Section 1071: In, Out or Maybe
The Section 1071 Final Rule released on May 1, 2026, culminated a strange and chaotic road. We’ve been saying since the beginning that 1071 wasn’t going away; it was just a matter of what it would look like in the end. While many institutions will now be outside the coverage of 1071, that relief may not last forever. Section 1071 coverage will be based on an ongoing loan volume test and, in the Final Rule, the CFPB signaled the possibility of expanding 1071 coverage in the future. This all means that being out today doesn’t necessarily mean you will be out forever. While we don’t anticipate 1071 coverage being expanded for some time, it’s important your Board of Directors understands that 1071 coverage isn’t a “one and done” test.
Jerod explains more in the video.
Published 2026/06/19
Jerod Moyer
Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!