Section 1071: A Deep Dive & What You Need to Know (In-Person, Live Stream and Recording)
March 19, 2025
9am-4pm
Member Fees: $265 (In-Person); $365 (Live Stream); $530 (Recording); $100 Add On Recording Fee with In-Person or Live Stream Registration
Non-Member Fees: $465 (In-Person); $565 (Live Stream); $730 (Recording); $100 Add On Recording Fee with In-Person or Live Stream Registration
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Please note: If you participate in-person or by live stream via Zoom, we will email a certificate to you following the program. Certificates will only be emailed to registered attendees. If you register for the recording, we will not be able to provide a certificate because we will not be able to track attendance.
*ABA Professional Certification Continuing Education Credit - This program will be submitted to ABA for CE Credit review (For In-Person and Live Stream Only)
This comprehensive seminar has been crafted to help you implement the necessary changes within your institution and achieve compliance with Section 1071.
In the seminar we’ll go deep into 1071. You will learn what’s in the final rule and how to “accurately” interpret what it means for your organization. We will also discuss how Fair Lending and CRA programs will be impacted. You’ll come away knowing the key elements of the law and understanding what will be expected of your institution going forward.
During the day we will focus on the required data collection fields and explore ways to capture the new data elements. Collecting small business loan data will be difficult for most lenders. Multiple gender designations, free form fields, and the rules around LGBTQI+ data collection only add complexity.
The goal of the seminar is for you to come away with the tools to create an effective, sustainable Section 1071 compliance program. We’ll also discuss ways to prepare your board and senior management, set and meet compliance expectations, and communicate with all stakeholders, including commercial lenders.
When you participate in this seminar, you’ll:
- Gain a deeper understanding of Section 1071, its breadth, and how it impacts your institution.
- Explore the all the requirements of the final rule and learn how to obtain the requisite data.
- Get actionable strategies for easing the regulatory burden, ensuring compliance, and making the implementation process as efficient as possible.
- Find out ways to acclimate team members and customers to impending changes in the lending process.
- Come away with a detailed manual that can serve as a handbook long after you’ve completed the seminar.
This seminar is designed for anyone who needs a better understanding of Section 1071’s final rule. It may be particularly beneficial for compliance officers, as well as those working in commercial lending, compliance, training, loan services, auditing, and senior management.
Kimberly Boatwright is EVP and Director of Risk and Compliance at Compliance Resource, LLC and has more than a two decades of experience working in the financial services industry. Ms. Boatwright is a well-regarded financial industry risk and compliance professional with a strong background in program development and implementation. She is a thought leader who specializes in Fair Lending, Anti-Money Laundering, OFAC and consumer compliance. During her career she has worked for and consulted with all types of financial institutions helping to establish and evolve compliance and risk programs. She is a frequent public speaker, trainer, and author on compliance and risk management topics. Kimberly is a Certified Regulatory Compliance Manager, a Certified Anti-Money Laundering Specialist, and a Fair Lending Expert.
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