Section 1071 Final Rule and the Proposed CRA Rule – Operational Issues and Interplay
Bank counsel face the task of counseling their internal clients to address the operational concerns arising from the new CFPB Section 1071 Small Business Lending Data Collection final rule and the proposed Community Reinvestment Act rule, which will soon be issued as a final rule. As a part of this, counsel must be aware of interplays between these two rules and how they impact one another. Join us for a lively discussion of operational issues that must be addressed under these two rules, such as data maintenance and review, performing and responding to fair lending data analysis, adjusting and identifying assessment areas, and understanding new CRA examination and testing scenarios. The attending bank counsel should add interesting and informative perspectives on how their institutions are addressing these topics.