In a recent brief filed in a case in California’s Northern District, the Consumer Financial Protection Bureau laid out what it considered a reasonable timeline for promulgating a Dodd Frank-mandated rule concerning the collection of small business lending data.
In its reply brief, the CFPB said it could have its first pre-rule activity by November 2020.
However, the brief suggests the path from the release of the outline through finalization of the rule and its effective date could take until 2025.
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