Whether you have a reportable Section 1071 application can generally be determined by the following equation:
Non-Consumer Credit*
+ Small Business Applicant Gross Annual Revenue ≤ $1 Million
+ 1071 Covered Application*
= Reportable 1071 Application
Close attention must be paid to the asterisks here as several exclusions could apply. For example, agricultural loans and HMDA-reportable transactions are not 1071-reportable.
Published 2026/10/09
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!
