Game Plan for 1071 Rules
December 17, 2024
Live Webinar:
DateDec 17, 2024Duration60 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
The Section 1071 rules have ventured down a long and winding road to finalization.
Do you know whether the rules
will apply to your financial institution? What data will be required? When will
reporting begin? What qualifies as a “small business”? This timely webinar will
distill 888 pages of regulations into the high points you need to know in only
60 minutes!
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Determine if the new Section 1071 rules apply to your financial institution and when collection and reporting will be required
- Understand the types of applications that will be covered and the details for exclusions
- Define the types and sizes of “small businesses” covered by the rules
- Explain the data collection requirements to employees and small businesses
- Develop a game plan based on the effective date and mandatory compliance date
WEBINAR DETAILS
The new Section 1071
rules will require lenders to collect and report data on small business loan
applications, including those of minority- and women-owned small businesses. This
final rule is a “heavy read” at 888 pages. Since there is no “model” application form
for small business loans, how will collecting information change? Does the
current loan application system have the capacity to capture the required
information? Attend this overview to
determine if the rule applies to your financial institution and when the
mandatory compliance date kicks in.
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
- Template for a “gap analysis” to quantify the current loan process and potential fair lending red flags for underwriting, pricing, fees, and conditional requests
- Training plan template
- CFPB tools, including an executive summary, FAQs, compliance date info sheet, and data points chart
- 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
Compliance Training & Consulting for Financial Institutions
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC