SW Members' Small Business Lending Data (1071) Working Group
Gather with your peers to work through the challenges of 1071 compliance!
New Peoples Bank - Board Room
350 W. Main StreetAbingdon, VA 24210
Event Details
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 November 6th.
Location:
New Peoples Bank
Abingdon Board Room
350 W. Main St.
Abingdon, VA 24210
November 6 - 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
For More Information:
1071 Working Group Meeting Dates
- November 6, 2024
- January 9, 2025
- April 10, 2025
- July 10, 2025
- November 13, 2025
Meeting Agenda
- 9:00 am - Breakfast & Registration
- 9:30 am - 12:30 pm - Working Group Meeting