The collection of small business lending data is governed by Section 1071 of the Dodd-Frank Act. This Section requires covered financial institutions to compile, maintain, and submit certain types of application data to the CFPB (Consumer Financial Protection Bureau).
Continue reading about Section 1071.
Alogent provides proven, end-to-end check payment processing, digital, online, and mobile banking, and enterprise content and information management platforms to financial institutions. Our unique approach spans the complete transaction ecosystem —capturing and digitizing transaction data, exception tracking, and automating entire transaction and loan management workflows so that information is available across the enterprise.
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