Small Business Committee Requests a Briefing about Recent CFPB Rulemaking Actions
WASHINGTON – House Small Business Committee Chairman Steve Chabot (R-OH) sent a letter yesterday to the Honorable Richard Cordray, Director of the Consumer Financial Protection Bureau (CFPB), requesting a briefing on the CFPB’s recent rulemaking actions.
“Small business owners frequently raise concerns to the Committee about the challenges of access to capital and how it prohibits job creation and business expansion. As Congress looks for ways to create an environment for small businesses to flourish, the Committee is wary of increased reporting requirements and onerous regulations, which acutely impact small businesses,” said House Small Business Committee Chairman Steve Chabot (R-OH).
In light of concerns that CFPB’s actions may be harming small businesses, the Committee is seeking details about CFPB’s request for information regarding Section 1071 of the Dodd-Frank Act as well as the manner in which CFPB conducted certain Small Business Regulatory Enforcement Fairness Act (SBREFA) panels.The full text of the letter can be found