The Consumer Financial Protection Bureau updated its frequently asked questions on its Section 1071 small-business rule.
CFPB updates FAQs on 1071 rule
September 15, 2023 / By ICBA
The Consumer Financial Protection Bureau updated its frequently asked questions on its Section 1071 small-business rule.
The Consumer Financial Protection Bureau updated its frequently asked questions on its Section 1071 small-business rule.
Details: Dated Sept. 14, the updates apply to a range of questions and answers on 1071 implementation and compliance.
Additional Resources: The CFPB also offers a small entity compliance guide on the 1071 rule, while ICBA offers a summary of the rule and more than 100 Q&As about it on the ICBA Compliance Vault.
Grassroots Resources: Meanwhile, ICBA continues encouraging community bankers to use its custom resources to speak out on the 1071 rule.
ICBA offers custom resources, including social media content and a sample op-ed, to educate and engage customers on the impact of the rule.
ICBA’s Be Heard grassroots action center allows community bankers to urge their members of Congress to support a House and Senate resolution to block the rule.
Subscribe now
Sign up for the Independent Banker newsletter to receive twice-monthly emails about new issues and must-read content you might have missed.
Sponsored Content
Featured Webinars
Join ICBA Community
Interested in discussing this and other topics? Network with and learn from your peers with the app designed for community bankers.
Subscribe Today
Sign up for Independent Banker eNews to receive twice-monthly emails that alert you when a new issue drops and highlight must-read content you might have missed.
News Watch Today
Join the Conversation with ICBA Community
ICBA Community is an online platform led by community bankers to foster connections, collaborations, and discussions on industry news, best practices, and regulations, while promoting networking, mentorship, and member feedback to guide future initiatives.
Join the Community Example Text
