CFPB Explores Ways to Assess the Availability of Credit for Small Business

Consumer Financial Protection Bureau press release May 10, 2017 ------- The Consumer Financial Protection Bureau launched an inquiry into ways to gather and use new and existing information to identify the financing needs of small businesses, especially those owned by women and minorities. Small businesses typically need access to credit to take advantage of growth opportunities, yet public information on this lending market is inconsistent and incomplete. The Request for Information asks for public feedback to help the Bureau better understand how to bridge this information gap. The Dodd-Frank Wall Street Reform and Consumer Protection Act requires the CFPB to collect data about small business lending to help identify needs and opportunities in the market and to facilitate enforcement of fair lending laws. To get more in depth information click on the picture below to read the release.