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AP National Business

Gov’t to start looking for bias in small business lending

KION
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Published 10:38 AM

By KEN SWEET
AP Business Writer

NEW YORK (AP) — Banks will need to start reporting the demographics and income of small business loan applicants under new rules published by the Consumer Financial Protection Bureau on Thursday.It’s a move that policymakers hope will lead to less discrimination and more transparency in the small business lending market in a similar way other laws have regulated the residential mortgage market for decades.

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