Section 1071: A Practical Approach to Unpacking the CFPB’s Final Rule (Sept. 13)

The Consumer Financial Protection Bureau’s Section 1071 requires financial institutions to collect and report data from credit applications made by small businesses. The CFPB finalized a rule to create a new data set and increase transparency in small business lending.

Join MBA Education and industry experts for an in-depth discussion on the new rule for Small Business reporting. Participants will learn whether they must report and what kinds of transactions and data are reportable. Our experts will also provide best practices for reporting and the risks associating with non-reporting or misreporting.

Wednesday, September 13 (1:00 PM – 2:00 PM ET)

Click here for more information.

Objectives:

Overview of CFPB’s new rule on Small Business Reporting

Covered institutions/transactions

Tips and Tricks to reporting

Differences w/HMDA

Compliance Timing

Experience Level:

Entry Level

Intermediate

Target Audience:

All CREF and Residential MBA Members

Speakers:

Olivia Kelman, Partner, K&L Gates, LLP

Paul Hancock, Esq., Partner, K&L Gates, LLP