CFPB Urged to Extend Small Biz Loan Rule Stay to All Banks
The Consumer Financial Protection Bureau is facing calls from the banking industry to put the small-business loan data collection rule on hold for all insured banks—not just those covered by a recent injunction in federal court in Texas. Alan Kaplinsky, senior counsel in our Consumer Financial Services Group and former longtime Group leader, explained for Law360 why the situation is "fraught with problems" unless the stay gets extended to other banks beyond the Texas case.
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