On May 1, 2026, the CFPB finalized a revised Section 1071 rule under ECOA, narrowing covered institutions, products, and required data points from the 2023 Rule, with a single compliance date of Jan. 1, 2028. Financial institutions may wish to begin assessing coverage status and compliance readiness.
Continue Reading CFPB Final Rule Narrows Small Business Lending Data Collection Requirements
The CFPB’s final amendments to Regulation B reshape fair lending compliance under ECOA, including changes to disparate impact liability, anti-discouragement standards, and SPCP requirements. Lenders may wish to assess the rule’s operational impact while preparing for potential litigation and state-level enforcement risks.
On Oct. 29, 2025, the Consumer Financial Protection Bureau (CFPB) withdrew its proposed rule that would have required certain nonbank financial companies subject to its supervisory jurisdiction to submit annual reports about their use of terms and conditions that attempt to waive or limit consumer rights and protections.