A provision of the 2010 Dodd-Frank law aimed at fair lending for minority and women-owned small businesses is unlikely to move forward, according to several people with knowledge of the matter.
Banks and other small-business lenders have sometimes balked at the requirement the law sets for them to collect information.
Yet Scott Astrada, director of federal advocacy for the Center for Responsible Lending, argued that fulfilling the rule wouldn’t be burdensome to banks and nonbank lenders, which he says already collect much of the information.