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1071 Small Business Lending Data Collection: What Have We Learned Thus Far?

It’s been about six months since the CFPB dropped its Final Rule for the Small Business Lending Data Collection requirements (Section 1071). Preparing to comply with this Rule will require a lot of planning, training and procedural updates within your institution. You will first need to determine if you are a covered institution and then which of the mandatory compliance dates apply to your institution. The next step is diving into the actual data you will need to collect and report.

OnDemand
Recorded Thursday,
August 31st, 2023
Presented by Jerod Moyer
2h total length
2.5 CRCM Credits
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Commercial/Business Lending
  • Compliance
  • General Compliance
  • Lending
  • Lending Compliance
  • Mortgage Lending
  • Reporting
  • Commercial Lender
  • Compliance Officer
  • Internal Auditor
  • Loan Operations Manager/Specialist
  • Mortgage Lender
  • Small Business Lender

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The CFPB’s Final Rule amends Regulation B to bring Section 1071 of The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) to fruition. The Dodd-Frank Act was passed way back in 2010 and it called for changes to the Equal Credit Opportunity Act (ECOA) with respect to collecting and reporting certain data on small business credit applications, including those that are minority-owned and women-owned. It also calls for safeguarding the data, shielding it from certain persons within the loan process, recordkeeping requirements and more.

Come see what we’ve uncovered in the last six months and let us bring you plain English solutions!

What You'll Learn

  • Does the ECOA Rule Apply to Your Financial Institution?
  • Covered Applications, Transactions & Exclusions in Detail
  • What is a Small Business?
  • Detailed Breakdown of the Required Data
  • Recommendations for Your CMS, Change Management & Action Plan
  • Effective Dates & Mandatory Compliance Dates
  • Your Questions, Plain English Answers & Much More!

Who Should Attend

This webinar is designed for management, loan officers, loan processors, compliance, audit and loan operations personnel.

Jerod Moyer

Instructor Bio

Jerod is the leader of Banker's Compliance Consulting's training productions. He is a nationally recognized speaker. Whether it's a conference, seminar, school, webinar or luncheon, it's easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Banker's Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru.

Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports related!

Continuing Education Credit Information

1071 Small Business Lending Data Collection: What Have We Learned Thus Far? has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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