CFPB Launches Dedicated Regulatory and Technical Support Program to Help Financial Institutions Implement and Comply with 1071 Final Rules.

Last week, the CFPB issued the small business lending rule. You can read the rule on the CFPB website. To help financial institutions implement and comply with the small business lending rule, the CFPB is launching a dedicated regulatory and technical support program called SBL Help. SBL Help can provide oral and written assistance to financial institutions about their data collection and reporting obligations under the final rule.

You can submit your questions to SBL Help here: https://sblhelp.consumerfinance.gov/.

SBL Help is the latest resource f7rom the CFPB to help financial institutions implement and comply with the small business lending final rule. As announced last week, the CFPB published a small business lending implementation and guidance webpage, which contains several regulatory implementation resources about the final rule, and a small business lending data webpage, which contains several technical resources about submitting small business lending data to the CFPB.

The CFPB plans to publish additional resources to help financial institutions implement and comply with the small business lending final rule. The CFPB has published a video that introduces the types of implementation and compliance support it provides and the timeline these materials are typically released. 

You can watch the Introduction to Regulatory Implementation and Guidance video here: https://www.youtube.com/watch?v=cKc_BBxqOwM.