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Small Business Lending Rule – Sec. 1071 of DFA – ECOA 15 USC 1691c-2 (Small Business Loan Data Collection) – Regulation B

Intro and what Joe Goldberg and I will cover

         Background and purpose

         Overview of coverage and collection/reporting requirements

         Compliance dates

         Resources available to your credit union

This is the point where you should know about the resources CFPB has so you can determine if your CU is subject to the rule and, if it is, everything you need to know about how to collect and report the data.

Those resources include the following:

Final Rule

Table of Contents for Final Rule

Small Entity Compliance Guide

Executive Summary

Key Dates

Compliance Dates Information

Data Points Chart

Sample Data Collection Form

Filing Instruction Guide

Page on CFPB website (consumerfinance.gov) under Compliance, then go to Compliance Resources and look for Small business lending collection and reporting requirements – links to all the resources, and more, on one page

Here is the link:

Small business lending collection and reporting requirements | Consumer Financial Protection Bureau (consumerfinance.gov)