CFPB director: Small business lending should mirror mortgage regulations

CFPB Director Richard Cordray announced the first step towards new regulation at the Small Business Lending Hearing in Los Angeles. He explained there is a lack of accessible credit for small business owners, and plans to create new regulation that would require lenders to report more info regarding their lending habits to small businesses. In the meantime, he calls upon lenders to respond to the CFPB’s request for information.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s