Description
Self-paced courses to help you demonstrate your deposit compliance knowledge, and learn to identify and respond to compliance requirements, laws and regulations.
What You’ll Learn
- Understand key deposit regulations
- Identify deposit compliance requirements
- Apply knowledge of regulations and laws within deposit compliance
Required Courses
You must complete the following courses for compliance professionals:
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Electronic Funds Transfer Act (Reg E) for Compliance Professionals
Covers the fundamental requirements of the Electronic Funds Transfer Act (EFTA) and Regulation E with examples of dispute resolution application and checklists.
What You’ll Learn
After completing this course, students will be able to:
- Describe the disclosures required by Regulation E and the penalties, and violations for non-compliance
- Define electronic funds transfer error resolution
- Explain how to handle inquiries about customer liability
- Explain the Regulation E rules pertaining to debit cards and ATM overdraft fees, and fee restrictions and expiration dates on gift cards
- Identify the transactions and disclosure requirements covered under the foreign remittance rules
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Expedited Funds Availability Act (Reg CC) for Compliance Professionals
This course covers what Reg CC is and how it affects your customers and your institution. The course also covers basic disclosure requirements and how and when you can place a hold. The course also includes Check 21 and remotely created checks.
What You’ll Learn
By the end of Elements of a Compliance Program for Compliance Professionals, you will be able to:
- Define Explain the types of accounts covered under Reg CC and the verbiage that must be included in a hold notice
- Identify items that are subject to next-day availability and exceptions to next-day availability
- Describe the guidelines for using case-by-case holds and exception holds
- Describe Reg CC requirements relating to check processing
- Identify additional requirements under Reg CC, including disclosure requirements, employee training, and record retention
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Reserve Requirements for Depository Institutions Act (Reg D) for Compliance Professionals
Reviews the fundamental requirements of Regulation D and the types of accounts defined in the regulation, as well as the limits on transfer activity from savings and money market deposit accounts.
What You’ll Learn
After completing this course, students will be able to:
- Describe the purpose of Regulation D
- Identify the key Regulation D requirements for transaction accounts
- Explain the restrictions on savings accounts
- Describe the requirements and withdrawal penalties for time deposits
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Truth in Savings Act (Reg DD) for Compliance Professionals
This course introduces Reg DD and the Truth in Savings Act (TISA), which govern a financial institution’s presentation of deposit accounts to consumers.
The regulation covers everything from marketing a deposit account to disclosures when accounts are opened or changed—the entire life cycle of the account.
Disclosures include fees for deposit accounts, interest rates, annual percentage yields, and other account terms that are required by the regulation.
What You’ll Learn
After completing this course, students will be able to:
- Explain the purpose of TISA and its amendments and identify the types of institutions and accounts covered under Reg DD
- Describe general disclosure requirements under Reg DD
- Describe specific account disclosure requirements under Reg DD, including timing of delivery
- Explain Reg DD disclosure requirements relating to periodic statements and payment of interest
- Describe additional disclosure requirements for overdraft services
- Describe advertising requirements and records retention requirements under Reg DD
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FDIC Coverage for Compliance Professionals
This course is designed for compliance professionals and examines the background and purpose of FDIC insurance coverage. The course explains general rules for insurance coverage and categories. It also provides a tool and examples for calculating insurance coverage and explains FDIC signage and advertising requirements.
What You’ll Learn
- Describe the purpose and the basics of FDIC insurance and your role in ensuring compliance
- Explain the general rules, coverage, and calculation for FDIC insurance
- Describe possible unique ownership scenarios you may face and the insurance coverage for each ownership category
- Explain general information about FDIC signage and advertising
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Federal Benefit Payment Garnishment Rule FFIEC for Compliance Professionals
A financial institution that receives a garnishment order must seize assets, including funds on deposit, to settle an unpaid debt. It must perform an account review to determine whether there is a “protected amount” that is exempt, freeze the protected amount, then seize any unprotected funds up to the amount of the order to tender those funds to the creditor.
Learn how to determine the “lookback period” for an account review and calculate the “protected amount” that is exempt from garnishment. The course also covers continuing garnishment orders, customer notices, fees, considerations for closing accounts, record retention, and consequences for noncompliance.
What You’ll Learn
- Describe a financial institution’s general responsibilities in identifying federal benefit payments that are covered by 31 CFR 212.6 – Rules and procedures to protect benefits
- Determine the lookback period for determining a protected amount
- Calculate the protected amount that is exempt from a garnishment order and the amount available for garnishment
- Explain considerations for the Notice of Right to Garnish Federal Benefits, continuing garnishment orders, customer notices, fees, closing accounts, record retention, and consequences for noncompliance
The estimated time to complete the 6 required courses is approximately 5 hours and 35 minutes.
Credits
ABA Professional Certifications: 7.25 CRCM, 4.25 CERP, 3.00 CAFP, 1.75 CSOP, 1 CFMP