SBA Advocacy Financial Issues Roundtable

On June 26, 2017, the Office of Advocacy held a financial roundtable. The roundtable focused on the CFPB’s assessment process and issues pertaining to small business lending. Section 1022(d) of the Dodd-Frank Act requires the CFPB to conduct an assessment of each significant rule or order adopted by the CFPB under the federal consumer law and publish a not later than 5 years after the effective date of such rule or order. The participants discussed the impacts that the mortgage servicing rule and the qualified residential mortgage have had on small financial institutions. The CFPB attended and responded to inquiries.