Download On-Demand Webinar
Ready or Not: Section 1071 is Coming - What it Means for Small Businesses and Your Institution
This webinar was originally delivered on Thursday, September 23, 2021.
- David O'Connell, Senior Analyst, Aite-Novarica Group
- Christopher Eriksson, SVP of Enterprise Banks, nCino
About the Webinar:
Section 1071 of the Dodd-Frank Act is nearing completion and will require financial institutions (FIs) to aggregate, maintain and report on applications made by minority-owned and women-owned small businesses to the Consumer Financial Protection Bureau (CFPB). Join us for an engaging webinar where experts from Aite-Novarica and nCino discuss what this new legislation is and how it impacts your institution, explain the potential risks and challenges FIs will face stemming from Section 1071,and provide key takeaways on how organizations should move forward.
Attendees Will Learn:
- What Section 1071 is, its history and why it’s been sitting idle, its impending completion date, and important regulatory updates on the topic;
- Best practices for data collection, tips and tricks on fair lending analysis, and how to ease the potential burdens of new government initiatives and regulations; and
- How to translate the impacts of Section 1071 to their specific organization, from creating an action plan to what to expect once implemented.