regulations and compliance Posts

Have Questions About the Small Business Lending Rule? We Have the Answers.

Posted on October 28, 2024 by Baker Hill

The Small Business Lending Rule (SBLR), also known as the section 1071 rule, is a significant development in the financial industry aimed at improving transparency and fairness in small business lending. That’s why we sat down with several of...

Risk & Growth: Two Sides of the Same Coin

Posted on June 14, 2024 by Baker Hill

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

Posted on August 3, 2023 by Baker Hill

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

Posted on August 1, 2023 by Mike Horrocks

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

Posted on July 28, 2023 by Mike Horrocks

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

Posted on May 12, 2023 by Mike Horrocks

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”...