Game Plan for 1071 Rules
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.
