SBA comment letter asks CFPB to reconsider payday rules

SBA comment letterOn October 7, the Small Business Administration’s Office of Advocacy submitted its comment letter on the CFPB’s short-term, small-dollar loan proposal. A copy of the SBA comment letter is available here.

The Office of Advocacy (Advocacy) was established to act as a voice for small businesses in the rulemaking process. In its comment letter, the Advocacy noted that the Small Business Jobs Act of 2010 “requires agencies to give every appropriate consideration to comments provided by Advocacy.”