Section 1071 – Implementation Strategies and Impact on CRA and Fair Lending

After a series of legal challenges, Section 1071 implementation dates have been updated, giving financial institutions additional time to devise a plan. The impacts from 1071 will impact many facets of your institution, affecting everything from your front-line commercial staff to your back-office underwriters, and from your CMS to your Community Reinvestment Act and Fair Lending programs. Ensuring data integrity and strengthening controls should be a top priority.

The Anders Banking and Financial Institutions group teamed up with CRA Today to bring banks a crash course on how to prepare for 1071 and its impact on CRA. Join Anders audit and assurance partner and compliance and loan review practice leader Brad Stumpe, CPA, CRCM and CRA Today and CRA Hub founder Linda Lewis Ezuka for a detailed discussion into actionable steps institutions like yours can take to prepare for the new rule.