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CFPB Finalizes New Small Business Data Collection Rule
The banking industry now faces an easier, softer version of a long-anticipated small business data collection rule. The Consumer Financial Protection Bureau finalized a new rule implementing Section 1071 of the 2010 Dodd-Frank Act, roughly a year after rescinding a previous finalized version of the rule on the cusp of its implementation. The new rule significantly narrows the definition of a small business, the scope and volume of covered credit transactions and the data points lenders will be required to collect. Notably, the newer version of the rule raises the threshold of annual loans before a financial institution must comply…
Strange Bedfellows
Rarely do banking trade associations see eye-to-eye with states’ attorneys general. But the Independent Community Bankers of America is invoking a lawsuit brought by the New York Attorney General in arguing against the crypto exchange run by Coinbase Global. In a May 2026 letter to the Office of the Comptroller of the Currency, the ICBA cited New York’s allegations that Coinbase illegally ran a gambling operation as proof “that Coinbase Global does not have the internal controls or corporate culture necessary for safe and sound banking.” The banking regulator granted conditional approval of a national trust charter to Coinbase in…
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WRITTEN BY
Laura Alix
Director of Research
Laura Alix is the Director of Research at Bank Director, where she collaborates on strategic research for bank directors and senior executives, including Bank Director’s annual surveys. She also writes for BankDirector.com and edits online video content. Laura is particularly interested in workforce management and retention strategies, environmental, social and governance issues, and fraud. She has previously covered national and regional banks for American Banker and community banks and credit unions for Banker & Tradesman. Based in Boston, she has a bachelor’s degree from the University of Connecticut and a master’s degree from CUNY Brooklyn College.