In response to the Consumer Financial Protection Bureau’s Request for Information (RFI) regarding small business lending reporting mandates, financial trade organizations expressed concern about the impact such requirements will have on smaller lenders’ ability to serve small businesses.
The American Bankers Association, the Credit Union National Association and the Independent Community Bankers of America were among the trade groups to respond to the RFI, which the bureau published in the Federal Register May 15, 2017.
See what feedback the trade organizations offered the bureau and what concerns they highlighted.