Small Business Majority submits comments in response to CFPB’s decision to further delay implementation of Sec. 1071

On July 2, Small Business Majority submitted comments in response to the Consumer Financial Protection Bureau’s (CFPB) interim final rule to further extend compliance dates set forth in the small business lending data collection rule required under Section 1071 of the Dodd-Frank Act. Under the interim final rule, the collection of critical small business lending data by financial institutions will be further delayed until July 1, 2026.