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Compliance Updates

Compliance & RegulatoryOur Compliance Specialists maintain a dynamic and chronological database of updates as they are made to our courses, in order to provide our clients with specific and detailed information as to the nature of these updates. Every quarter, we issue what we call our “Compliance Blast,” which provides a detailed account of all compliance updates made in that timeframe. In this manner we keep our clients informed of regulatory changes in the industry that affect their eLearning training.

 

Please review our updates below:

 

The Edcomm Group Banker’s Academy is dedicated to training excellence and compliance in the field of financial services. Our team of legal experts and research consultants have come together to bring you the very latest in updated regulations and notices from the federal banking agencies, including the Federal Reserve Bank, Department of the Treasury, the Securities and Exchange Commission, the Consumer Financial Protection Bureau, and other regulatory authorities.

 

New Information Concerning Gramm-Leach-Bliley Act – This new module will introduce the learners to GLBA, which attempts to update and modernize the financial industry by requiring financial institutions to protect the confidentiality and security of consumer information. The first topic provides a brief introduction into GLBA’s intent concerning information privacy and security. The second topic includes a brief overview of the events and regulations leading up to the creation and implementation of GLBA, while the third topic discusses the essential purpose and functions of GLBA concerning consumers and customers. Lastly, the final two topics contain expositions on important aspects of GLBA, the Privacy Rule and the Safeguards Rule, which concern Regulation P and the importance of safeguarding customer information.

CAN SPAMCAN-SPAM and the Telephone Consumer Protection Act – The new module for Controlling the Assault of Non-Solicited Pornography and Marketing Act of 2003 (CAN-SPAM) will help learners develop an understanding of the role the Federal Trade Commission (FTC) plays in monitoring email with the primary purpose of advertising or promoting a commercial product or service, including content on a website. The topics in this module cover the applications of CAN-SPAM for financial institutions, the examination process, do-not-call rules, and the Junk Fax Protection Act (JFPA), which directs the Federal Communications Commission (FCC) to amend its rules adopted pursuant to the Telephone Consumer Protection Act (TCPA) regarding fax advertising.

The new module for the TCPA addresses the primary law in the United States governing the conduct of telephone solicitations, such as telemarketing. The FCC revised its rules to require prior express written consent for all autodialed or prerecorded telemarketing calls; to eliminate the “established business relationship” exemption for such calls; and to require telemarketers to implement an automated, interactive opt-out mechanism for autodialed or prerecorded telemarketing calls. The topic included in this module addresses the purpose and features of the Act.

USA PATRIOTThe Sarbanes-Oxley and USA PATRIOT Acts – The Sarbanes-Oxley Act (SOX) was passed to restore investor confidence and to establish industry standards as a method of preventing fraudulent accounting activities by corporations. The module concerned with SOX will familiarize the learner with the features and regulations prescribed by the Act; the requirements of financial institutions; details of SOX responsibilities; and other sections of SOX.

The module, USA PATRIOT Act, will present to the learners the provisions and background of the Act, including its purpose in amending the Bank Secrecy Act (BSA) and features of the Act which regulate the anti-terrorism laws in the U.S. The topics included in this module will address a brief history of the Act and its powers introduced by Congress; the ultimate impact of the Act; laws amended by the passage of the Act; and the information regarding the Sunset provisions.

  • We switched to Banker’s Academy over a year ago from a different online training program. The cost savings was tremendous - which has been very helpful in this time of budget cuts. We found that the training content is precise, to the point, and always current. It doesn't have a lot Read More
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