Ensure 1071 compliance while driving efficiency with Finastra’s SBDC module
Lawsuits and Congressional attempts to delay the implementation of the ECOA Small Business Data Collection requirements have been unsuccessful, and the effective dates are rapidly approaching.
Join this engaging webinar to get the latest compliance updates and prepare for the upcoming reporting deadlines.
Secondary Default Finastra Form
LEGAL UPDATE: On November 12, 2025, the CFPB issued a proposed rule which, if finalized, will make substantial revisions to the ECOA small business lending rule. This proposal would narrow the scope of institutions and loans subject to the rule, the number small businesses subject to the rule, the number of data fields to be collected, and would propose a new universal effective data for all lenders of January 1, 2028. Finastra is continuing to monitor this proposal, as well as the ongoing litigation challenging the CFPB's original 1071 rule and will make updates to its SBDC solution as necessary.
Discover the key features of Finastra’s Small Business Data Collection (SBDC) module, designed to simplify the final rule’s requirements.
Still defining your small business workflow? Draw inspiration from sample scenarios that demonstrate how Finastra’s comprehensive module can be seamlessly integrated into your workflow while ensuring compliance with key requirements.
Features included:
- Data Reuse: See how the SBDC module automates the identification of data that qualifies for reuse.
- Monitoring & Auditability: Explore the detailed audit trails and demographic reports that help demonstrate reasonable procedures are in place for proper data collection and compliance.
- Demographic Collection: Learn how the SBDC module simplifies the collection of applicants’ protected, sensitive data through multiple venues, while maintaining data firewall requirements.
