Section 1071 – The Final Small Business Lending Data Collection Rule


The CFPB’s final Small Business Data Collection Rule (expected to be finalized before Annual Conference) will require significant regulatory and operational changes and buildout of new processes to collect numerous data points about each small business commercial loan and commercial loan application, far beyond the data required to be collected and reported previously. Following these rules and building processes correctly is critical, as the data will be used by the CFPB and other regulators for fair lending analysis by regulators, and will likely be available to the public, including plaintiffs’ lawyers. Learn what your company needs to know and do in this vital area.

Michael Flynn
Of Counsel