credit applications made by women-owned, minority-owned, and small businesses. On October 8, 2021, a Notice of Proposed Rulemaking (NPRM) was published in the Federal Register. The Bureau’s next action for the section 1071 rulemaking is the issuance of a final rule. |
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Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 12 CFR 1002 | |
Legal Authority: 15 U.S.C. 1691c-2 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: Undetermined |
Small Entities Affected: Businesses | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Kristine Andreassen Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |