Section 1071 Proposal Issued

The CFPB has issued its revised proposal to implement the Section 1071 requirements of the Dodd-Frank Act. As somewhat expected, the CFPB has proposed changes to the definition of small business and the origination volume threshold to determine coverage.  A key exemption is proposed as well. The CFPB is looking to move fairly quickly on this one, as comments are due by December 15th.

Amy Kudlacek

Amy brings many years of banking and compliance experience to Banker’s Compliance Consulting. She has worked for both large and small financial institutions and spent time working in every area of a bank. She started out as a teller in college and eventually became a branch manager. Her love, however, was always compliance. Amy began her career with Banker’s Compliance Consulting in 2000. Her knowledge and experiences have allowed her to develop a well-rounded and practical approach to regulatory compliance. Amy is CRCM certified, has a Bachelors Degree in Business Administration and is a graduate of the ABA Compliance School. Amy & her husband have two children at home and stay busy following their activities. They spend a lot of time in the bleachers!

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