WASHINGTON—The CFPB has launched the Small Business Lending (SBL) Help regulatory and technical support program.
According to the Bureau, the program is designed to provide oral and written assistance to financial institutions about their data collection and reporting obligations under the bureau’s recently finalized small business lending rule.
Credit unions can submit questions via the SBL Help form. Responses can be expected in 24-48 hours during normal business hours. However, the Bureau notes additional time may be required occasionally, NAFCU noted.
The CFPB finalized its rule implementing section 1071 of the Dodd-Frank Act, related to small business lending data collection last week.
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