82 FR 32177 - Request for Information Regarding the Small Business Lending Market; Extension

BUREAU OF CONSUMER FINANCIAL PROTECTION

Federal Register Volume 82, Issue 132 (July 12, 2017)

On May 15, 2017, the Consumer Financial Protection Bureau (CFPB or Bureau) published a Request for Information Regarding the Small Business Lending Market (RFI), which provides that comments must be received on or before July 14, 2017. On May 23, 2017, the Bureau received a letter from thirteen industry trade associations requesting a 60-day comment period extension for this RFI. The additional time is requested in order to develop meaningful responses to the RFI. The Bureau believes the extension will allow all stakeholders the opportunity to provide more robust responses that will further develop the Bureau's understanding of the small business lending market and support its rulemaking process to implement section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). In response to this request, the Bureau has determined that a 60-day extension of the comment period is appropriate.

[Federal Register Volume 82, Number 132 (Wednesday, July 12, 2017)]
[Notices]
[Pages 32177-32178]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-14599]


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BUREAU OF CONSUMER FINANCIAL PROTECTION

[Docket No. CFPB-2017-0011]


Request for Information Regarding the Small Business Lending 
Market; Extension

AGENCY: Bureau of Consumer Financial Protection.

ACTION: Notice; extension of comment period.

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SUMMARY: On May 15, 2017, the Consumer Financial Protection Bureau 
(CFPB or Bureau) published a Request for Information Regarding the 
Small Business Lending Market (RFI), which provides that comments must 
be received on or before July 14, 2017. On May 23, 2017, the Bureau 
received a letter from thirteen industry trade associations requesting 
a 60-day comment period extension for this RFI. The additional time is 
requested in order to develop meaningful responses to the RFI. The 
Bureau believes the extension will allow all stakeholders the 
opportunity to provide more robust responses that will further develop 
the Bureau's understanding of the small

[[Page 32178]]

business lending market and support its rulemaking process to implement 
section 1071 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act (Dodd-Frank Act). In response to this request, the 
Bureau has determined that a 60-day extension of the comment period is 
appropriate.

DATES: The comment period for the Request for Information Regarding the 
Small Business Lending Market, published May 15, 2017, at 82 FR 22318, 
is extended. Responses must now be received on or before September 14, 
2017.

ADDRESSES: You may submit responsive information and other comments, 
identified by Docket No. CFPB-2017-0011, by any of the following 
methods:
     Electronic: Go to http://www.regulations.gov. Follow the 
instructions for submitting comments.
     Email: [email protected]. Include Docket 
No. CFPB-2017-0011 in the subject line of the email.
     Mail: Monica Jackson, Office of the Executive Secretary, 
Consumer Financial Protection Bureau, 1700 G Street NW., Washington, DC 
20552.
     Hand Delivery/Courier: Monica Jackson, Office of the 
Executive Secretary, Consumer Financial Protection Bureau, 1275 First 
Street NE., Washington, DC 20002.
    Instructions: Please note the number associated with any question 
to which you are responding at the top of each response (you are not 
required to answer all questions to receive consideration of your 
comments). The Bureau encourages the early submission of comments. All 
submissions must include the document title and docket number. Because 
paper mail in the Washington, DC area and at the Bureau is subject to 
delay, commenters are encouraged to submit comments electronically. In 
general, all comments received will be posted without change to http://www.regulations.gov. In addition, comments will be available for public 
inspection and copying at 1275 First Street NE., Washington, DC 20002, 
on official business days between the hours of 10 a.m. and 5 p.m. 
Eastern Time. You can make an appointment to inspect the documents by 
telephoning 202-435-7275.
    All submissions, including attachments and other supporting 
materials, will become part of the public record and subject to public 
disclosure. Sensitive personal information, such as account numbers or 
Social Security numbers, or names of other individuals, should not be 
included. Submissions will not be edited to remove any identifying or 
contact information.

FOR FURTHER INFORMATION CONTACT: For general inquiries, submission 
process questions or any additional information, please contact Monica 
Jackson, Office of the Executive Secretary, at 202-435-7275.

SUPPLEMENTARY INFORMATION: On May 15, 2017, the Consumer Financial 
Protection Bureau published a RFI \1\ to learn more about the small 
business lending market. Section 1071 Dodd-Frank Act amends the Equal 
Credit Opportunity Act (ECOA) to require financial institutions to 
compile, maintain, and report information concerning credit 
applications made by women-owned, minority-owned, and small businesses. 
In an effort to inform the Bureau's work on the business lending data 
collection rulemaking to implement section 1071, the Bureau seeks to 
learn more about the small business financing market, including 
understanding more about the products that are offered to small 
businesses, including women-owned and minority-owned small businesses, 
as well as the financial institutions that offer such credit. The 
Bureau also seeks to learn more about the business lending data that 
currently is used and may be maintained by financial institutions in 
connection with credit applications made by small businesses, including 
women-owned and minority-owned small businesses, and the potential 
complexity and cost of small business data collection and reporting. 
The Bureau is also seeking comment from the public on privacy concerns 
related to the disclosure purposes of section 1071.
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    \1\ Request for Information Regarding the Small Business Lending 
Market, 82 FR 22318 (May 15, 2017).
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    On May 23, 2017, the Bureau received a letter from thirteen 
industry trade associations requesting a 60-day comment period 
extension for this RFI. The additional time is requested in order to 
develop meaningful responses to the RFI. The Bureau believes the 
extension will allow all stakeholders the opportunity to provide more 
robust responses that will further develop the Bureau's understanding 
of the small business lending market and support its rulemaking process 
to implement section 1071 of the Dodd-Frank Act. In response to this 
request, the Bureau has determined that a 60-day extension of the 
comment period is appropriate.

    Authority:  12 U.S.C. 5511(c)

    Dated: July 4, 2017.
Richard Cordray,
Director, Bureau of Consumer Financial Protection.
[FR Doc. 2017-14599 Filed 7-11-17; 8:45 am]
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