My Profile   |   Contact Us   |   Sign In   |   Register
News & Press: WIPP Legislative Updates

Senator Calls for Collection of Small Business Lending Data

Monday, June 15, 2015  
Share |

 

June 8 Policy Briefing


Senator Calls for Collection of Small Business Lending Data


Circulating a letter for Senate signatures, Senator Cory Booker (D-NJ) is calling on the Consumer Financial Protection Bureau (CFPB) to implement Section 1071 of the Dodd-Frank law.  The law requires banks to report information on loans to better identify needs for capital.  In his letter, Senator Booker states:


“Analyzing access to credit and removing barriers is imperative when considering the significant role of small business on job creation and the plummeting of small business lending since the Great Recession. Current data collection efforts are fragmentary and provide an incomplete picture of lending in the small business marketplace. Section 1071 mandates the CFPB to centralize this data collection to make it easier for financial institutions to report it and the general public to use it.”  


It is important to note that no personal loan information would be shared, but the data collection would give private and public lenders and small businesses a much-needed lens on lending.


more Calendar

12/6/2016
WIPP Procurement Committee Meeting

12/6/2016
2016 PG&E Boots to Business Workshop

12/8/2016
ChallengeHER Dallas/Ft.Worth Metro

12/14/2016
ChallengeHER Washington D.C.

12/14/2016
Give Me 5: GSA Special Unit - Demystifying the Price Reduction Clause

Featured Members
Janice HamiltonNational Partner of the Month: December 2016. Read about Janice's business bit.ly/2fTPwBF

Privacy Policy / Disclaimer    |    © WIPP  |    888-488-WIPP

Association Management Software Powered by YourMembership  ::  Legal