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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:

Upcoming Updates

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, Office of the Comptroller of the Currency, the Securities and Exchange Commission, the Consumer Financial Protection Bureau, the National Credit Union Administration, and other regulatory authorities.

What’s New?

Focus on Compliance – Providing quality, up-to-date regulatory compliance training to our clients is always at the forefront of Banker’s Academy’s activities, and so, in the effort of developing our ever-expanding library of financial learning, Banker’s Academy is proud to present numerous content updates to our flagship course “Focus on Compliance”!

A number of topics have been revamped to better reflect accurate and reliable information from such sources as the CFPB, OCC, FRB, FDIC, and more!

  • On Learning Link™, the following modules within the course “Focus on Compliance” have been updated:
    • An Introduction to Compliance
    • BSA/AML
    • Regulation P
    • Right to Financial Privacy Act
    • Regulation CC
    • Check 21
    • Truth in Savings Act
    • Regulation D
    • Fair Lending
    • Fair Credit Reporting Act (FCRA)
    • Home Mortgage Disclosure Act (HMDA)
    • Flood
    • Community Reinvestment Act
    • Truth in Lending
    • Real Estate Settlement Procedures Act (RESPA)
    • Regulation O
    • Servicemembers’ Civil Relief Act (SCRA)
    • Anti-Tying and Inter-Affiliate Transactions
    • Bank Bribery
    • Regulation A
    • Regulation E
    • Regulation F
    • Regulation H
    • Regulation I
    • Regulation J
    • Regulation K
    • Regulation L
    • Regulation N
    • Regulation S
    • Regulations T and R
    • Regulation U
    • Regulation X
    • Regulation EE
    • Regulation FF
    • Regulation GG
    • Regulation II
    • Non-Deposit Investment Products
    • Antiboycott Regulations
    • UDAAP
    • The SAFE Act
    • Securities
    • Overdraft Rules
    • CAN-SPAM

Other courses, including FOC CU, FOC MSB, FOC ML, and more, will be updated as well.

Flood – New flood insurance limits are effective this quarter as a result of the passing of the Homeowner Flood Insurance Affordability Act. As a result, we have updated our Flood course to reflect these changes.

  • On Learning Link™, the following have been updated:
    • “Focus on Compliance,” Module “Flood,” topics 1 and 3
    • “Focus on Compliance for Credit Unions,” “FOC for Mortgage Lenders,” “Achieving Commercial Lending Excellence,” “Achieving Consumer Lending Excellence,” Achieving Consumer Lending Excellence for Credit Unions,” “Achieving Mortgage Lending Excellence,” and “Achieving Mortgage Lending Excellence for Credit Unions” have been similarly updated.
  • On Banker’s Academy LMS™, the following has been updated:
    • “Flood” topics 1 and 2

SEC Regulation S – We have added new content to our already substantial repertoire of compliance and regulatory content! “SEC Regulation S” provides an exclusion from the Section 5 registration requirements of the Securities Act of 1933 for offerings made outside the U.S. by U.S. and foreign issuers.

  • On Learning Link™, the following has been updated:
    • “Focus on Compliance,” Module “Regulation S,” topic 2 “SEC Regulation S”
  • On Banker’s Academy LMS™, the following has been updated:
    • “Regulation S” topic 2 “SEC Regulation S”

Looking Ahead

Take a look at regulatory changes and improvements manifesting in the next quarter!

  • Reg CC to be updated this quarter! The Federal Reserve Board has requested comment on proposed amendments to check collection and return rules in order to reflect the growth of the nation’s check collection system. A final rule is expected to be issued this June.
  • The OCC is combining rules and taking names. The Office of the Comptroller of the Currency has issued a final rule, effective June 16, 2014, combining rules related to consumer protection, BSA compliance, appraisals, the FCRA, and more with respect to savings associations. The OCC is also expanding its large bank exam force in an effort to strengthen the supervisory process supervising the nation’s largest and most complex financial institutions.
  •  The CFPB springs into its Spring 2014 rulemaking agenda! The Consumer Financial Protection Bureau has posted its semi-annual update to its rulemaking agenda, touching upon HMDA, debt collection, payday loans, and more. Check out the CFPB blog post here.
  • The Federal Reserve Board is repealing FRB Regulations P and DD. Effective June 30, 2014, the FRB is repealing its Regs P and DD and amending Regulation V (Identity Theft Red Flags), as the CFPB has substantially identical regulations. Read the press release here.

 

In the News 

Keep up to date on the latest information and events in the news!

  • Mortgage Rescission and TILA Implications. In May, the Supreme Court agreed to examine the time bar for residential mortgage borrowers to file suits related to mortgage loan rescissions. Please click here for more information.
  • CFPB and RESPA Compliance. The CFPB is paying closer attention than ever to RESPA compliance procedures. Please click here for more information.
  • Text Messages On the Do-Not-Call Registry. The Connecticut governor is adding text-messages to the do-not-call registry in an effort to derail consumer spending on unwanted text messages. Please click here for more information.

 

  • 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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