CFPB Issues Final Section 1071 Rule on Small Business Lending Data Collection

On May 1, 2026, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) issued its final rule substantially revising subpart B of Regulation B, which implements section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) (the “Final Rule”). This rule requires lenders to collect and report data on their lending activities to women-owned, minority-owned, and small businesses.... By: Mayer Brown