1:40min | Credits: 2 CRCM
Description: Obtain a basic understanding of regulations specific to credit card, a 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.
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.
After completing this course, students will be able to:
- Describe consumer 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
Reviewed: April 2020 (no updates necessary)