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Compliance Update: Small Business Lending Rule - "1071 Data Collection"

Wednesday, October 23, 2024

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8:30 AM ET

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10:00 AM ET

Program Description

The final Section 1071 rule was announced in March 2023 from the Consumer Financial Protection Bureau. The rule amends Regulation B to implement changes made by section 1071 of the Dodd-Frank Act. This rule will require financial institutions to collect and report data on small business credit applications, specifically those owned by women or minorities. As your financial institution prepares for compliance, it is important to understand the requirements for this data collection. Attendees of this session will be able to:

- Determine the applicability and effective date of the rule according to the compliance date tiers.
- Recognize the data fields required to be collected and reported.
- Interpret the additional requirements of this rule regarding the firewall and record retention.

Agenda

Registration & Continental Breakfast | 8:30 - 9:00 AM ET

Presentation | 9:00 - 10:00 AM ET

Presenter(s)

Juliya Kofman Greenfield, CAMS, CCBP

Principal, Financial Services Industry Group | RKL LLP

For Juliya Kofman Greenfield, the path to a career in compliance consulting was a natural one. One of her earliest roles with the Office of the Comptroller of the Currency taught her about the Bank Secrecy Act/Anti-Money Laundering (BSA/AML), Home Mortgage Disclosure (HMDA) and Truth in Lending acts. Applying these complex regulations to real-world client scenarios inspired Juliya, and paved the way for career moves to financial institutions, software companies and, ultimately, into consulting for RKL.

A Principal in RKL’s Financial Services Industry Group, Juliya specializes in serving financial institutions through risk assessments, training, compliance review performance, auditing and more. She has deep experience in compliance and risk assessment, specifically consumer, commercial and residential lending reviews, targeted Regulation B, HMDA, Unfair Deceptive Abusive Acts or Practices Act, Regulation E reviews, deposit operations and overdraft product reviews, BSA/AML audits and assessments and website/social media reviews.

For Juliya, being a trusted advisor means listening, taking accountability for one’s work and dedicating time to solving problems – that means no temporary fixes or short cuts. Juliya thrives on navigating new and complex compliance issues to help clients determine the best course of action for their unique circumstances.

Barry Pelagatti, CPA

Partner, Audit Services Group | RKL LLP

With three decades of experience, Barry Pelagatti has been a trusted business advisor to financial institutions throughout the Mid-Atlantic. His noteworthy reputation among this sector stems from his proactive and innovative approach to helping clients manage evolving challenges like cyber risk and regulatory compliance and improve operating efficiency.

As Partner in RKL’s Audit Services Group and leader of its Financial Services Industry Group and Risk Service Group, Barry directs the strategy, growth and management of the firm’s robust spectrum of solutions for banks, credit unions and other institutions, ranging from traditional assurance and tax services to cutting edge capabilities like data security assessments and business continuity planning.

As Managing Partner of RKL’s Exton Office, Barry oversees the general operations for this location and leads the effort to expand the firm’s visibility and impact in the Greater Philadelphia region. Barry’s commitment to client service excellence is also underscored by his cultivation of the next generation of accounting and professional service leaders. Driven to find the best and highest use for each individual’s talent and skillset, he is actively engaged in firm wide mentorship, recruitment and professional development initiatives.

Location

Sheraton Valley Forge Hotel

480 N. Gulph Road

19406

King of Prussia

PA

Event Sponsors

RKL LLP

Credit Hours

Earn up to 1 Hour of CPE Credit.

  • Level:

  • Prerequisites:

  • Advance Preparation:

  • Field of Study:

  • Instructional Method:

  • Length:

Intermediate

None

1 Hour

Specialized Knowledge - Technical

None

Group Live

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For more information regarding administrative policies such as concerns or refunds, call 312-578-1300. FMS is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses. Complaints regarding sponsors may be addressed to: The National Registry of CPE Sponsors, 150 Fourth Avenue, North, Suite 700, Nashville, TN 37219-2417 Web: www.nasba.org.

Refunds and Cancellations

A refund will be provided for cancellations received by FMS in writing prior to one (1) week before the program start date. No refunds will be given for cancellations received after that date. A substitution from your institution is welcome at any time. FMS reserves the right to change instructors or reschedule/cancel sessions when necessary. FMS is not responsible for airfare penalties incurred due to the cancellation of the program. For more information regarding refunds, concerns and/or program cancellation policies, please contact our office at (312) 578-1300.

Cost

Member Rate:

$50

Non-Member Rate:

$65

Send us a message to let us know you're coming, but paying later.

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