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!
Published
2024/07/15