On May 1, 2026, the CFPB published a sweeping Final Rule (the Final Rule or 2026 Final Rule) amending Subpart B of Regulation B, which implements the ECOA. ECOA broadly prohibits discrimination in any aspect of a credit transaction on the basis of race, color, religion, national origin, sex, marital status, age (provided the applicant has the capacity to contract), receipt of public assistance income, or the good-faith exercise of rights under the Consumer Credit Protection Act. The Final Rule implements Section 1071 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which directs the Bureau to require financial institutions to collect and report certain data on applications for credit from small businesses, women-owned businesses, and minority-owned businesses to the CFPB. The Final Rule takes effect June 30, 2026, with a single compliance date of Jan. 1, 2028, for all covered financial institutions.
CFPB Final Rule Narrows Small Business Lending Data Collection Requirements
