CFPB Extends Small Business Lending Rule Compliance Dates

The CFPB recently extended the compliance dates for its small business lending rule (the Rule).  WBK previously wrote about the Rule here and here.

The new compliance dates vary by the tier of institution.  Tier 1 institutions (institutions that originated at least 2,500 covered credit transactions for small businesses in each of 2022 and 2023) now must comply with the Rule by July 18, 2025, with a first filing deadline of June 1, 2026. 

Tier 2 institutions (institutions that originated at least 500 covered credit transactions for small businesses in each of 2022 and 2023) now must comply with the Rule by January 16, 2026, with a first filing deadline of June 1, 2027. 

Tier 3 institutions (institutions that originated at least 100 covered credit transactions for small businesses in each of 2022 and 2023) now must comply with the Rule by October 18, 2026, with a first filing deadline of June 1, 2027.