Description
This 90-minute on-demand session outlines how to conduct a gap analysis for Section 1071 of the Dodd-Frank Act and will help you understand how the new reporting requirements impact your organization.
Together, we’ll examine the requirements of this new regulation, analyze what elements may already be a part of your lending program, and discuss how to strengthen areas that may be deficient.
WHY:
On March 30, 2023, the CFPB issued a final rule amending Regulation B to implement changes to ECOA made by Section 1071 of the Dodd-Frank Act. At a monstrous 888 pages, the final rule presents compliance departments with countless challenges.
When you view this on-demand recording, you’ll come away with the tools you need to carry out an effective gap analysis and identify the areas of your lending program that will require updating to achieve compliance with Section 1071.
This recording will cover:
- Why a gap analysis is so important and how its findings should influence your program.
- Actionable strategies for creating and conducting an effective Section 1071 gap analysis.
- How to share your findings with the Board, Senior Management, and colleagues for more meaningful risk-based discussions.
- How (and why) to start budgeting for Section 1071 as soon as possible.
WHO SHOULD ATTEND:
This on-demand session is designed for anyone who needs a better understanding of Section 1071’s final rule. It may be particularly beneficial for compliance officers, as well as those working in commercial lending, compliance, training, loan services, auditing, and senior management.
