Kennedy, colleagues urge CFPB to pause unfair small business data collection rule ...Middle East

MADISONVILLE, La. – Sen. John Kennedy (R-La.), a member of the Senate Banking Committee, led senators in urging the Biden administration’s Consumer Financial Protection Bureau (CFPB) to pause the effective date of the Dodd Frank Section 1071 small business data collection rule. The rule would require banks to collect sensitive personal data on small business owners when they seek a loan. Sens. Cynthia Lummis (R-Wyo.), Thom Tillis (R-N.C.), Steve Daines (R-Mont.), Bill Hagerty (R-Tenn.), J.D. Vance (R-Ohio), Mike Crapo (R-Idaho) and Kevin Cramer (R-N.D.) also signed the letter. “At your agency’s request, a recent ruling in the U.S. District Court has created a situation where only some len

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Kennedy, colleagues urge CFPB to pause unfair small business data collection rule ...Middle East

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