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In today's episode of the Consumer Finance Monitor Podcast, we are pleased to present an audio version of the webinar we conducted on May 27, 2026 examining the CFPB's revised final rule and its practical implications for banks, credit unions, FinTech companies, and other providers of small business credit.
During this comprehensive discussion, our host, Alan Kaplinsky (founder, former Practice Group Leader for 25 years and now Senior Counsel of the Consumer Financial Services Group) was joined by his Ballard Spahr colleagues Richard Andreano and John Culhane, along with two distinguished guest panelists: Bradley Blower, Principal and Founder of Inclusive-Partners, LLC, and Louis Caditz-Peck, Executive Director of the Responsible Business Lending Coalition.
Key Topics Discussed:
· The most significant differences between the CFPB's original 2023 Section 1071 rule and the revised 2026 final rule.
· Why the Bureau substantially increased the institutional coverage threshold from 100 to 1,000 covered originations.
· The practical implications of narrowing the definition of a "small business," reducing the required data points, and excluding merchant cash advances and agricultural loans from coverage.
· Whether the revised rule still fulfills Congress's objectives of promoting fair lending and improving transparency in the small business lending market.
· The operational and technology challenges lenders should begin addressing now—even though compliance is not required until January 1, 2028.
· How institutions can use Section 1071 data not only for compliance but also as a competitive business intelligence tool.
· The potential fair lending, supervisory, and reputational risks created by the public availability of Section 1071 data.
· The current status of litigation challenging the original Section 1071 rule and whether additional lawsuits challenging the revised rule are likely.
· Predictions regarding how the rule may evolve over time, including whether future administrations could expand its scope in a manner similar to the evolution of HMDA reporting.
Whether your institution expects to be covered by the revised rule or not, this discussion provides valuable insight into the future direction of small business lending regulation and offers practical guidance on how lenders should prepare now for the compliance, operational, and strategic issues that lie ahead.
Consumer Finance Monitor is hosted by Alan Kaplinsky, Senior Counsel at Ballard Spahr, and the founder and former chair of the firm's Consumer Financial Services Group. We encourage listeners to subscribe to the podcast on their preferred platform for weekly insights into developments in the consumer finance industry.
