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NAFCU, through a Regulatory Alert published Wednesday, is asking members for their input by June 25 on the CFPB's request for information on the small-business lending marketplace.

NAFCU will use members' feedback in preparing its own comment letter on the CFPB's request for information on the marketplace, including what financial institutions are lending to small businesses and what products are offered. Comments are due to the bureau July 14.

The CFPB first discussed the request in conjunction with its field hearing on the subject in Los Angeles last week. The bureau is preparing for future rulemaking mandated by the Dodd-Frank Act on the issue.

Section 1071 of the Dodd-Frank Act would require financial institutions to collect and report information – whether the business is a small business and women- or minority-owned – and give this information to the CFPB using systems similar to those used to collection information for the Home Mortgage Disclosure Act rule.

NAFCU wrote to the CFPB in advance of the hearing to emphasize credit unions' uniqueness and their limited authority for member business lending, and to urge exemption for credit unions from any related, future CFPB rulemaking.

The CFPB also issued a white paper on "key dimensions" of the small business lending market.

NAFCU staff will meet with CFPB staff to discuss small business lending issues on May 30. NAFCU has previously expressed concerns about the regulatory burden on credit unions relating to small business lending issues.