Topic: Business Loans and Member Business Loans
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CFPB revamps small business lending data collection rule
ANALYSIS: The Consumer Financial Protection Bureau (CFPB) has issued a final rule, overhauling many parts of its small business lending data collection rule. Significantly: Fewer credit unions will be subject to the […]
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League offers new MBL sample policy
NEWS: The League has updated its ii Release No. B027 – “Business Loans” – to add a new member business loan (MBL) sample policy. Wisconsin state-chartered credit unions can consider using the sample […]
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CFPB proposes changes to small business lending rule
COMMENT CALL: The CFPB is proposing to revise its small business lending rule under the Equal Credit Opportunity Act (Reg. B). The changes would narrow the scope of data to be collected and […]
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League works with DFI Chief Legal Counsel to clarify amended MBL rules
ANALYSIS: The state’s amended member business loan (MBL) rules took effect on June 1. The amendments introduced a new MBL definition and significantly expanded the list of loan types that are […]
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Free League webinar tomorrow on WI’s amended member business loan rules
NEWS: Wisconsin’s amended member business loan (MBL) rules took effect on June 1. The amendments introduced a new MBL definition and significantly expanded the list of loan types that are exempt from that […]
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CFPB extends compliance deadlines for small business lending data collection
NEWS: The CFPB has issued an interim final rule, amending its small business lending rule under the Equal Credit Opportunity Act (Reg. B) to extend the compliance dates until 2027-28. The change should […]
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CFPB halts enforcement of small business lending rule
NEWS: The CFPB has announced in a press release that it “will not prioritize enforcement or supervision” of its small business lending data collection rule. The rule, which implements Section 1071 of the […]
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Changes to state MBL definition will take effect June 1
NEWS: Gov. Evers has approved long-awaited changes to Wisconsin’s member business loan (MBL) rules for state-chartered credit unions. The new rules, which are scheduled to take effect on June 1, provide a new […]
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CFPB plans changes to small business lending rule
NEWS: According to a recent court filing, the Consumer Financial Protection Bureau (CFPB) plans to start a new rulemaking process to revise its small business lending rule. The rule, which implements […]
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CFPB is offering a beta testing platform for small business lending data collection
NEWS: The CFPB has announced the availability of the beta platform for its small business lending data collection rule. Background As we explain in The League’s ii Release No. B083, the CFPB’s […]