Answering your top CFPB 1071 compliance questions

Over the past 18 months, the CFPB 1071 final rule has emerged as a hot topic in banking, due to its impact on small business lending data collection and compliance. 

Given recent adjustments to the compliance timeline and ongoing questions about preparation, Abrigo experts will offer a quick session exploring the updates and nuances of Section 1071 and its impact on your small business lending operations. Join us to gain actionable insights and ensure your bank or credit union is fully prepared. 

You will learn:

• What kinds of transactions are covered under the data collection rule 
• How recent compliance timelines have changed and what it means 
• Why you may need to consider small business application process changes to ensure compliance
• The importance of creating a formal plan toward compliance