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8 09, 2021

FedFin on: Small-Business Lending Disclosures

2023-08-21T13:45:34-04:00September 8th, 2021|The Vault|

Turning again to a provision in the 2010 Dodd-Frank Act, the Bureau of Consumer Financial Protection has issued a sweeping proposal to implement small-business and small-farm lending disclosure requirements akin to those long required under the Home Mortgage Disclosure Act (HMDA).  Although the law focuses on lender reports to discern different loan-approval rates based on gender or ethnic/racial groups, the notice of proposed rulemaking (NPR) goes farther also to require extensive detail on loan amounts and pricing on approved loans a borrower chooses not to accept.  Data would be required from all but the very smallest bank and nonbank lenders.

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8 09, 2021

SBA40

2023-08-21T13:45:46-04:00September 8th, 2021|1- Financial Services Management|

Small-Business Lending Disclosures

Turning again to a provision in the 2010 Dodd-Frank Act, the Bureau of Consumer Financial Protection has issued a sweeping proposal to implement small-business and small-farm lending disclosure requirements akin to those long required under the Home Mortgage Disclosure Act (HMDA).  Although the law focuses on lender reports to discern different loan-approval rates based on gender or ethnic/racial groups, the notice of proposed rulemaking (NPR) goes farther also to require extensive detail on loan amounts and pricing on approved loans a borrower chooses not to accept.  Data would be required from all but the very smallest bank and nonbank lenders.

SBA40.pdf

8 09, 2021

SMBUS27

2023-08-21T13:53:42-04:00September 8th, 2021|1- Financial Services Management|

Small-Business Lending Disclosures
Turning again to a provision in the 2010 Dodd-Frank Act, the Bureau of Consumer Financial Protection has issued a sweeping proposal to implement small-business and small-farm lending disclosure requirements akin to those long required under the Home Mortgage Disclosure Act (HMDA). Although the law focuses on lender reports to discern different loan-approval rates based on gender or ethnic/racial groups, the notice of proposed rulemaking (NPR) goes farther also to require extensive detail on loan amounts and pricing on approved loans a borrower chooses not to accept. Data would be required from all but the very smallest bank and nonbank lenders.

SMBUS27.pdf

1 09, 2021

Daily090121

2023-08-22T12:59:13-04:00September 1st, 2021|2- Daily Briefing|

Affordable Rentals, Manufactured Housing Get Boost from White House, FHFA
The Biden Administration today announced a raft of housing policy changes to boost affordable housing.

Gensler Tells EU: SEC to Press Crypto, Climate, Digital-Brokerage Regs
In comments to EU legislators today, SEC Chairman Gensler not only stood by his ambitious agenda, but also placed it in the broad context of global developments.

CFPB Announces Sweeping Plan to Gather HMDA-Style Data for Small-Business Lending
Following through on Acting Director Uejio’s pledge to quickly implement Dodd-Frank mandated small-business lending data collections after these were slow walked under former Director Kraninger, the CFPB today proposed to require lenders to disclose detailed information in this sector going well beyond the simple requirements in traditional ECOA reports.

Daily090121.pdf

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