Banking Law and Referrals


SKU: 621bf66ddb7c Category:


Banking Law and Referrals explains the purpose of the Interagency Policy Statement and guidelines for bank personnel when non-deposit investment products are recommended or sold to retail customers. This course explains the Interagency Consumer Protections in Sales of Insurance (ICP) rules that apply to retail sales, solicitation, advertising, insurance products or annuities to consumers. It explains the implementation of Regulation R that provides a flexible framework for banks to refer customers to satisfy their banking demands while ensuring consumer protection. This course also describes the Loan Originator Compensation rules under Regulation Z that address limited circumstances under which a bank employee who is not a loan originator may make mortgage referrals.


After completing this course, students will be able to:

• Explain the purpose of the Interagency Policy Statement and when it applies.
• Explain the Interagency Consumer Protections (ICP) rules impacting the referrals of customers for nonFDIC insured products.
• Describe Regulation R exemptions that allow banks to pay bankers for referring customers.
• Describe Regulation Z Loan Originator Compensation rules that specify the actions that only apply to loan originators.

Code: A2009SP
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