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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The CFPB made significant changes to the Section 1071 small business lending rule in May 2026. Is your financial institution ready for what those changes mean?
The CFPB’s May 2026 Final Rule revises several important aspects of the Section 1071 small business lending requirements originally finalized in 2023. Among the most significant changes are revisions to the rule’s coverage and applicability, a reduction in the number of data points financial institutions will be required to collect and report, and updated implementation timelines.
If your institution has already been preparing for Section 1071, these changes may require you to revisit your plans. If you have not yet started preparing, the revised requirements make it important to understand exactly what will be expected and when.
Our Overview of the May 2026 1071 Final Rule provides a practical, straightforward look at the revised requirements and what financial institutions need to know now. We’ll break down the key changes, explain the revised requirements, and discuss the steps institutions should consider as they move forward.
Whether your institution has already invested significant time and resources into preparing for Section 1071 or is still determining what the rule means for your organization, this program will help you understand the May 2026 changes and their practical implications.
Our Overview of the May 2026 1071 Final Rule would be beneficial for compliance officers and compliance professionals, commercial lending managers, commercial lenders, risk managers, auditors, fair lending professionals, and anyone else responsible for understanding, preparing for, or implementing Section 1071 requirements within their organization.
There will actually be two ways to access our Overview of the May 2026 1071 Final Rule program:
Individual Class. The easiest way to access our Overview of the May 2026 1071 Final Rule program is to purchase our stand-alone class at the purchase option below. This option focuses solely on the 1071 final rule update.
Summer 2026 Quarterly Compliance Update. The Overview of the May 2026 1071 Final Rule class is included as Part II of our Summer 2026 Quarterly Compliance Update. Our Spring Quarterly Compliance Update covers regulatory activity that took place during the second quarter of 2026, which, of course, includes the latest developments to the 1071 final rule. NOTE: If you are interested in our Summer 2026 Quarterly Update program, go to www.compliancecohort.com/summer-2026-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.
