CFPB – RegCast Announced for July 25, 2023

If your institution is still questioning which compliance tier you fall into for Small Business Data Reporting, Section 1071.  If you have questions about covered transactions or just want to hear what the CFPB has to say on 1071 coverage.  You’re in luck.

The CFPB announced this morning that they will host a RegCast on the small business lending rule.  It will provide information from the rule to help financial institutions determine whether they are covered financial institution for purposes of complying with the small business lending rule. This will include how to determine if transactions are covered credit transactions and whether businesses are small businesses.

The session will take place on Tuesday, July 25, 2023, 11:00 AM – 12:00 PM EST.