On March 30, 2023, the CFPB released its final rule amending Regulation B to implement changes to ECOA made by section 1071 of the Dodd-Frank Act requiring financial institutions to collect and report data on small business loans. On June 8, 2023, our team of industry professionals discussed the requirements of the rule and the impacts to small business lenders. Some of the topics our panel covered include who must report, what must be reported, when lenders must begin collecting and reporting the data, the fair lending implications, decisions that must be made, and the work that should start now to prepare for implementation of the rule. There is a lot more than just waiting for your vendors.
Speakers:
Ellen Rose
Daniel Johnson
Renee Huffaker
This webinar was recorded on June 8, 2023 with The Five Star Institute