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The Consumer Financial Protection Bureau (CFPB) has finalized its updates to Section 1071. The Dodd-Frank Wall Street Reform and Consumer Protection Act section focuses on data collection requirements when lending to small businesses. With the CFPB section 1071 implementation on the horizon, financial institutions must gear up to understand and implement these changes. 

Important Changes from the Proposed Rule (Section 1071) 

The CFPB's notice of proposed rulemaking (NPRM) for CFPB section 1071 in

The purpose of this blog post is to stress the importance of financial education (literacy) by gathering valuable resources that will help both youth and adults get a better understanding of finance.

I chose to write about financial literacy as lack of it represents the basis for most of the legislation and regulation initiatives. With products getting more complex the consumers are more vulnerable to mis-selling. Also, this is no secret consumers may show irresponsibility in their financial deci