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CFPB RIN: 3170-AA09 Publication ID: Fall 2022 
Title: Small Business Lending Data Collection Under the Equal Credit Opportunity Act 

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. In September 2020, the Bureau released an outline of proposals under consideration and alternatives considered in advance of convening a panel under the Small Business Regulatory Enforcement Fairness Act (SBREFA), in conjunction with the Office of Management and Budget and the Small Business Administration’s Chief Counsel for Advocacy. The SBREFA panel was convened in October 2020 and received feedback from representatives of small entities on the impacts the rules the Bureau is considering to implement section 1071 would have on small entities likely to be directly affected by the rulemaking.  The panel’s report was completed and released in December 2020.  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.

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
Action Date FR Cite
Request for Information  05/15/2017  82 FR 22318   
Request for Information Comment Period End  09/14/2017 
SBREFA Outline  09/15/2020 
Pre-Rule Activity--SBREFA Report  12/14/2020 
NPRM  10/08/2021  86 FR 56356   
NPRM Comment Period End  01/06/2022 
Final Rule  01/00/2023 
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