Section 1071 Small Business Lending Rule Quick Reference Guide — Including Proposed Key Changes

This Section 1071 Quick Reference Guide provides a concise overview of the small business lending data collection requirements under Section 1071 of the Dodd-Frank Act, implemented through Regulation B by the CFPB. The guide summarizes who must comply, which transactions are covered, the definition of a small business, and the data points that must be collected and reported. It also outlines key compliance concepts such as firewall requirements, demographic data collection, reporting obligations, and record retention expectations.

It also highlights recently proposed and anticipated regulatory changes, including adjustments to compliance timelines and implementation expectations. Designed for compliance officers, lenders, and risk professionals, this quick reference simplifies complex requirements and helps institutions quickly understand and prepare for their obligations under Section 1071.