WBA SECTION 1071 WORKSHOP

Friday, October 18, 2024 | 9 a.m. to 3:30 p.m. CDT

Madison, WI and Virtual

Register Here

REGISTRATION FEE

The registration fee of $275/attendee includes program registration, instruction and materials, and refreshment breaks and lunch for those attending in Madison.

*Virtual attendance is also available for $275/attendee for those who prefer to attend virtually and/or need to watch the recorded session afterwards. Registration for livestream access provides one connection for the individual who is registered. Additional attendees from the bank who also would like to attend and receive materials should register separately. Each individual virtual attendee can request a verification of attendance upon completion of the program (whether attending live during the livestream or watching the on-demand recording). For those attending via livestream, you will receive access to the recorded session through December 31, 2024.

Refund Policy: A refund, less a $25 administrative fee, is provided for cancellations received in writing to WBA Education on or before Monday, October 14, 2024.

ABOUT THE WORKSHOP

Presented by the Wisconsin Bankers Association, in partnership with Michigan and South Dakota Bankers Associations, this new Section 1071 Workshop will be offered in a hybrid format. You have the option to attend in person at the WBA Office in Madison or attend virtually via livestream*. The workshop will begin at 9:00 a.m. and adjourn by 3:30 p.m. CT.

*We encourage attendees to consider attending in-person for the greatest experience and most efficient networking with peers. However, the virtual option is available for those who are unable to travel for the day or prefer to watch the sessions from their office.*

1071 is back on track and this means that financial institutions need to start getting ready for the new rule. Originally released in March of 2023, the 1071 final rule amends Regulation B to require small business lending data collection and reporting from certain financial institutions. This long anticipated HMDA-like rule will apply to applications from certain “small businesses”, meaning that this rule will generally apply to commercial lending departments and those originating small business loans. One of the biggest challenges with this rule is that the original release by the CFPB is 888 pages long, meaning that it will take some significant amounts of time and work for bankers to both 1) comprehend this rule and 2) figure out how to apply it to their organizations.

This 1071 Workshop is designed to provide attendees with an understanding of the 1071 final rule and how they can start implementing it in their organizations. The workshop will start out with an overview of the 1071 rule, helping attendees understand the larger framework that will be required. After this, we will walk through select aspects of the new rule, including institutional coverage, transactional coverage, implementation deadlines, and a review of the data points that will need to be collected and reported. The program will conclude with a discussion on creating an implementation plan, including a review of steps financial institutions can consider for rolling out the new small business data collection and reporting rule.

The bottom line goal of this seminar is to help attendees understand the core requirements of the 1071 final rule and empower them to create an implementation plan they can use to roll out the new rule in their organizations.

WHO SHOULD ATTEND

This full day workshop would be good for those responsible for assisting in the implementation of the 1071 final rule, including but not limited to compliance professionals, corporate trainers, risk managers, senior lenders, auditors, and anyone else that needs to understand what is required under the 1071 final rule.

ABOUT THE SPEAKER

Adam Witmer is President and CEO of Compliance Cohort, LLC where he writes articles and teaches on all compliance topics. Having taught hundreds of times to thousands of bankers throughout the country, Adam takes a three part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. Adam has found that this "3-E" approach allows students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.

Prior to going full time for Compliance Cohort LLC, Adam held a number of roles in financial institutions both big and small. Most recently, Adam was an executive at a small community bank in Northern Indiana where he oversaw the bank's risk management, BSA, compliance, and audit programs. He has also held positions as a Senior Consultant for a national consulting firm, an AVP and Director of Compliance for a regional multi-bank holding company, a banker at a large national bank, and a loan originator at a mortgage subsidiary of a regional community bank. A Certified Regulatory Compliance Manager (CRCM) through the American Bankers Association, Adam earned his bachelor's degree at Taylor University and his MBA at Indiana Tech. He currently resides in the lake country of Northern Indiana with his wife and three children.