Now that the Consumer Financial Protection Bureau has finalized the rule on Section 1071 of the Dodd-Frank Act, the equipment finance industry must prepare for compliance with the rules and reporting requirements. This webinar will present the data requirements and formats that ELFA members need to know.
The webinar will cover:
Section 1071 and what transactions are covered
Required discrete data fields and the CFPB report format
A discussion on how different organizations might capture, process and report data to the CFPB
A discussion on how some finance institutions might change operationally to comply with the data segregation requirements of Section 1071
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