WASHINGTON—The CFPB's advisory councils will meet in Washington March 11-12 to discuss various efforts currently underway at the Bureau, including small business lending data collection, preventing elder financial fraud, and more.
On Wednesday, March 11, the advisory councils will meet separately. CUAC will tackle small business lending data collection, the student lending market, and credit access in rural communities, NAFCU reported.
On small business data collection, the Bureau is currently working to assess compliance costs that would be incurred under Section 1071 of the Dodd-Frank Act, which remains unimplemented and requires collection of small business lending information.
On Thursday, March 12, the councils will meet collectively and hear from bureau Director Kathy Kraninger and a Bureau taskforce. In addition, the councils will discuss elder fraud prevention, consumer-authorized access to financial account data (which the Bureau held a symposium on this week), and its recently updated time-barred debt proposal.