Resources – Expert Insights, Podcasts, Webinars, and Downloadable Tools

Compliance tier Revised compliance date in the 2023 final rule New compliance date in the 2024 interim final rule New compliance date New first filing deadline
Highest volume lenders (Tier 1) October 1, 2024 July 18, 2025 July 1, 2026 June 1, 2027
Moderate volume lenders (Tier 2) April 1, 2025 January 16, 2026 January 1, 2027 June 1, 2028
Smallest volume lenders (Tier 3) January 1, 2026 October 18, 2026 October 1, 2027 June 1, 2028

CFPB Extends Compliance Dates to implement section 1071 of the Dodd-Frank Act

The Consumer Financial Protection Bureau (CFPB) has extended the compliance deadlines for its Section 1071 Rule, which requires financial institutions to collect and report data on small business lending, particularly for women-, minority-, and LGBTQI-owned businesses. This latest extension, announced in June 2025, adjusts the compliance dates for all three tiers of lenders, with the earliest now set for July 1, 2026, and the latest for October 1, 2027. The decision follows ongoing litigation and court orders affecting the rule’s implementation, giving institutions additional time to prepare for reporting obligations.

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On-demand webinar: Understanding the data – A guide to comply with Section 1071 of the Dodd-Frank Act

Experts will provide attendees with recommendations for updating or developing policies and procedures to ensure compliance and consider operational effectiveness.
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Filing instructions guide for small business lending data collected in 2025

The 2025 filing instructions guide is a set of resources to help you file small business lending data with the Consumer Financial Protection Bureau (CFPB) in 2026 covering the period from July 18, 2025 to December 31, 2025.
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The CFPB is here to stay: What’s next for the small business lending data collection rule?

A recent U.S. Supreme Court ruling on the constitutionality of the premier consumer finance regulator has broad implications, including for new business lending-related requirements.
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Supreme Court rules Consumer Financial Protection Bureau funding structure is legal

Read the ruling released on May 16, 2024
Read the Ruling

Project Planning Tool
The Small Business Lending Rules for Section 1071 of the Dodd-Frank Act

For covered institutions to support and assess compliance with the Consumer Financial Protection Bureau’s Small Business Lending Rules for Section 1071 of the Dodd-Frank Act (“Section 1071”).
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Small business lending data collection rulemaking – Final Guidance Released

Read the Consumer Financial Protection Bureau’s (CFPB) final regulations for the Equal Credit Opportunity Act (ECOA) made to Section 1071 of the Dodd-Frank Act – that requires financial institutions to compile, maintain, and submit to the CFPB certain data on applications for credit for certain small businesses.
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Time is running short to prepare for new data regulations

In an interview with the Scotsman Guide, Tim Burniston, senior advisor for regulatory strategy, shares his insights on preparing for the new 1071 rule.
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Regulatory expert offers initial reaction to new 1071 rule

In an interview with Dodd Frank Update, Tim Burniston, senior advisor for regulatory strategy, Wolters Kluwer, offers his initial reactions to the new 1071 rule, including what changes were made from the draft rule, what clarifications have been given, and what issues are still left unanswered.
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Small Business Lending Under the Equal Credit Opportunity Act (“ECOA”) – Where to Start?

On March 30, 2023, the Consumer Financial Protection Bureau issued a final rule amending its regulations that implement the ECOA pursuant to Section 1071 of the Dodd-Frank Wall Street Reform and Protection Act. Now that they are here, Step 1 is to figure out if and how it impacts your institution.
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Wolters Kluwer Compliance Solutions shares banking rules expertise, noting significant challenges ahead

Several major rules around small business lending data collection—along with modernization of the Community Reinvestment Act—will present significant operational, interpretive and resource challenges for banks as the year unfolds, says Tim Burniston.
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Banks face avalanche of data demands ahead of CRA, CFPB final rules

The Community Reinvestment Act is on the brink of substantial reform, with a final rule expected soon and a 12-month implementation period to follow. A final rule from the Consumer Financial Protection Bureau to implement section 1071 of the Dodd-Frank Act, governing the collection and reporting of small business lending data, has a deadline of March 31.
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Solutions

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Introducing Small Biz Wiz
Small Biz Wiz is designed to meet the data collection requirements of Section 1071 of the Dodd-Frank Act. Built on the trusted platform of CRA Wiz and HMDA Wiz, the system is easy-to-use and easy to add to a financial institution’s data collection processes. Small Biz Wiz will save time and manual efforts in collecting, reporting, and analysis.
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Advisory Conference Room
Advisory Services
Supports compliance with the Consumer Financial Protection Bureau’s Small Business Lending Rules for Section 1071 of the Dodd-Frank Act.
Wolters Kluwer offers consulting services including data preparation and file scrubs, submission support, staff training, regulatory interpretation, operational planning, Compliance Management System (CMS) oversight, and small business Fair Lending risk reviews utilizing industry proven strategies to ensure compliance with complicated regulatory requirements.
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Small Business Data Interface
ComplianceOne® | ARTA Lending | TSoftPlus™ 1071 Small Business Data Interface
Wolters Kluwer is implementing changes in ComplianceOne® Lending, ARTA Lending, and TSoftPlus™ to help you comply, including integrations to pass required data into Small Biz Wiz®.
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Wiz® for CRA, HMDA, Fair Lending, Community Development, and Small Business Section 1071

Ensuring compliance. Enhancing value.
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Small Biz Wiz®

Designed to meet the data collection, reporting, and analysis requirements of Section 1071 of the Dodd-Frank Act.
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Advisory Services

As your financial institution focuses on understanding and implementing the new Small Business Lending Data Collection (Section 1071) compliance requirements, our experts are here to help.
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