Section 1071 is a provision in the Dodd-Frank Wall Street Reform and Consumer Protection Act, which requires covered financial institutions (“FIs”) to collect and report data on small business lending. On March 30, 2023, the Consumer Financial Protection Bureau (“CFPB”) finalized a rule that implements Section 1071.

2025年2月10日 · A U.S. court of appeals temporarily paused the Consumer Financial Protection Bureau’s 1071 small-business rule and extended its compliance deadlines until further notice, as advocated by ICBA.

2024年12月5日 · The Consumer Financial Protection Bureau’s 1071 small-business rule exceeds the agency’s statutory authority and is arbitrary and capricious, ICBA said in a new court filing. Details: In an opening appellate brief, ICBA and other groups said the court should set aside the CFPB’s rule because the bureau:

2024年6月25日 · On March 30, 2023, we issued a final rule amending Regulation B to implement changes to ECOA made by section 1071 of the Dodd-Frank Act. Consistent with section 1071, covered financial institutions are required to collect and report to the CFPB data on applications for credit for small businesses, including those that are owned by women or ...

2023年4月3日 · Section 1071 Compliance: What Does the Final Rule Mean for Small Business Lenders Like You? The CFPB has released the final rule implementing Section 1071 of the Dodd-Frank Act. Ncontracts regulatory compliance experts have gone through all 800+ pages.

2023年3月10日 · If you’ve gone to any banking conferences or webinars, you know that 1071 also known as Section 1071 of the Dodd-Frank Act) is top of mind for commercial bankers. While the CFPB isn’t required to release its final rule until March 31, …

2025年2月10日 · A U.S. court of appeals temporarily paused the Consumer Financial Protection Bureau’s 1071 small-business rule and extended its compliance deadlines until further notice, as advocated by ICBA.

2024年6月25日 · This page contains key information and details regarding the new small business data collection rule. The links below include information for reporting requirements, deadlines, data points, partner webinars and more.

2025年2月5日 · The Congressional Review Act cannot be used again on 1071, so ICBA is backing Chairman Williams’ new legislation to scrap 1071, which would need to pass the full House and faces a 60-vote hurdle to pass the Senate.

2023年4月17日 · Our panel of lending compliance and risk management experts will walk you through the key points of the rule including: • Which organizations must comply with 1071 • Definition of a small business under 1071 • Data fields and deadlines • What you need to do to comply • Best practices for implementation Link to register: https://hubs.ly/Q01JHDZd0.