After more than ten years and extended litigation to compel rulemaking, on March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued the final rule which implements the small business lending data collection requirements set forth in section 1071 of the Dodd-Frank Act (Section 1071).  The final rule, together with the comments, is just under nine hundred pages.[1]  Broadly presented, the final rule can be broken down into a series of questions to be answered.  First, are the lender, the borrower and the transaction covered by the rule?  Second, what information must be collected and reported?  Third, how is the information reported?  Fourth, when does the rule take effect?

We’ve all heard the phrase “The Great Resignation” over the past few months. Angela Fiorentino of AmeriFactors Financial Group and a member of SFNet’s Women in Secured Finance Committee gathered several top female executives to discuss the best way to communicate your professional goals and hold some of those “tough conversations” in this current climate.