CRL, AFR, and NCRC Blast Senate Democrats For Betraying Small Business Owners With Vote To Rescind Section 1071
Five Democratic Senators betrayed small business owners Wednesday by voting with Republicans to rescind recently finalized small business lending data rules known as Section 1071, leading consumer advocacy groups said. From Center for Responsible Lending (CRL) President Mike Calhoun: “We strongly oppose the Senate’s CRA bill and urge the House to support the small businesses that power the nation’s economy, including minority and women-owned businesses. We also urge President Biden to veto the CRA bill if it reaches his desk. A robust 1071 rule is crucial. It will spur entrepreneurship in