Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
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Big changes could be coming to Section 1071—and financial institutions need to be ready. With a new administration in the White House and leadership shifts at the CFPB, the future of Subpart B of Regulation B—the section that implements the 1071 small business lending rule—is uncertain. Whether the rule is revised, delayed, or repealed altogether, banks and credit unions must stay ahead of the changes to remain compliant and competitive. This course gives you a timely, no-nonsense update on what’s happening now, what could happen next, and what your institution needs to know to be prepared.
Section 1071 amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to collect and report data on certain small business credit applications. The CFPB’s final rule, issued in March 2023, added these requirements to Regulation B and outlined the specific data points that must be reported. The goal: to support fair lending enforcement and better understand the credit needs of women-owned, minority-owned, and small businesses. The rule also introduced key operational requirements, including a firewall to limit access to sensitive applicant information.
Since the start of 2025, there have been several developments that suggest real changes may be on the horizon for the Section 1071 rule. While the final rule has already been issued and implementation timelines were set, recent signals from Washington indicate that the rule’s future may not be as settled as it once seemed. For financial institutions, this means increased uncertainty—and the need to stay informed and adaptable. Whether your institution is deep into implementation or still preparing to ramp up, staying current with the latest developments is now more critical than ever.
The 1071 Update (2025) program covers everything you need to know right now about the Section 1071 final rule, including:
Overview of the 10 71 Regulation - Understand the foundations, proposals, and final rules of the regulation.
Key Updates - Get the latest developments and insights about the rule.
Future Projections - Learn about potential scenarios about whether the rule could be revised, repealed, or maintained as is.
Our 1071 Update Compliance Class would be good for compliance officers and compliance professionals, risk managers, commercial lending managers, commercial lenders, auditors, and anyone else who is responsible for understanding and implementing the 1071 final rule in their organizations.
There will actually be two ways to access our 1071 Update - 2025 program:
Individual Class. The easiest way to access our 1071 Update - 2025 program is to purchase our stand-alone class at the purchase option below. This option focuses solely on the 1071 final rule updates.
Spring 2025 Quarterly Compliance Update. The 1071 Update - 2025 class is included as Part II of our Spring 2025 Quarterly Compliance Update. Our Spring Quarterly Compliance Update will cover regulatory activity that took place during the first quarter of 2025, which, of course, includes the latest developments to the 1071 final rule. NOTE: If you are interested in our Spring 2025 Quarterly Update program, go to www.compliancecohort.com/spring-2025-quarterly-compliance-update.
Regular Price: $299
ADD ON: Get the class “+ Unlimited Employees” for just $129 more. Add a private portal for anyone in your organization to view this program for an additional $129. Access is still available for 60 days, so those in your organization must view the program during your 60 day access window. Limit of 5 total Certificates of Attendance, though anyone in your organization can view the program through the portal we set up.
Demo Available: If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can set you up with preview access.
The class will be presented in multiple videos and covers the following topics.
The total teaching time of this program is 43 mins.
The content of this program includes:
Overview and Background
Recent Developments to the 1071 Final Rule
Presidential Executive Orders
CFPB to Initiate New Section 1071 Rulemaking
Possible New Laws
What to Expect
Next Steps
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about what compliance related activity took place during the prior quarter.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video(s)
60-day access to the class
Certificate of completion (1 per registration - available upon request/5 per registration for the +unlimited attendees option)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
