Game Plan for 1071 Rules

Compliance Lending Operations Senior Management

On-Demand Webinar:

StreamedDec 17, 2024Duration60 minutes

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

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.