WASHINGTON, Nov. 26 — The California Reinvestment Coalition issued the following news release:
Today, ahead of Small Business Saturday, a coalition of small business owners and community development groups opposed the Trump administration’s attempt to shut down their lawsuit against the Consumer Financial Protection Bureau for unlawfully delaying the implementation of Section 1071 of the Dodd-Frank Act, which requires the agency to collect and disclose data from financial institutions on small business lending practices. Studies show that small businesses–and women-and minority-owned firms in particular–face significant obstacles to obtaining credit. The stalled data collection is critical for enforcing fair lending laws as well as identifying and addressing the barriers small businesses face in accessing credit. The new legal filing was submitted by Democracy Forward on behalf of two small business owners from Waterloo, Iowa and Portland, Oregon; the National Association for Latino Community Asset Builders (NALCAB); and the California Reinvestment Coalition (CRC). Read More.
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