CFPB 1071 rule deadlines and effective dates
Compliance deadlines for the CFPB 1071 final rule are tiered, based on the number of covered credit transactions originated in each of 2022 and 2023. Knowing the 1071 rule deadline for your specific financial institution is the first step in preparing to collect and begin reporting small business loan data from applicants.
Use this timeline to learn:
- How each tier is defined for covered financial institutions
- Each tier’s deadline for beginning data collection
- When data generated by the CFPB 1071 rule needs to be reported, based on each tier
Check out other job aids, articles, and related resources for complying with the 1071 rule: