The IBA has a wide variety of resources available as you learn about, implement and train on the Section 1071 Small Business Data Collection Rule. We will continue to update this page with new links and training, so please bookmark and check back.
Training
IBA Compliance Webinar: Small Business Data Collection Series
July 19, August 22, September 21, October 24, December 12
More Information & Registration
This 5-part webinar series, developed and presented by the IBA compliance team, will take a deep dive into the Small Business Data Collection Rule covering essential rule details banks will need to understand to create and implement their data collection programs.
IBA Compliance OnDemand Webinar: First Look at Small Business Data Collection
More Information & Registration
The Consumer Financial Protection Bureau recently released its 800+ plus page final rule implementing section 1071 of the Dodd-Frank Act, which amended Regulation B to require the collection and reporting of certain data related to small business lending. Nearly every bank in Iowa will be impacted by this rule. The rule will become effective 90 days after publication in the Federal Register with staggered mandatory compliance dates starting in 2024. Therefore, banks need to start preparing for the rule NOW!
IBA Compliance School Alumni Update: An In-Depth Look at the 1071 Rule
June 28 – West Des Moines Marriott Hotel, West Des Moines
More Information & Registration
Kimberly Boatwright with Compliance Resource will present a session on the Small Business Data Collection rule at the IBA Compliance School Alumni Update.
IBA Compliance Conference
November 15-16, The Meadows Event Center, Prairie Meadows, Altoona
More Information & Registration
The Small Business Data Collection rule will be a hot topic at this year’s IBA Complaince Conference. The conference will feature a 1071 Basics breakout session that focuses on reportable applications and exclusions, the importance of documentation and tips for non-HMDA and newly-HMDA reporting banks.
We’ll also have a 1071 Implementation Challenges general session featuring a banker panel discussing the steps they have taken to implement the rule. The panel will feature a bank from Tier 1, 2 & 3 and will cover implementation strategies, the application piece and the training process for lenders.
Lender Seminars (coming soon)
The IBA plans to hold a series of in-person training designed for lenders as we get closer to the manadory compliance dates. Check back for more information on these seminars.
1071 Google Group
We know that the Small Business Data Collection rule is going to impact your bank for the next several years, so we have created a forum for you to be able to ask questions and share best practices with your peers. There is no cost to join the 1071 Google Group and you can add multiple employees from your bank. To be added to the group email compliance@iowabankers.com.
Articles
A series of Disclosure articles related to the Small Business Data Collection rule and implementation can be found here. Check back frequently as new articles will be posted regularly that focus on developments related to rule implementation, a breakdown of the rule requirements, implementation tips and more.
FAQ
Following each webinar, the questions and answers discussed during the event will be posted to this series of FAQ along with FAQ appearing in the Disclosure. The FAQ are organized by topic to aide in researching specific issues.
Tools & Guides (coming soon)
Check back as IBA develops tools and guides to help with your 1071 implementation. Tools and guides will be available here.
Onsite 1071 Training
The IBA’s on-site training is designed to meet the compliance training needs of individual member banks. Conducted by IBA Compliance staff members and provided at a moderate hourly rate, on-site training is tailored to meet member bank’s specific training needs.
For more information, contact Julie Gliha at (515) 286-2981 or Ronette Schlatter at (515) 286-4361.