This course explains the basics of Regulation Z, along with the applicability and coverage of Reg Z and what types of transactions are not covered. It explains key terms used in Reg Z and the types of finance charges and items excluded from finance charges.
Note: This course is the mandatory prerequisite for all other Reg Z frontline compliance courses.
After completing this course, students will be able to:
• Explain the purpose of Reg Z
• Examine the importance of APR and finance charges, included on the Reg Z disclosure form
• Explain key terms on different parts of the Reg Z disclosure form
• Identify loans made to consumers that are required to comply with Reg Z
• Examine the penalties for non compliance with Reg Z requirements