2025 Compliance Essentials: Section 1071
 
Program Agenda
May 8, 2025
9:00 a.m. - 11:00 a.m. CST

Brochure
Register by Individual Here
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Section 1071 implementation has once again begun moving forward. Even though the rule continues to face legal hurdles, the Consumer Finance Protection Bureau issued an interim final rule extending the rule's initial compliance dates. This webinar will reacquaint you with the requirements for the collection and reporting of credit application data for small businesses, including women-owned and minority-owned small businesses, as well as discuss some of the policy and procedure impacts for implementing compliance.
 
Who Should Attend:
This webinar is designed for anyone in banking who is involved in small business lending, particularly the application process. This could include commercial lenders, processors, front-line staff, commercial lending support staff, and related employees, as well as compiance professionals, auditors, risk managers and officers, and line of business managers. Also, executive management and even directors would benefit from understanding teh requirements of this extensive new rule.

Topics that will be covered:
  • Institutional Coverage
  • Transactional Coverage
    • Small Business
    • Covered Credit Transactions
  • Covered Originations
    • Reportable Applications
  • Requirements to Collect and Report Data
  • Requirements to Report Data to the CFPB and Provisions Regarding Availability and Publication of Data
  • Requirements to Limit Access to Certain Data
  • Recordkeeping Requirements
  • Effective Date and Compliance Date Tiers
  • Transitional Provision for Determining Number of Covered Originations
  • Safe Harbors and Other Provisions
  • Current Legal Status and Outlook

Program Presenter

Lewis Walton, J.D. - Staff Attorney/Compliance Specialist and Auditor, Compliance First Banking Solutions, LLC (a subsidiary of KBA).
Lew has been a member of the CFBS team for over three years. Prior to joining CFBS, Lew worked extensively with regulatory compliance in the health care field. Lew served as a technology administrator for health care non-profit organizations in Kansas and medical centers in Wisconsin for over 15 years. He has a bachelor's degree in philosophy where his studies emphasized Logic and Ethics. Lewis earned his Juris Doctorate from KU Law, where his coursework emphasized Tax Law and Bankruptcy.

**Program fees are based on bank asset size. There is no limit on the number of people that can attend the virtual session from your financial institution. Please login and register one person from your bank and pay based on your bank’s asset size. Then email all other attendees (include attendee’s first and last name, bank location and e-mail) to Natalie Wareham at nwareham@ksbankers.com so that additional attendees can be registered free of charge to receive their own link and login information for the session.

*We understand circumstances arise requiring cancellation - if you cancel up to 5 business days before the program, your registration fee will be refunded. No refunds will be provided once the materials have been received.
*Any transmission, retransmission or republishing of the audio or video portion of the seminar is strictly prohibited.