Description:
All registrations to Compliance Resource webinars include five live connections AND the recording of the webinar (guaranteed for one year).
Revised and Updated: Section 1071 – 5 Critical Steps Needed Now! has been submitted to ABA Professional Certifications for CE credit review and is pending approval. Once we receive notification of the credit approval, we will notify attendees.
WHAT
In response to the CFPB’s recent announcement that Section 1071’s final ruling will be announced in January, we’re now offering an updated version of our popular Section 1071 – 5 Critical Steps Needed Now webinar!
Join us January 31st to get a thorough understanding of how changes to Section 1071 will impact your institution and how you can begin preparing for the most significant regulatory updates in recent history.
WHY?
Implementing the changes necessary to comply with Section 1071 of Regulation B will likely require a full compliance management system, including updates to policies, procedures, training, and auditing and will impact budgeting for several years.
In addition to key definitions, effective dates, and the required data fields, you’ll also come away from this live-streaming webinar knowing…
- Which types of transactions are exempt from reporting
- The tolerances applied to the collected data
- How to report data to the CFPB
- Important recordkeeping requirements
And so much more.
JOIN US TO:
- Learn the 5 most important steps you can take to ease the pain of implementing the new rules
- Understand the scope of Section 1071 and its impact on your institution
- Dive into the 21 required data fields and how your institution can begin collecting them
- Identify additional resources that may be required to get compliant, including budgeting, staffing, tools, and training
- Gain actionable strategies for creating and conducting an effective 1071 Gap Analysis
- Learn how to communicate the impact of Section 1071 and its impact on the institution to the board and senior management
- Find out how a preliminary analysis can detect questionable lending patterns
- Understand the “firewall” concept as it relates to loan applications and identify necessary changes so new forms can be in place by the effective date
- Establish a proactive plan to acclimate employees and customers to changes in the lending process
- Come away with a detailed manual that serves as a handbook long after you’ve completed the webinar
WHO SHOULD ATTEND:
This program was designed for anyone who needs a better understanding of Section 1071 and commercial lending compliance, as well as compliance officers, loan officers, training staff, auditors, senior management, and members of the board.
Presenters:
Kimberly Boatwright
Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC and has more than a two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC and consumer compliance. During her career she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager and a Certified Anti-Money Laundering Specialist.
January 31, 2023