Answering your top CFPB 1071 compliance questions
Thursday, August 29, 2024
2:00 PM ET / 1:00 PM CT
2:00 PM ET / 1:00 PM CT
Over the past 18 months, the CFPB 1071 final rule has emerged as a hot topic in banking, due to its impact on small business lending data collection and compliance.
Given recent adjustments to the compliance timeline and ongoing questions about preparation, Abrigo experts will offer a quick session exploring the updates and nuances of Section 1071 and its impact on your small business lending operations. Join us to gain actionable insights and ensure your bank or credit union is fully prepared.
You will learn:
- What kinds of transactions are covered under the data collection rule
- How recent compliance timelines have changed and what it means
- Why you may need to consider small business application process changes to ensure compliance
- The importance of creating a formal plan toward compliance
Meet Your Presenters
Paula S. King, CPA
Principal Consultant
Abrigo
Paula King, CPA, is a former Principal Consultant for Abrigo Advisory Services. She assisted financial institutions with CECL, credit processes, model validations, and during COVID, the SBA’s Paycheck Protection Program forgiveness process. A former banker and bank co-founder, she has held executive positions (CFO, Chief Risk Officer and Chief Compliance
Rob Newberry
Senior Consultant
Abrigo
Rob Newberry is Senior Consultant with Abrigo’s Advisory Services and a faculty member of the Graduate School of Banking at the University of Wisconsin-Madison. In the past 10 years, he has worked with financial institution leaders and regulators to develop a suite of credit administration tools for community banks and
