Section 1071 of the Dodd-Frank Act governs the collection of small business lending data. Under this Section, covered banks and credit unions must compile, maintain, and submit specific data on applications from women-owned, minority-owned, and small businesses to the Consumer Financial Protection Bureau (CFPB).
Download this document to learn more about the regulation, compliance deadlines, and how Alogent’s comprehensive suite of process automation solutions, including AccuAccount and FASTdocs, are designed to meet the new Section 1071 requirements.
DOWNLOAD THE DOCUMENT HERE