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The CFPB’s Small Business Data Collection Proposals: Ten Things To Know

September 21, 2020, Covington Alert

On September 15, 2020, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) released an Outline of Proposals under Consideration and Alternatives Considered for the small business data collection rulemaking mandated by Section 1071 of the Dodd-Frank Act and a High-Level Summary of Outline of Proposals under Consideration for SBREFA: Small Business Lending Data Collection Rulemaking. The Bureau intends to release a proposed rule to implement Section 1071 after receiving public feedback, which is due by December 14, 2020.

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