Finastra DFA 1071 Factsheet
Finastra's Small Business Data Collection module is a powerful and innovative solution to help you comply with Section 1071 of the Dodd-Frank Act.
LEGAL UPDATE: On March 4, 2025, the CFPB announced its intention to reissue the ECOA small business lending (“1071”) rule. Existing effective dates are expected to be paused until such revised rule is issued. A revised rule is still expected to include statutorily required elements from Section 1071 of the Dodd-Frank Act including the requirement to collect mandated data including demographic information, the requirement to firewall demographic information and to report data annually to the CFPB. Finastra will continue to monitor rulemaking activity by the CFPB and will provide updates.
Finastra’s Compliance Reporter Small Business Data Collection module is a cloud- native solution that integrates seamlessly with retail lending products including LaserPro, CreditQuest, DecisionPro, and Originate.
Built on LaserPro’s Compliance Reporter, it features intuitive integrated workflows and enables data collection and review in one contained system.
