The HUD released guidance related to the reconsideration of data collection on small business lending under the Dodd-Frank Act. Comments are encouraged to enhance transparency and fair lending.
What changed
Proposed changes to how small business data will be collected and reported.
Compliance perspective
Stakeholders must prepare for new data collection requirements which will be mandatory after final approval.
Need help keeping up with these changes?
Tell us where you operate and what licenses you hold; we'll handle the filings and renewals so changes like this do not catch you off guard.