CFPB 1071: Small Business Lending Data Collection Rule Compliance
Prepare your team for the new era of small business lending compliance. This in-depth course covers the CFPB’s Final Rule (Regulation B, Section 1071), detailing which financial institutions and transactions are covered, key data collection and reporting requirements, deadlines, privacy mandates, and operational impacts. Learn actionable steps for implementation, understand the compliance landscape, and discover how to avoid costly penalties. Equip your institution to advance fair lending, ensure data accuracy, and meet rigorous CFPB expectations.
In this course you will learn the following:
* Understand the scope and intent of the CFPB 1071 Final Rule.
* Identify which institutions and transactions are covered.
* Learn the specific data collection, reporting, and recordkeeping requirements.
* Recognize compliance timelines and transitional provisions.
* Assess the legal, financial, and operational impacts of the rule.
* Prepare for enforcement, audits, and potential penalties for non-compliance.
NOTE: Unless otherwise indicated, all course purchases are for access to the course for a period of 1-year. At the end of the one year term, the course will be set to “inactive”.