Small Business Lending Rule (1071): Data Points

The Small Business Lending Rule (Section 1071 of the Dodd Frank Act) requires financial institutions collect and report to the CFPB certain data regarding applications for credit for women-owned, minority-owned, and small businesses. Covered financial institutions are required to collect and report to the CFPB over 37 different items on applicable small business loan applications. This course discusses the details of the required data points.