American Banker, September 12, 2021, CFPB Small-Business Data Plan Scares Banks. Activists Say it Should
The Consumer Financial Protection Bureau’s proposal to collect data on small-business loans has been over a decade in the making, but the fight over the rulemaking is just getting started.
“It is immensely important to get a handle on whether underserved communities and minority-owned small businesses are getting reasonably priced credit or not,” said Josh Silver, senior advisor for policy at the National Community Reinvestment Coalition, who has been advocating for the data collection for 20 years.
