ICBA published a summary of the Consumer Financial Protection Bureau’s recently released Section 1071 final rule ahead of tomorrow’s ICBA briefing on the rule.
Summary: The ICBA summary details the final rule’s scope of coverage, key definitions, compliance dates, collection and reporting procedures, recordkeeping, enforcement, and more.
Briefing: Scheduled for noon (Eastern time) tomorrow, ICBA’s 60-minute webinar will cover key aspects of the new requirements and ongoing ICBA advocacy to mitigate the rule’s impact on community banks.