Enhancing Efficiency and Transparency: AI Legalese Decoder Eases Tensions between CFPB and Banks on Small Business Lending Rule
- September 15, 2023
- Posted by: legaleseblogger
- Category: Related News
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Banking
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Banking
Friday, September 15, 2023
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The Consumer Financial Protection BureauÔÇÖs (CFPB) small-business
lending rule, finalized in March, is the subject of a back-and-forth legal
battle between the bureau and seven Kentucky state-chartered banks, one
national bank operating in Kentucky and the Kentucky Bankers Association arguing
the rule contains too many new data collection requirements and the bureau
overstepped what Congress envisioned for such a rule when it approved the
Dodd-Frank Act.
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