1071 Small Business Data Collection and Submission: Where Are We Now?

The CFPB finally issued its Final Rule on Small Business Lending Data Collection. But wait, didn’t a federal judge halt its implementation? Lenders should not take this as a sign that the rule is going away! In this webinar, learn how you can use the extra time to develop an effective implementation plan.

The Final Rule on Small Business Lending Data Collection will require lenders to collect and submit to data on small business loan applications by June 1st of each year. In this webinar, we’ll dive deep into the rule, so you can zero in on which areas of the institution are affected by the requirements. We’ll also examine the many data requirements – what they mean, how they’re defined, how to collect them, and ultimately submit them. This rule will have a heavy load on the technology and automation functions of the institution, and we’ll discuss some best practices in this area.

We’ll also talk about what this data means from a fair lending standpoint, including the public nature of the information and some suggestions for fair lending analytics, as well as policy and procedure impacts. Join us for this in-depth discussion of the rule so you can best prepare for implementation, operationally, technologically and culturally.

What You’ll Learn

• Current status of the rule – who is affected and what can we look forward to?
• The Final Rule – finding helpful resources for compliance
• Coverage thresholds and timing requirements, including the transitional provision
• Interplay between this rule, HMDA, and CRA reporting requirements
• Collecting demographic information – forms, verifications, policies, procedures
• Technology implications of submission requirements
• Firewall requirement and preventing improper access to the data
• Safe harbor and bona fide errors provisions
• CFPB’s policy guidance on supervisory and enforcement activities

1071 Small Business Data Collection and Submission: Where Are We Now? has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for Live attendance only. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

Who Should Attend?

Anyone involved in small business lending, particularly the application part of the process, including commercial lenders, processors, front-line staff, commercial lending support staff, as well as compliance professionals, auditors, risk managers and officers, line of business managers, and executive management and directors, would benefit from understanding the requirements of this extensive new rule.

Presenter

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Managing Director for Treliant Risk Advisors in Washington, D.C. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Registration Options

Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $299

• Available Upgrades:
  • 12 Months OnDemand Playback + $120
  • 12 Months OnDemand Playback + Digital Download + $150
  • Additional Live Access + $95 per person