Senators Press CFPB for Small-Business Loan Data

Senators Press CFPB for Small-Business Loan Data

nerdwallet.com – Senate Democrats want rules in place to collect and make publicly available data on small-business loans.

If you’re a small-business owner, especially one based in a low-income or underserved community, this data could help you find financing.

The initiative was unveiled last week, when 19 Democratic senators urged the Consumer Financial Protection Bureau to accelerate drafting guidelines for collecting and disclosing small-business lending data in accordance with the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.