CFPB Eyes More Work On Biz Lending Data Rules Amid Suit
Law360 (May 23, 2019, 10:21 PM EDT) -- The Consumer Financial Protection Bureau says it's dusting off a dormant rulemaking initiative around the collection of data that's supposed to aid in fair lending enforcement, but advocates suing to force the agency to finish the project say they view the move as little more than a smokescreen.
The CFPB said in its Spring 2019 rulemaking agenda, released Wednesday, that it "is now in the process of reactivating" its effort to write rules implementing a nearly decade-old congressional mandate from Section 1071 of the Dodd-Frank Act to collect and publish data on loan applications by women-owned, minority-owned and small businesses....
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