ABA: 2026 Blueprint for Growth Outlines Key Policy Priorities
The American Bankers Association today released its 2026 Blueprint for Growth, outlining ABA’s top policy priorities for the year ahead. The Blueprint will shape ABA’s ongoing engagement with Congress and the administration on the most important issues facing banks of all sizes, charters and business models. It was developed by ABA’s Government Relations Council, made up…
CFPB: Small Business Lending Data Collection Proposed Rule Issued to Revise Section 1071 Requirements
The Consumer Financial Protection Bureau (CFPB or Bureau) proposes 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 Wall Street Reform and Consumer Protection Act. The Bureau is reconsidering coverage of certain credit transactions and financial institutions; the small business…
ICBA: Statement on CFPB’s New Proposal to Implement Section 1071 Small-Business Reporting Requirements
Independent Community Bankers of America (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on today’s updated Consumer Financial Protection Bureau proposed rule to implement Section 1071 small-business reporting requirements. “ICBA and the nation’s community bankers commend the administration for making needed improvements to the CFPB’s 1071 rule to help mitigate the negative impact of…
ABA: Statement on CFPB’s Section 1071 Reproposal
“We applaud the CFPB for addressing serious flaws in its previous Section 1071 rulemaking, which exceeded the Bureau’s legal authority and constrained banks’ ability to make small business loans that are so essential to economic growth. This is one of many recent regulatory reforms advanced by the CFPB that will unleash America’s banks, allowing them…
CFPB: Agency Will Not Prioritize Enforcement or Supervisory Actions of Section 1071 Small Business Lending Requirements
CFPB Keeps Its Enforcement and Supervision Resources Focused on Pressing Threats to Consumers The Consumer Financial Protection Bureau is announcing today that, with respect to the regulation titled Small Business Lending Under the Equal Credit Opportunity Act (Regulation B), implementing Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, 88 Fed. Reg….
ICBA: ICBA Applauds House Financial Services Committee for Advancing Three Pro-Community Bank Bills to Repeal 1071, Promote De Novo Bank Formation, and Restrict Central Bank Digital Currency
The Independent Community Bankers of America (ICBA) commended the House Financial Services Committee for advancing three ICBA-advocated bills to support community banks and the local communities they serve. “ICBA and the nation’s community banks commend the House Financial Services Committee for today’s votes to advance pro-community bank bills to repeal the Consumer Financial Protection Bureau’s…
ICBA: CFPB’s 1071 Rule Again Paused by Court
A U.S. court of appeals temporarily paused the Consumer Financial Protection Bureau’s 1071 small-business rule and extended its compliance deadlines until further notice, as advocated by ICBA. Court Ruling: The U.S. Court of Appeals for the Fifth Circuit granted a request by ICBA and other plaintiffs to suspend implementation of the rule pending their ongoing legal…
Congressman Williams Introduces 1071 Repeal to Protect Small Business Lending Act
Today, Congressman Roger Williams (TX-25) introduced legislation to repeal the small business loan data collection requirements established under Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This bill seeks to eliminate costly regulatory burdens on financial institutions, ensuring greater access to credit for small businesses. “Small businesses are the backbone of the American…
ABA & TBA Call on CFPB to Extend 1071 Stay to All FDIC-Insured Banks
In a new letter to CFPB Director Rohit Chopra, the Texas Bankers Association (TBA) and American Bankers Association (ABA) called on the Consumer Financial Protection Bureau to extend U.S. District Court Judge Randy Crane’s recent court order pausing the CFPB’s 1071 Final Rule implementation to all FDIC-insured banks. “As you know, we requested relief for every entity subject to…
ABA: U.S. District Court Grants Injunction on CFPB Section 1071 Final Rule
Court Order Pauses Final Rule Implementation for Texas Bankers Association and American Bankers Association Members The Texas Bankers Association (TBA) and co-plaintiffs, Rio Bank of McAllen, Texas, and the American Bankers Association (ABA), have been successful in their motion to halt implementation of the Consumer Financial Protection Bureau’s (CFPB) Section 1071 Final Rule. In an order…
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