Description
20min | Credits: 0.50 CRCM
Note: The Reg Z Overview course must be taken at least once before any other Reg Z course is attempted.
Discusses types of open-end non-home secured lines of credit other than credit cards. Reviews disclosure requirements, periodic statement requirements, change in terms notices, payment processing rules, and liability for non-compliance.
Audience: Branch staff (lenders, CSRs Call Center, personal bankers) who takes consumer line of credit applications (such as overdraft lines of credit) or discuss loan products with consumers. For some banks, this course may also be applicable for tellers making referrals to the platform.
Learning Objectives
After completing this course, students will be able to:
- Understand the meaning of open-end credit that is not secured by a dwelling and is not a credit card:
- Explain the following as they pertain to personal lines of credit that are not credit cards and are not secured by a dwelling:
- Requirements for account-opening disclosures
- Requirements for periodic statements
- Change-in-terms notice requirements
- Rules regarding payments on lines of credit
Prerequisites: Reg Z Overview
This course is part of the ABA Frontline Compliance program.