Section 1071 Coverage Flowchart

When it comes to Regulation B’s Section 1071 Rule (1071), knowing whether an application is reportable or not is critical. If you report applications that you shouldn’t or don’t report applications that you should, you will quickly find yourself in hot water with examiners.

We are always looking for ways to make compliance easier and have developed a flowchart that can help! Our “Section 1071 Small Business Lending Application Coverage Flowchart (Version 1.1)” is now available in the Free Lending Tools on our website. Jerod explains the flowchart more here:

 

Stay tuned as we have more Section 1071 tools in process!


1071 Resources!

Published
2024/07/15

 
Diane Dean

Diane Dean

Diane joined Banker’s Compliance Consulting with over 10 years of compliance experience and over 15 years of experience within the financial industry. Diane is a Certified Regulatory Compliance Manager (CRCM) and has a Bachelor’s Degree in Sociology with a concentration in Criminal Justice. She is a graduate of the Schools of Banking Compliance School and has participated in various other training opportunities throughout her career. Diane understands firsthand the struggles banks face in building and maintaining successful compliance programs. Her experience and common sense approach to consumer compliance is a great asset to our clients. Diane and her husband have two kids who keep them busy. She enjoys running and other sports and is a big Bugs Bunny fan! She’s a bit crazy in that she does enjoy reading some of these regulations and she’s a “crazy cat lady!” Her cat tales are hilarious!

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Section 1071 Coverage Flowchart
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