The CFPB's final Section 1071 rule (published May 1, 2026, effective June 30, 2026) raises the 'covered institution' threshold tenfold from 100 to 1,000 originations a year and narrows the 'small business' definition to $1M or less in revenue. Data points drop back to 13, with a compliance date of Jan 1, 2028.
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CFPB slims small-business lending data rule: threshold jumps to 1,000 loans
Why this matters for founders
Founders who borrow will face fewer intrusive data-collection questions from small lenders, and startups that lend to businesses are far more likely to fall below the reporting threshold—reassess whether 1071 still applies to you.
Source: Greenberg Traurig
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