Public Comment Public Comment on Section 1071 Small Business Lending Data Collection; Docket No. CFPB-2021-0015
Brett Theodos
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Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 requires the Consumer Financial Protection Bureau (CFPB) to enhance publicly available small business data. Currently, a lack of a comprehensive database on lending has made it difficult for stakeholders to remove barriers to equitable lending for women- and minority-owned small businesses. We provide suggestions to the CFPB to require the collection and public dissemination of a database detailed enough to meaningfully achieve the fair lending and community development statutory purposes of Section 1071.

Research Areas Economic mobility and inequality
Tags Community and economic development Finance Small businesses
Policy Centers Metropolitan Housing and Communities Policy Center