On April 16, the CFPB submitted a final rule titled “Small Business Lending Data Collection Under the Equal Credit Opportunity Act Reconsideration” (RIN 3170-AB40) to the OMB’s Office of Information and Regulatory Affairs (OIRA) for review under Executive Order 12866 (as amended). The submission follows the Bureau’s November 2025 proposed rule to revise certain provisions of its 2023 final rule implementing Section 1071 of the Dodd-Frank Act, which amends the ECOA to require financial institutions to collect and report data on credit applications from small businesses, including women-owned and minority-owned businesses. As previously covered by InfoBytes, the reconsideration rule, as proposed, would narrow the rule’s scope by excluding merchant cash advances, agricultural lending, and small dollar loans; raise the origination threshold from 100 to 1,000 covered credit transactions; lower the small business revenue definition from $5 million to $1 million; reduce the number of data points that must be collected; and extend the compliance date to January 1, 2028.