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CFPB agrees to move on 1071 rulemaking
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Consumer Protection
Thursday, March 5, 2020
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The Consumer Financial Protection Bureau has reached a settlement with Democracy Forward and Hagens Berman Sobol Shapiro LLP in a lawsuit challenging the bureau’s inaction on promulgating rulemaking surrounding small-business lending data collection.
The settlement will require public release of proposal outlines by September 2020, along with court-mandated status reports every 90 days on rulemaking progress.
Read on for more details of the settlement surrounding small-business lending data collection.
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