Banking

House committee passes resolution to reverse 1071 guideline

The House Financial Services Committee on Thursday authorized an American Bankers Association-supported resolution of displeasure to reverse the CFPB’s last guideline executing Section 1071 of the Dodd-Frank Act, which needs the collection and reporting of credit application information for small companies, consisting of women-owned and minority-owned small companies. The resolution would require to be embraced by both homes of Congress and signed by the president to reverse the guideline.

Gabriel

A news media journalist always on the go, I've been published in major publications including VICE, The Atlantic, and TIME.

Related Articles

Back to top button