SBL

Most Section 1071 software demos look the same. A clean sample file goes in, a green checkmark comes out, and nobody in the room learns what happens to your own messy small business applications. This guide is for the compliance officer or lending manager who has to pick a tool before the first collection year starts and then defend that choice to an examiner. It covers who has to file under the rule as revised in May 2026, what the software has to collect, and the tests worth running in a demo before you sign. We sell one of these products, so read the section on Comply SBL as coming from an interested party. The tests apply to every vendor, us included. Key takeaways Test the import first: load a real extract from your loan origination system, with its gaps, and see what the…

Continue Reading ⇢

HMDA, CRA and Section 1071 are three separate federal reporting regimes. HMDA (Regulation C, 12 CFR part 1003) covers applications for dwelling-secured loans. CRA data reporting covers small business, small farm and community development loans at banks above the small bank size. Section 1071 (Regulation B, subpart B, 12 CFR 1002.101 onward) will cover small business credit applications at lenders that originate at least 1,000 a year for two years running. They overlap more than their names suggest. All three hang on a census tract, two of them ask about demographics, and one loan can look like it belongs on two registers when the rules put it on only one. Below, the three sit side by side. Every threshold and date below comes from the current regulation text or the agency notice that…

Continue Reading ⇢

Section 1071 of the Dodd-Frank Act represents the most significant expansion of lending data collection requirements since HMDA. As 2026 unfolds, more financial institutions are entering the compliance timeline, making this an important moment to understand what's required and how to prepare. This guide covers the current state of Section 1071 implementation, who needs to comply and when, and practical steps for building your compliance infrastructure. What Is Section 1071? Section 1071 requires financial institutions to collect and report data on small business lending applications. The goal mirrors HMDA's purpose for mortgage lending: to identify potential discrimination and ensure fair access to credit for minority-owned, women-owned, and other small businesses. The Consumer…

Continue Reading ⇢

• Per Page: 51050All
• Page #: 1