Small Business Lending Rule (1071): Applicability

The Small Business Lending Rule (Section 1071 of the Dodd Frank Act) requires financial institutions collect and report to the CFPB certain data regarding applications for credit for women-owned, minority-owned, and small businesses. This course provides the details in which a financial institution must use to determine if it must comply with the new rules as well as the types of credit that apply to the new rules.