Our Regulatory Compliance Monthly Updates (formerly known as Veterans’ Venues)  are monthly events that always include a summary of any final regulations that have come out during the previous month. They also include summaries of any new proposals, enforcement actions and other matters of interest that come from the regulators or trade groups (i.e. updated exam manuals, any guidance that may be issued etc.). We also include a list of important dates such as effective dates for final regulations, expiration of comment periods for proposals.

1071 Update

The final 1071 rule has been published with narrower coverage and one new effective date of January 1, 2028 for all Financial Institutions that are subject to Reg B*! However, every Financial Institution* must review their covered originations using the new definitions to document whether they must report. Those definitions and the new rules need an explanation and may require new codes and reports so that it is clear whether and when any Financial Institution* must start collecting information for 1071 reporting. The information that must be collected if subject to 1071 and the firewall rules will also be covered.

Presenters: Jennifer Cliber Smith, CRCM, Compliance Anchor Director

Who Should Attend: Compliance Officers, Risk Managers, Mortgage Loan Officers, Mortgage Loan Operations, Deposit Operations, branch Managers, internal audit staff, Customer Service personnel