1071 Rule FAQs: Are You IN or OUT in 2025?

January 30, 2025

Compliance Directors Lending Senior Management

Live Webinar:

DateJan 30, 2025Duration60 minutes

12:00 PM PST01:00 PM MST

02:00 PM CST03:00 PM EST

Unlimited connections for your institution
Available on desktop, mobile & tablet
Take-away toolkit
Presenter’s contact info for questions

On-Demand Webinar:

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

See Registration Options

Section 1071 of the Dodd-Frank Act requires creditors to determine if a business is a small business, minority-owned, or women-owned.

Do you know if your organization is covered by the rules? When does data collection start? What are covered credit transactions? What is a small business? What is the “firewall” and how is access to information restricted? What is the record-retention requirement? This timely webinar will answer these frequently asked questions and more.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Determine if your financial institution is covered by the rules and when data collection must begin
Compare the current procedures for small business loan applications to the potential sweeping changes required by the rules
Understand the criteria to identify the number of small business originations for the two preceding calendar years
Use the materials to develop a game plan for implementation
Identify the elements for writing 1071 policies and procedures

WEBINAR DETAILS

The CFPB’s Section 1071 rules for small business lending data collection are the most extensive effort to gather loan application information in almost 50 years. Early preparation and planning can save time, money, and headaches. Join us to learn what data should be included in a gap analysis to determine the scope of impact.

WHO SHOULD ATTEND?

This informative session is designed for senior management, directors, chief credit officers, commercial lenders, loan administration staff, compliance officers, risk managers, and fair lending officers.

TAKE-AWAY TOOLKIT

Gap analysis template to quantify the current loan process and potential fair lending red flags for underwriting, pricing, fees, and conditional requests
Chart to help report the correct denial reasons for 1071 applications
Coverage flowchart to determine coverage under 1071 rules
CFPB resources for the 1071 rules
Training plan template
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.

Presented By

Susan Costonis

Compliance Training & Consulting for Financial Institutions

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