1071

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More than a month after it was issued, the CFPB’s notice of proposed rulemaking (NPRM) to implement Section 1071 of the Dodd-Frank Act was published in the Federal Register on Friday, October 8.  Section 1071 amended the ECOA to require financial institutions to collect and report certain data in connection with credit applications made by…

In the lawsuit alleging wrongful delay by the CFPB in adopting regulations to implement Section 1071 of the Dodd-Frank Act, the parties have entered into a stipulation that requires the CFPB to issue a Notice of Proposed Rulemaking (NPRM) by September 30, 2021.

Section 1071 amended the ECOA to require financial institutions to collect and…

The CFPB has filed its fifth status report with the California federal district court as required by the Stipulated Settlement Agreement (Agreement) in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting regulations to implement Section 1071 of the Dodd-Frank Act.

Section 1071 amended the ECOA to require financial institutions…

The CFPB has filed its fourth status report with the California federal district court as required by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting regulations to implement Section 1071 of the Dodd-Frank Act.

Section 1071 amended the ECOA to require financial institutions to…

The CFPB took another significant step towards issuing regulations to implement Section 1071 of the Dodd-Frank Act by releasing the final report of the small business review panel (Panel) on the proposals the Bureau is considering for developing such regulations (Report).

Section 1071 amended the ECOA to require financial institutions to collect and report certain…

The CFPB has filed its second status report with the California federal district court as required by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting regulations to implement Section 1071 of the Dodd-Frank Act.

Section 1071 amended the ECOA to require financial institutions to…

The CFPB has filed its first status report with the California federal district court as required by the Stipulated Settlement Agreement in the lawsuit filed against the Bureau in May 2019 alleging wrongful delay in adopting regulations to implement Section 1071 of the Dodd-Frank Act.

Section 1071 amended the ECOA to require financial institutions to…

The CFPB has filed a cross-motion for summary judgment in the lawsuit filed by the California Reinvestment Coalition, the National Association for Latino Community Asset Builders, and two individual small business owners seeking a declaration that the CFPB’s failure to issue regulations implementing Section 1071 violates the Administrative Procedure Act and an order directing the…

The CFPB announced today that it will hold a symposium on Dodd-Frank Act Section 1071 on November 6, 2019.  Section 1071 amended the ECOA to require financial institutions to collect and report certain data in connection with credit applications made by women- or minority-owned businesses and small businesses.  Such data includes the race, sex, and…

The CFPB has filed an answer in the lawsuit filed in May 2019 in a California federal district court by the California Reinvestment Coalition, the National Association for Latino Community Asset Builders, and two individual small business owners seeking a declaration that the CFPB’s failure to issue regulations implementing Section 1071 of the Dodd-Frank Act…