Frequently asked questions about the DFA 1071 small business lending rule
Finastra has created this FAQ document to inform you about the small business lending rule's key considerations.
LEGAL UPDATE: On February 7, 2025, the Fifth Circuit Court of Appeals issued an Order pausing the mandatory effective dates of the final 1071 rule. The Court's Order also provides that effective dates must be extended for the time this stay is in place. This stay and tolling by the Court only applies to the parties to the underlying case and their members. While this order delays the effective dates of the 1071 final rule, it does not modify or eliminate the 1071 final rule itself. That remains pending the outcome of the appeal to the Fifth Circuit.
Learn about who must comply with the rule, significant dates of which financial institutions need to be aware, and what types of clients qualify for the 1071 rule.
