user
Welcome to Compliance 911, a no-nonsense, cut to the point, style show for today’s busy bank and credit union compliance professionals. With this series of bi-weekly shows our goal is to boil down some of today’s hottest regulatory compliance topics in quick and easy to digest 5-10 minute episodes so you can get the information you want and get on with your day. We’ll be discussing topics like CRA, HMDA, Fair Lending, Anti Money Laundering, and so much more. Don’t forget to subscribe and tell a friend about us! Follow M&M Consulting and GeoDataVision us on LinkedIn to get the latest updates.
In Episode 98, Dean and Len discuss the CFPB’s newly announced 2025 Section 1071 Interim Final Rule, which further delays the compliance dates for small business lending data collection and reporting by roughly one year for thousands of banks, credit unions, and commercial lenders. The hosts break down the complexities created by shifting rules, changes in definitions of “small business loan,” and the overlap with Community Reinvestment Act (CRA) requirements. They highlight how the new staggered compliance dates and partial-year reporting could create confusion, unnecessary costs, and data that’s not useful for analysis. The podcast encourages lenders to submit comments before the July 18, 2025 deadline, not just about compliance timing but also about issues like the expanded data requirements and demographic data isolation, and recommends all data collection start uniformly on January 1, 2028, to improve clarity and efficiency.
Brought to you by GeoDataVision and M&M Consulting
