Blog Posts in category: regulations and compliance

Risk & Growth: Two Sides of the Same Coin

In a recent article in the Financial Brand, Dr. Wendy Smith, the Dana J. Johnson Professor of Business, faculty director and co-founder of the Women’s Leadership Initiative at the University of Delaware advised banking leaders to steer between competing priorities...

The “Do’s” of Preparing for Dodd-Frank 1071

In banking, keeping up with compliance is a full-time job and Section 1071 is the latest example of that. At the end of March 2023, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited final rule to implement Section 1071...

Texas Hold 'Em or Fold 'Em: Section 1071 CFPB Small Business Lending Rule

Yesterday, July 31, the U.S. District Court for the Southern District of Texas issued a limited preliminary injunction on the Small Business Lending Rule (Section 1071) for banks that are part of the Texas Bankers Association (TBA) and/or the American...

Embracing Section 1071: A Win-Win for Banks and Borrowers

There are things I like to embrace. I have five kids and an amazing wife, and they know I am a hugger. I have some of the best life-long friends; they also know that I like to wrap my arms...

The Four “Don’ts” of Section 1071 and How They Will Help Your Bank

At a press conference on August 12, 1986, United States President Ronald Reagan said, “The nine most terrifying words in the English language are ‘I’m from the government and I’m here to help.’” It may have started as a “joke”...

We Had a Chance to Sit Down With the CFPB and the Only Topic on Bankers’ Minds is Section 1071

Baker Hill along with all Financial Institutions in the country have all eyes focused on the final rule of section 1071 of the Dodd-Frank Act that was announced on March 30, 2023. During Baker Hill’s annual Prosper Conference in Scottsdale,...
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