CFPB Launches Beta for Testing Small Business Lending Data Collection Rule Submissions

Adam Witmer
Regulatory Update

On August 26, 2024, the CFPB launched the beta platform for financial institutions to test data submissions under the small business lending data collection rule  pursuant to section 1071 of the Dodd-Frank Act. The CFPB invites the participation of financial institutions and their technology partners to test the beta platform and share feedback with the CFPB on their experience.

The CFPB clarified that the beta platform is for testing purposes only and data submitted on the beta platform will not be considered for compliance with small business lending data reporting requirements. The beta for the Small Business Lending Data Filing Platform can be accessed through https://sbl-beta.cfpb.gov/ and feedback should be sent to SBLHelp@cfpb.gov. The CFPB said that feedback from users will help the agency identify areas for potential enhancement and improve the data filing process. 

The instructions on how to register with the beta platform can be found here.

Adam Witmer
Regulatory Update
Adam Witmer

Adam Witmer is a speaker, author, and founder of the Compliance Cohort. Adam has taught hundreds of seminars and training sessions to thousands of bankers throughout the United States and teaches on all areas of regulatory compliance. Adam has written five e-books that he never published, hit a grizzly bear while driving in a National Park, and is an award winning photographer and musician (though he no longer takes photos nor plays any instruments). In his spare time, Adam can be found kayaking on the lake, doing taekwondo with his kids, working on his (project) house, or spending time with his family.

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