Recorded: December 9, 2021

If you are one of thousands of community bankers concerned about the CFPB’s proposed rule on Small Business Loan Data Collection (Section 1071), now is the time to voice your opinion! The proposed Section 1071 will require community banks that originate 25 or more small business loans in each of the two preceding calendar years to collect and report data on credit applications made by small businesses. Although ICBA asked CFPB to exempt certain financial institutions, the Bureau is not proposing any exemptions aside from the loan volume threshold of less than 25 loans per year. ICBA encourages all community bankers to make your voices heard and submit a comment letter to the CFPB. To make certain your comment letter gets noticed, join ICBA regulatory experts for this briefing to learn tips on how to tailor your letter. Leave this briefing with specific tools and guidance on how you can make your comment letter unique to your bank and in turn, garner the Bureau’s attention. For community banks with small business customers who have expressed concern with Section 1071, the presenters will share best practices on how to support your small business customers who may also wish to submit a comment letter. Now is the time to act as comment letters are due to the CFPB by January 6, 2022!