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.
Compliance Management System Review
CMS reviews help financial institutions identify gaps in their compliance risk management framework. Each review is unique and can focus on a single law or regulation, or expanded to provide an over-arching assessment across all legal and regulatory requirements.
Over/Under Tables
Wolters Kluwer can provide an overview of a covered institution’s small business and small farm lending activity in low- and moderate-income areas and to small businesses and small farms by Gross Annual Revenue at the assessment area level for each assessment area(s).
No Activity Report
Wolters Kluwer will identify census tracts within a covered institution’s assessment area(s) that have little to no small business or small farm loan activity. The tracts without activity will be listed, including key demographics, assisting covered institutions with understanding census tracts with additional opportunity to lend.
Distribution Map(s)
Wolters Kluwer can create a visual representation of a covered institution’s assessment area(s). Maps can be created highlighting census tracts with a 50% and higher minority population, those census tracts designated at low- or moderate-income. Maps are often used in conjunction with Over/Under Tables and No Activity Reports.
Business Demographics Overview
Wolters Kluwer can provide business demographic information on a covered institution’s assessment area(s) based on the business information from Dun & Bradstreet. This exercise is critical to understand where there is an unmet market need to minority- and women-owned businesses and farms in a given geographical area(s).
Geocoding Services
Utilizing Wolters Kluwer proprietary software, small business and farm data can be batch geocoded to assist covered institutions understand lending by geography that will be subject to Section 1071 using State, MSA, County, Census Tract, and tract income level per transaction. This exercise may be extremely helpful for financial institutions that would like to know how to best comply with the “waterfall” approach for geocoding as set forth in Section 1071.
Fair Lending Risk Review (by Proxy)
Wolters Kluwer will review the covered institution’s (pre-Section 1071) small business and/or small farm data to identify statistically significant disparities in raw and reported data relative to proxy demographic data, identifying disparate treatment by protected class and potential redlining risks. This exercise will be crucial for covered institutions wanting to better understand what their lending tells them before they file their first record under Section 1071.
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.
Compliance Management System Review
CMS reviews help financial institutions identify gaps in their compliance risk management framework. Each review is unique and can focus on a single law or regulation, or expanded to provide an over-arching assessment across all legal and regulatory requirements.
Over/Under Tables
Wolters Kluwer can provide an overview of a covered institution’s small business and small farm lending activity in low- and moderate-income areas and to small businesses and small farms by Gross Annual Revenue at the assessment area level for each assessment area(s).
No Activity Report
Wolters Kluwer will identify census tracts within a covered institution’s assessment area(s) that have little to no small business or small farm loan activity. The tracts without activity will be listed, including key demographics, assisting covered institutions with understanding census tracts with additional opportunity to lend.
Distribution Map(s)
Wolters Kluwer can create a visual representation of a covered institution’s assessment area(s). Maps can be created highlighting census tracts with a 50% and higher minority population, those census tracts designated at low- or moderate-income. Maps are often used in conjunction with Over/Under Tables and No Activity Reports.
Business Demographics Overview
Wolters Kluwer can provide business demographic information on a covered institution’s assessment area(s) based on the business information from Dun & Bradstreet. This exercise is critical to understand where there is an unmet market need to minority- and women-owned businesses and farms in a given geographical area(s).
Geocoding Services
Utilizing Wolters Kluwer proprietary software, small business and farm data can be batch geocoded to assist covered institutions understand lending by geography that will be subject to Section 1071 using State, MSA, County, Census Tract, and tract income level per transaction. This exercise may be extremely helpful for financial institutions that would like to know how to best comply with the “waterfall” approach for geocoding as set forth in Section 1071.
Fair Lending Risk Review (by Proxy)
Wolters Kluwer will review the covered institution’s (pre-Section 1071) small business and/or small farm data to identify statistically significant disparities in raw and reported data relative to proxy demographic data, identifying disparate treatment by protected class and potential redlining risks. This exercise will be crucial for covered institutions wanting to better understand what their lending tells them before they file their first record under Section 1071.
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.
Section 1071 of the Dodd-Frank Act - Small Business Lending Data Collection
As Section 1071 takes form, be on the front end of hearing the details, understanding the requirements, and complying with the regulation. As details are released, we will share expert insights, podcasts, webinars, and downloadable tools, as they are developed.
Begins listopad
16
Konferencja
Compliance
CRA & Fair Lending Colloquium
November 16, 2025 - November 19, 2025
Los Angeles, California
Join Wolters Kluwer for the 2025 CRA & Fair Lending Colloquium with over 1,000 compliance professionals, regulators and other industry experts.
Zobacz szczegóły