Description
Through self-paced courses, solidify a foundational understanding of general lending compliance, and gain the ability to identify and respond within these core regulations.
What You’ll Learn
- Understand key lending regulations
- Identify and respond to lending compliance requirements
- Apply knowledge of regulations and laws within general lending compliance
Required Courses
You must complete the following courses for compliance professionals:
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Credit Card Regulations for Compliance Professionals
Obtain a basic understanding of regulations specific to credit card, as well as applicable open-end credit regulations. Learn about the compliance requirements at various stages in the credit card process, along with other institutional concerns that fall outside of the process.
What You’ll Learn
After completing this course, students will be able to:
- Describe credit card marketing requirements, including requirements under Regulation Z and Regulation B
- Explain application and solicitation requirements, including requirements for direct mail, electronic, and telephone solicitations
- Describe underwriting and account opening requirements, including verification of customer information requirements under the USA Patriot Act
- Identify account management requirements, including requirements under Regulation Z
- Describe other institutional concerns, including requirements under the Community Reinvestment Act and Right to Financial Privacy Act
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Loans to Insiders (Reg O) for Compliance Professionals
Provides a way to obtain a strong knowledge of Regulation O, which governs loans that a bank makes to its insiders (i.e., executive officers, directors, principal shareholders and their related interests). Describes who the regulation applies to, the manner in which its provisions apply to various insiders, and the records that must be maintained.
What You’ll Learn
After completing this course, students will be able to:
- Identify parties and transactions covered under Regulation O
- Describe basic restrictions and limitations under Regulation O
- Explain the reporting and recordkeeping requirements of Regulation O
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Reg Z Foundations and Closed-End Non-Mortgage Credit for Compliance Professionals
This course helps compliance professionals develop a strong understanding of financial institution compliance with the Truth in Lending Act (TILA) and Regulation Z particularly as it relates to closed-end non-mortgage credit. Along with learning which types of loans and lines of credit are covered or exempted from the regulation, the course details the proper and timely disclosure elements for covered loans, including specific information such as: finance charges, annual percentage rate, pre-paid finance charges and related exceptions. The course also covers special provisions for loans secured by real estate and disclosure requirements for refinancing. In addition, the course addresses Regulation Z requirements for advertising closed-end credit.
What You’ll Learn
After completing this course, students will be able to:
- Describe the overall organization of Regulation Z provisions
- Identify the types of closed-end non-mortgage loans that are covered by or exempted from Regulation Z
- Explain the timing and format requirements for closed-end credit disclosure documents
- Describe the requirements for finance charge disclosures
- Explain how to properly disclose pre-paid finance charges to borrowers
- Identify when refinanced loans require disclosures
- Describe Regulation Z advertising requirements for closed-end loans
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Fair Credit Reporting Act (FCRA) for Compliance Professionals
Recognizing consumer protection is a hot topic, this course provides the key conceptual and practical information necessary to successfully apply the FCRA and Fair and Accurate Credit Transactions Act (FACTA). It covers key terms, processes, notices, disclosures, regulatory issues and risk mitigation strategies.
What You’ll Learn
After completing this course, students will be able to:
- Describe the specific limitations on obtaining and using medical information in credit decisions
- Explain the restrictions on sharing data obtained in consumer financial reports, and the consumer’s rights of notification and choice in this matter
- Cite the consumer notices and disclosures that are required when credit decisions are made using data from a consumer financial report
- Develop and implement an appropriate response process for your institution when information in a consumer report is disputed
- Explain the rights and responsibilities of consumers, furnishers and CRAs when fraud alerts are placed on a consumer report
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Equal Credit Opportunity Act (ECOA) for Compliance Professionals
Learn major aspects of ECOA/Reg B from application taking through underwriting and evaluations, to notice and record-keeping requirements. Discover basic requirements of the Fair Housing Act, and rules for furnishing of credit information, record retention, collecting government monitoring information, providing appraisal reports, and conducting self-testing.
What You’ll Learn
After completing this course, students will be able to:
- Describe the purpose of the ECOA and the Fair Housing Act, and define key terms used in each
- Identify Regulation B rules relating to the application process, from taking applications to notification of action taken
- Describe Regulation B rules relating to the furnishing of credit information, record retention, collecting government monitoring information, providing appraisal reports, and conducting self-testing
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Reg Z Open-End Credit for Compliance Professionals
Reviews the open-end portion of Regulation Z, including history, purpose, coverage, and disclosures. Explains rules relating to billing errors, crediting payments, credit balances, and advertising.
What You’ll Learn
After completing this course, students will be able to:
- Describe the history and purpose of Regulation Z
- Identify credit transactions covered under Regulation Z
- Explain disclosure requirements for applications and solicitations, account opening, change in terms, periodic statements, and other subsequent disclosures
- Describe requirements for billing error resolution, crediting of payments, and treatment of credit balances
- Explain advertising rules for HELOCs, non-home secured transactions, and marketing to college students
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Servicemembers Civil Relief Act (SCRA) for Compliance Professionals
This course provides an overview of the Servicemembers Civil Relief Act (SCRA) and other key legislations which have had an effect on the SCRA. The SCRA and its related legislations define the rights and obligations afforded to servicemembers and their dependents.
The course provides valuable information about the responsibilities of the financial institution to comply with the provisions of the SCRA and related acts in order to protect servicemembers from certain disadvantages while they are serving the country. While the SCRA applies to different types of organizations, the focus in this course will be on the sections directly impacting banks.
What You’ll Learn
After completing this course, students will be able to:
- Describe the history and purpose of SCRA, including how the Act has been updated and modernized
- Describe who is covered under SCRA and a servicemember’s right to waive SCRA protection
- Describe major provisions of SCRA, including interest rate relief; protections on mortgages, leases, and installment loan obligations; and protections from adverse actions
- Describe other legislation that impacts and complements SCRA
- Describe practices to ensure compliance with SCRA
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Military Lending Act for Compliance Professionals
Learn the background and purpose of the U.S. Department of Defense’s Military Lending Act (MLA), along with definitions of important key words used in the regulation. Get the resources needed to determine whether someone is a covered borrower, and hear an explanation of the characteristics of the loans covered under the MLA including loan types, Military Annual Percentage Rate (MAPR) requirements and more.
What You’ll Learn
After completing this course, students will be able to:
- Cover the background and purpose of the MLA
- Discuss characteristics of loans covered by the MLA
- Identify the disclosures that covered borrowers must receive under the MLA regulation
- Explain the penalties for non-compliance
The estimated time to complete the 8 required courses is approximately 8 hours and 25 minutes.
Credits
ABA Professional Certifications: 10.75 CRCM, 6.25 CERP, 2.25 CAFP
2022.08