The Consumer Financial Protection Bureau (CFPB) issued an interim final rule to extend compliance deadlines for the small business lending rule. The recent interim final rule follows the recent Supreme Court decision in CFPB v. CFSA. read more

JUN 28, 2024 - 6:22 am

In a letter to the Consumer Financial Protection Bureau, the Equipment Leasing and Finance Association asked the bureau to expand a recently issued injunction staying the effective dates of Section 1071 of the Dodd-Frank Act to include all affected financial institutions.  read more

AUG 10, 2023 - 7:07 am

The Consumer Financial Protection Bureau finalized the rule to implement changes made by Section 1071 of the Dodd-Frank Act that requires lenders to collect and report information about small business credit applications. read more

MAR 31, 2023 - 6:47 am

In response to the Consumer Financial Protection Bureau’s proposals regarding Section 1071 of the Dodd-Frank Act, the Equipment Leasing and Finance Association took a three-step approach, including attempting to gain meaningful exemptions. read more

DEC 18, 2020 - 6:53 am

The ELFA encouraged association members to participate in a survey from the CFPB that will examine the potential one-time costs associated with complying with Section 1071 of the Dodd Frank Act. read more

JUL 29, 2020 - 7:11 am

The Fed, FDIC, NCUA, OCC, CFPB and state banking regulators issued an interagency statement for financial institutions working with borrowers affected by the coronavirus. FASB concurs with the approach. read more

MAR 23, 2020 - 7:00 am

The Consumer Financial Protection Bureau fined Wells Fargo $100 million for the illegal practice of secretly opening unauthorized accounts. The CFPB said the bank would also pay additional penalties of $35 million and $50 million to the OCC and the City of Los Angeles, respectively.    read more

SEP 9, 2016 - 6:50 am