The February 2022 Aite-Novarica Group report on Section 1071 and SMB Lending examines the operational impacts of proposed CFPB regulations requiring lenders to collect and report detailed small business credit application data, including demographic information. It outlines the rule’s origins, political and legal context, scope, and data requirements, along with planned public disclosure of datasets. The study analyzes effects on lender behavior, training, culture, and technology, emphasizing the need for robust data management and compliance processes to meet regulatory demands while maintaining efficiency and supporting fair lending practices.

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