The Consumer Financial Protection Bureau is conducting a survey of institutions offering small-business credit products to determine potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act.
CFPB seeking feedback on small-biz reporting costs
July 28, 2020 / By ICBA
The Consumer Financial Protection Bureau is conducting a survey of institutions offering small-business credit products to determine potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act.
The Consumer Financial Protection Bureau is conducting a survey of institutions offering small-business credit products to determine potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act.
Section 1071 requires financial institutions to compile, maintain, and report to the bureau certain information about small-business credit applications. The survey is open until Oct. 1.
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