Federal lawsuit says CFPB should collect data on business-loan applications from women and minorities

Small Business Loan Data:. women and minorities. The largest database currently available, the Community. Likewise, the CFPB should collect data on creditworthiness for small businesses since creditworthiness is an important issue in small business

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Consumer Finance Monitor. CFPB, Federal Agencies, State Agencies, and Attorneys General. Home U.S. Senators urge expedited CFPB action on small business lending data collection rules. in which they urged the CFPB "to expedite its rulemaking around publicly available small business loan.

“It’s been a bipartisan phenomenon. You can go back to the 1980s and say Reagan and George Bush, Sr. got a bubble started. Clinton got in and got an even bigger bubble going. And then George W. Bush.

The Consumer Financial Protection Bureau (CFPB) has filed suit in federal court against Think Finance, a Fintech that leverages its technology to power online lending platforms. Think Finance.

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Home Personal Finance Federal lawsuit says CFPB should collect data on business-loan applications from women and minorities. Federal lawsuit says CFPB should collect data on business-loan applications from women and minorities. May 15, 2019.

Although the no-action letter reveals that the CFPB remains committed to completing its inquiry into the use of alternative data to expand credit, it offers little guidance outside of the contours of Upstart’s platform and Upstart may still have to deal with fair lending issues with the CFPB down the road.

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WASHINGTON, D.C. – Today, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit in a federal district court against a Georgia-based firm, Frederick J. Hanna & Associates, and its three principal partners for operating a debt collection lawsuit mill that uses illegal tactics to intimidate consumers into paying debts they may not owe.

Federal lawsuit says CFPB should collect data on business-loan applications from women and minorities – The 2010 Dodd Frank Act, a federal law passed in the aftermath of the 2008 market collapse, requires lenders to compile information on applications and actions taken on loan requests. The CFPB is.

"Allowing voluntary collection will reduce the burden of compliance with Regulation C on some entities and provide certainty regarding Regulation B compliance over time," the CFPB said. The proposal will be open for public comment for 30 days after it is published in the Federal Register, the bureau said.

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