2027 Cards Lending Security 
Abrigo
MAY 30, 2023
Final rule Effective dates & compliance dates for rule 1071 As they do with any new requirement, financial institutions want to know when the CFPB 1071 rule is effective and when they must begin collecting and reporting data on their small business lending activities. This 2026 data needs to be reported to the CFPB by June 1, 2027.
South State Correspondent
MAY 13, 2024
More states require greater disclosure and control over what banks and card processors can charge. The rule would require disclosure of interest rates and fees on overdraft loans, thus closing the current loophole in overdraft loans from the Truth in Lending Act. It is likely that regulators will soon ask banks to come up with a plan.
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