WASHINGTON, D.C. (RFD-TV) — Agricultural and rural lenders are backing proposed revisions to the Consumer Financial Protection Bureau’s small-business lending data rule, saying a narrower scope could help preserve access to credit in farm-dependent communities. The American Bankers Association, joined by 52 state bankers’ associations, supports scaling back data-collection requirements under Section 1071 of the Dodd-Frank Act, citing concerns about compliance costs and operational strain on community lenders.
The CFPB finalized its original Section 1071 rule in 2023, requiring financial institutions to report detailed data on small-business lending to support fair-lending oversight. That rule prompted lawsuits from banking groups, including the ABA and the Texas Bankers Association, arguing that expanded data mandates exceeded congressional intent and risked discouraging lending by smaller institutions.
Under the revised proposal, the CFPB would limit reporting to core lending products and raise thresholds for covered lenders. Banking groups also support moving the compliance date to January 1, 2028, while seeking added flexibility in determining loan-volume thresholds.
Farm and rural lenders have long warned that broad reporting rules could slow operating, equipment, and land loans by diverting staff time and resources.
Farm-Level Takeaway: A narrower Section 1071 rule could reduce regulatory pressure on ag lenders while keeping credit available in rural communities.
Tony St. James, RFD-TV Markets Specialist
Predator pressure and public lands policy were front and center at CattleCon.
February 06, 2026 04:29 PM
The USDA’s February WASDE report looms as the CME Ag Economy Barometer shows declining farmer confidence, and more ag industry groups calling for swift policy action.
February 06, 2026 04:18 PM
·
Congressman Pete Stauber explains why the repeal of a Biden-era mining ban is good not only for his home state of Minnesota – it’s good for America.
February 06, 2026 03:56 PM
Dr. Peter Beetham, interim CEO of Cibus, joined us to discuss the status of EU gene-editing deregulation and its potential implications for agriculture.
February 06, 2026 12:36 PM
·
Danny Munch of the American Farm Bureau joined us to discuss USDA’s latest farm income forecast, revisions to prior estimates, and what the updated data means for farmers heading into 2026.
February 06, 2026 12:27 PM
·
More flexible export financing could strengthen demand in emerging markets and support higher U.S. agricultural exports.
February 06, 2026 07:00 AM
·
Regulatory uncertainty could slow the growth of fiber and grain hemp unless implementation is delayed.
February 04, 2026 05:00 PM
·
Mexico has fallen behind by several hundred thousand acre-feet in required water deliveries to the United States, a shortfall that has had devastating consequences across the Rio Grande Valley.
February 04, 2026 12:23 PM
·
Modest rate relief may come late in 2026, but borrowing costs are likely to stay elevated.
February 04, 2026 11:23 AM
·
