IBA’s compliance webinars are a continuing series. Brought to you by the IBA compliance staff they offer timely information, addressing key regulatory issues when you need it. The webinars keep you informed and ready for the challenges of the changing regulatory financial services environment.
The Consumer Financial Protection Bureau recently released its 800+ plus page final rule implementing section 1071 of the Dodd-Frank Act, which amended Regulation B to require the collection and reporting of certain data related to small business lending. Nearly every bank in Iowa will be impacted by this rule. The rule will become effective 90 days after publication in the Federal Register with staggered mandatory compliance dates starting in 2024. Therefore, banks need to start preparing for the rule NOW!
This 90-minute webinar, led by the IBA compliance team, will focus on how to determine if your bank is subject to the data collection and reporting requirements with emphasis on:
- The definition of a “small business”
- Distinguishing between covered and exempt transactions
- Identifying and tracking covered originations
- Understanding the tiered mandatory compliance dates
Registration – $150/member
Registration includes access to the live webinar and recording.