Answer:
As you’re probably aware, implementing the changes needed to comply with Section 1071 of Regulation B will require a full compliance management program, including new policies, procedures, training, auditing, and will impact budgeting for several years. In addition to key definitions, effective dates, and the required data fields, you’ll come away from this session understanding…
Which types of transactions are exempt from reporting.
The tolerances applied to the collected data.
How to report data to the CFPB.
Important recordkeeping requirements.
print
share