Small Business Lending Rule (1071) – In Depth

This Small Business Lending Rule (1071) – In Depth online training course explores the new subpart B to regulation B in order to comply with the Small Business Data Collection requirements. Section 1071’s statutory purposes are to (1) facilitate enforcement of fair lending laws, and (2) enable communities, governmental entities, and creditors to identify business and community development needs and opportunities of women-owned, minority-owned, and small businesses.

Course Learning Objectives

By taking this online Small Business Lending Rule (1071) – In Depth course, the user will learn:

• The purpose of Section 1071
• Whether or not a financial institution is a Small Business Data Collection reporter
• The transactions that are applicable for reporting
• When to report covered loans
• The data collection points
• How to ensure compliance with the firewall rules
• How to ensure compliance with disclosure requirements
  
  

Course Outline

This online Small Business Lending Rule (1071) – In Depth course is made up of the following sections:

1. Covered Financial Institutions and Effective Dates
2. Covered Transactions
3. Covered Applications
4. Data Points
5. Demographic Data Collection and Disclosures
6. Firewall
7. Recordkeeping

Course Audience

This Small Business Lending Rule (1071) – In Depth online training course was designed for employees that are responsible for bank compliance.

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.