CFPBFinal Rule
Small Business Lending under the Equal Credit Opportunity Act (Regulation B); Extension of Compliance Dates
Finance & BankingLabor & Workplace
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Summary
The Consumer Financial Protection Bureau is giving banks and lenders more time to follow new rules about fair lending practices for small business loans. These rules are designed to prevent discrimination based on factors like race, gender, or national origin when businesses apply for credit.
Key Points
- 1The CFPB extended the deadline for lenders to comply with updated fair lending requirements under the Equal Credit Opportunity Act
- 2Small business owners applying for loans are protected from discrimination in lending decisions and loan terms
- 3Banks and financial institutions now have additional time to update their systems and practices to track and report lending data properly
- 4The rule applies to lenders of all sizes and affects how they evaluate small business loan applications
- 5This helps ensure that small business owners get fair treatment regardless of their personal characteristics
Key Dates
Published
October 2, 2025
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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