Kentucky Judge Expands Block on CFPB Small Business Data Rule

A federal judge in Kentucky blocked enforcement of the Consumer Financial Protection Bureau’s small business data collection rule nationwide, expanding an injunction that had previously applied only to most banks.

Judge Karen K. Caldwell of the US District Court for the Eastern District of Kentucky’s Sept. 14 order blocks the CFPB from enforcing deadlines for complying with the small business data collection rule until after the US Supreme Court determines whether the agency’s independent funding mechanism is constitutional. The rule applies to banks, fintechs, and others that make at least 100 loans to small businesses each year.

The decision adds ...