CFPB Hosts Business HMDA Symposium
Section 1071 of Dodd-Frank calls for financial institutions to collect and report on women-owned, minority-owned, and small business credit applications. On the one hand, there is a concern that such reporting might actually discourage financial institutions from offering such credit. On the other hand, there is a concern that the CFPB isn't fulfilling the congressional mandate to collect such data. So the CFPB held a symposium to explore what to do about those two hands. [11/8/19]
