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Unraveling Regulation 1071: Navigating Compliance Challenges for Business Lending
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Regulation 1071, a pivotal aspect of small-business lending compliance, has recently faced delays in enforcement amidst legal challenges. This delay comes as the Supreme Court deliberates on the constitutionality of the Consumer Financial Protection Bureau's (CFPB) funding structure, a decision poised to reshape the regulatory framework for financial institutions nationwide.
In this webinar, you will hear about the critical operational challenges that financial institutions encounter as they navigate the complexities of Regulation 1071. The rule's extensive 888-page document and its emphasis on "reasonably designed procedures" pose significant hurdles for compliance teams.
Tune into a dynamic half an hour to hear our speakers discuss:
- The intricacies of data collection
- Compliance overlaps with existing federal and state regulations
- Strategies for interpretation and implementation
Watch now.