Small Business Lending Data (1071) Working Group

Purpose of the Group:

Discuss the implementation of Small Business Lending Data (1071)! Each meeting will cover a certain topic. Please come prepared with ideas and challenges you are facing. Generally, there will not be a presenter. This group is not designed to teach detailed technical compliance, but instead will use the collected knowledge and expertise of group members to help each other solve problems in their implementation efforts. 

Registration: 

Attendees can register for all five sessions at once or on an individual basis starting with the first session on October 17th.

Location:
VACB Office 
7204 Glen Forest Drive Suite 101
Richmond, Virginia 23226

October 17 - Identifying 1071 Reportable Applications

• Determining your compliance dates
  • Determining what applications are reportable
  • How to exclude HMDA loans (especially if not a HMDA reporter)
• Documenting an application
  • Number of employees
  • Revenue
  • NAICS code
  • Amount applied for
  • Clearer loan purpose
• Notice of action/adverse action