Stay ahead of the latest regulatory changes impacting small business lending. This course delivers actionable guidance on the CFPB’s Final Rule extending compliance dates for Regulation B small business lending data collection under the Equal Credit Opportunity Act. Learn how to determine your institution’s compliance tier, adapt to new reporting deadlines, implement estimation and transitional rules, and prepare for timely, accurate annual submissions. Avoid costly penalties by understanding grace period policies and strategies for smooth compliance.
In this course you will learn the following:
* Understand the statutory and regulatory background of the small business lending rule.
* Identify the new compliance dates and requirements for different tiers of financial institutions.
* Apply transitional and estimation rules for determining compliance obligations.
* Prepare for voluntary early data collection and annual data submission.
* Recognize the legal and financial consequences of non-compliance.
* Utilize the CFPB’s grace period policy to support compliant implementation.
