Nashville, TN 37228
On Tuesday, February 4, Chris Friedman will address the Tennessee Bankers Association’s Senior Compliance Forum about the challenges associated with preparing for the CFPB’s upcoming release of rules enacting Section 1071 of the Dodd-Frank Act. Section 1071 amends the Equal Credit Opportunity Act to mandate certain reporting requirements for lenders who make certain small business loans. The CFPB has signaled that it will engage in Section 1071 rulemaking in the near future, meaning that banks and other lenders must start preparing to comply with new collection and reporting requirements. Chris will discuss how banks and other lenders who take a forward-looking approach to the upcoming rulemaking will be better-positioned to make a smooth transition to Section 1071 compliance.