Section 1071: Will my Institution be covered?

04/17/23


Content is accurate as of the date of publishing: 04/17/2023

In this Compliance Minute, Victoria Stephen provides a brief overview of the new Section 1071 Final Rule, focusing on whether your Institution may be ā€œcovered financial institutionā€ subject to the new rules.

BankĀ compliance training videos in a short, refresher mode take aim at federal compliance regulations, guidance and rules that out attorneys and compliance officers talk with members about on out Hotline. The C/A Minute videos were created to be a companion to the longer webinars, but focus instead on confusing or misunderstood sections or their applications.

These conversations guide compliance professionals and financial institution staff to better understandings of complex consumer and regulatory banking topics. It’s a compliance tool that almost every member uses every month.

Section 1071: Will my Institution be covered Presentation