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CFPB files second status report with court regarding area 1071 implementation

The CFPB has filed its 2nd status report utilizing the Ca federal region court as required by the Stipulated Settlement Agreement when you look at the lawsuit filed from the Bureau in May 2019 alleging wrongful wait in adopting laws to implement Section 1071 associated with Dodd-Frank Act.

Part 1071 here amended the ECOA to require banking institutions to get and report particular data relating to credit applications produced by women- or minority-owned companies and businesses that are small. Continue reading

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