Benchmark: CFPB Regulation B Small Business Lending Compliance Date Extension Training

Take this benchmark to assess how much you would benefit from taking the course on Compliance with the CFPB Final Rule on Small Business Lending Under the Equal Credit Opportunity Act (Regulation B) – Extension of Compliance Dates. These questions are not trivia; they gauge whether you grasp the rule’s intent, operational impacts, equity goals, and the practical choices institutions must make to implement it well. Use this quick check to spot blind spots before you invest time in full training.

What you’ll get from this benchmark:
– A snapshot of your readiness across policy intent (why the dates were extended), operational impact (how tiering, estimation, and transition rules affect workflows), and program philosophy (how the grace period and early collection should be used).
– Visibility into trade-offs and risks (data quality vs. speed, privacy and firewalls, reputational exposure from late or inaccurate submissions).
– Clarity on who is affected and when (lender tiers, fluctuating volumes, applications that straddle compliance dates) without memorizing dates.
– A targeted study plan that highlights where the course can save you time, reduce regulatory risk, and strengthen fair-lending outcomes.

If you find these questions challenging or second-guess your answers, the course will help you: choose defensible methods for determining your tier, document estimation approaches regulators accept, use the 12-month grace period effectively, pilot voluntary demographic data collection without creating privacy pitfalls, and prepare for timely, accurate annual submissions. Completing the course equips you to protect your institution from enforcement and reputational risk while advancing transparency and equitable access to credit.