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- CFPB proposes changes to Section 1071 Rule
The CFPB is proposing major changes to its final rule that would require financial institutions to report information contained in loan applications submitted by small businesses, including women-owned and minority-owned small businesses The rule is better known as the “Section 1071 rule” after the section of the Dodd-Frank Act that required the CFPB to adopt it “The CFPB believes in
- Small business lending rulemaking | Consumer Financial . . .
Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to compile, maintain, and submit to the Bureau certain data on applications for credit for women-owned, minority-owned, and small businesses
- CFPB Proposal: Small Business Lending Data (Section 1071)
The Consumer Financial Protection Bureau (CFPB) issues a proposed rule that would amend its small business data collection rule under the Equal Credit Opportunity Act and Regulation B, which implements section 1071 of the Dodd-Frank Act
- Section 1071 Redo: CFPB Proposes to Narrow Coverage, Data . . .
The proposal re-centers Section 1071 on “core” providers, products, and data, with a single compliance date and material carve-outs to reduce complexity and improve data quality
- CFPB Proposed Rule to Revise Provisions of Section 1071 Small . . .
The CFPB believes these proposed changes would streamline the rule, reduce complexity for lenders, and improve data quality, advancing the purposes of section 1071 and complying with recent executive directives
- CFPB Issues Proposed Amendments to the 1071 Rule
On November 13, 2025, the CFPB issued proposed revisions to certain provisions of Regulation B, subpart B, implementing changes to the Equal Credit Opportunity Act made by section 1071 of the Dodd-Frank Act The CFPB believes the proposed changes would streamline the rule, reduce complexity for lenders, and improve data quality, advancing the purposes of section 1071 and complying with recent
- 1071 Update: November 2025 | Ncontracts
The latest 1071 compliance updates, news, and analysis for financial institutions and small business lenders covered under the CFPB’s Section 1071 rule
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