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Compliance
CloudComply 1071 delivers a comprehensive solution for collecting & managing required demographic data
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Equipment Finance companies and banks are two industries irreversibly tied together by funding. The partnership is often collaborative, sometimes competitive and sometimes strategic via mergers and acquisitions.
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Since being issued in March 2023, Section 1071 of the Dodd-Frank Act has prompted a lot of discussion about its implications for institutions serving the equipment finance industry. In this Trail Mix installment, we’ll provide a quick overview of what you need to know about Section 1071.
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Compliance
Last month, Tamarack’s Daniel Nelson and Andrew Hedstrom traveled to Washington, D.C., to participate in the annual Equipment Leasing and Finance Association (ELFA) Capitol Connections program. Alongside more than 140 ELFA members, they met with legislators to discuss the key issues facing the industry. We asked them to share their takeaways from the experience.
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Compliance
Support
In March, Tamarack celebrated Tim Appleget and Kevin Gjersvig earning their Certified Lease & Finance Professional (CLFP) designation from the CLFP Foundation. Tim and Kevin were among 20 individuals who sat through the 8-hour online proctored CLFP exam which tests knowledge of business practices within the equipment finance industry.
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Recently, we helped several customers update their systems to be compliant with 80% Bonus Depreciation regulations that went into effect on January 1, 2023.
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