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Welcome to Compliance 911, a no-nonsense, cut to the point, style show for today’s busy bank and credit union compliance professionals. With this series of bi-weekly shows our goal is to boil down some of today’s hottest regulatory compliance topics in quick and easy to digest 5-10 minute episodes so you can get the information you want and get on with your day. We’ll be discussing topics like CRA, HMDA, Fair Lending, Anti Money Laundering, and so much more. Don’t forget to subscribe and tell a friend about us! Follow M&M Consulting and GeoDataVision us on LinkedIn to get the latest updates.
Episodes
20 hours ago
20 hours ago
11 min
In this episode of The Compliance 911, Len Suzio of GeoDataVision and Dean Stockford of M&M Consulting discuss the latest changes to the CFPB’s Section 1071 Small Business Lending Rule and what they mean for financial institutions. They examine the significant narrowing of reporting requirements, including higher loan origination thresholds, a reduced small business revenue limit, exemptions for certain loan types, and streamlined demographic data collection. They also explore the new January 1, 2028 compliance deadline, the potential reduction in regulatory burden for community lenders, and the key steps institutions should take to determine whether they remain subject to the rule and prepare for implementation.
Brought to you by GeoDataVision and M&M Consulting
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