7 STEPS YOU SHOULD TAKE TO PREPARE FOR SECTION 1071 – CLICK HERE TO READ
A recent status report filed with the court by the Consumer Financial Protection Bureau (CFPB) indicates the CFPB is on track to issue the final rule for data collection under Section 1071 of the Dodd-Frank Act (DFA) no later than March 31, 2023. Once the final rule is released, it will be a sprint to complete implementation.
Mortgage Operations & Compliance
Small Business Credit Survey: Report on Minority-Owned Firms Source: fedsmallbusiness.org Treliant Takeaway: Treliant knows lending, fairness, and community development. If your firm needs assistance with small business fair lending analysis or community development strategies, Treliant can help. Article Highlights: In December 2019, the 12 Federal Reserve…
Uncertain Terms: What Small Business Borrowers Find When Browsing Online Lender Websites Source: Federalreserve.gov Treliant Takeaway: Treliant knows FinTech, fairness, and privacy. While recognizing FinTech’s potential to increase both competition and access to credit, Treliant understands that borrower confusion, especially when combined with inconsistent disclosures, leads…
Has COVID-19 created an opportunity for banks and other mainstream lenders to reenter the small-dollar loan market? After years of driving banks out of the market, the current environment has prompted regulators to encourage banks to re-engage in small dollar lending. Regulatory Environment In March 2020, the Consumer Financial Protection…