Call Now : 888.433.2666 or Contact Us

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?

Amendments to CACR and EAR – In December 2014, the President announced a set of diplomatic and economic changes to chart a new course in U.S. relations with Cuba and to further engage and empower the Cuban people. In January, the U.S. Department of the Treasury and the U.S. Department of Commerce announced revisions to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR).

  • On Banker’s Academy LMS™, the following courses have been updated:
    • AML Requirements
      • Topic 5 “Office of Foreign Assets Control (OFAC)”
    • MSBs: AML Requirements
      • Topic 5 “OFAC”
  • On Learning Link™, the following courses have been updated:
    • Focus on Compliance
    • FOC for Credit Unions
    • FOC for MSBs
    • Focus on BSAAML for FIUs
    • Focus on BSAAML Operations
    • Focus on BSAAML Branch Management
    • Focus on BSAAML eBanking
    • Focus on BSAAML Lenders
    • Focus on BSAAML Platform
    • Focus on BSAAML Tellers
    • Focus on BSAAML Board of Directors and Senior management
    • Focus on BSAAML Retail
    • Focus on BSAAML Small Businesses
    • Focus on BSAAML Trust
    • Focus on BSAAML Wholesale
    • Focus on BSAAML Capital
    • Focus on BSAAML International
    • Focus on BSAAML CU FIU
    • Focus on BSAAML CU Operations
    • Focus on BSAAML CU Branch Management

Cybersecurity updates – In our efforts to continue bringing you the most robust course offerings, Edcomm Banker’s Academy has added supplemental information and updated the course title to better reflect current trends and policies.

  • On Banker’s Academy LMS™, the following course has been updated:
    • Cybersecurity: Risk and Protection
      • Topic 1 “Cyber Terrorism, Warfare, and Espionage”
      • Topic 3 “Case Studies”
      • Topic 4 “Protecting the Organization”
      • Topic 5 “Federal Countermeasures”

Subject Matter Expert (SME) updates – Edcomm Banker’s Academy continually has SMEs review course offerings as part of our process for continuing education and improvement. To that end, we have updated several courses with information clarifying various laws and regulations.

  • On Banker’s Academy LMS™, the following courses have been updated:
    • Regulation Z: Truth in Lending Act (TILA)
      • Topic 1 “Truth in Lending Act”
      • Topic 2 “Coverages and Exemptions”
      • Topic 3 “Finance Charges”
      • Topic 4 “TILA Disclosures”
      • Topic 5 “Open-End Credit Requirements”
      • Topic 11 “Ability-to-Repay/Qualified Mortgage Rule”
      • Topic 12 “TILA Servicing Requirements”
    • Real Estate Settlement Procedures Act (RESPA
      • Topic 1 “RESPA”
      • Topic 3 “Required Disclosures”
  • On Learning Link™, the following courses have been updated:
    • Focus on Compliance
    • FOC for Credit Unions
    • FOC for Mortgage Lenders
    • FOC for MSBs
    • Achieving Commercial Lending Excellence
    • Achieving Consumer Lending Excellence
    • Achieving Consumer Lending Excellence for Credit Unions
    • Achieving Mortgage Lending Excellence
    • Achieving Mortgage Lending Excellence for Credit Unions
    • Achieving Platform Excellence
    • Achieving Platform Excellence for Credit Unions
    • World of Banking

TRID effective date changes - In 2013, the Consumer Financial Protection Bureau (CFPB) issued several rules to address the changing mortgage lending climate. One such rule was the “Know Before You Owe” rule, which requires easier-to-understand disclosure forms that clearly detail the terms of a mortgage for a homebuyer. The new forms and various requirements were to be effective August 1, 2015; however, due to an administrative error, the CFPB pushed the effective date to October 3, 2015.

  • On Banker’s Academy LMS™, the following courses have been updated:
    • Regulation Z: Truth in Lending Act (TILA)
      • Topic 1 “Truth in Lending Act”
      • Topic 4 “TILA Disclosures”
    • Real Estate Settlement Procedures Act (RESPA)
      • Topic 1 “RESPA”
      • Topic 3 “Required Disclosures”
  • On Learning Link™, the following courses have been updated:
    • Focus on Compliance
    • FOC for Credit Unions
    • FOC for Mortgage Lenders
    • FOC for MSBs
    • Achieving Commercial Lending Excellence
    • Achieving Consumer Lending Excellence
    • Achieving Consumer Lending Excellence for Credit Unions
    • Achieving Mortgage Lending Excellence
    • Achieving Mortgage Lending Excellence for Credit Unions
    • Achieving Platform Excellence
    • Achieving Platform Excellence for Credit Unions
    • World of Banking

HUD guidance for Fair Housing Act – In July 2015, the Department of Housing and Urban Development issued guidance and technical assistance clarifying the Equal Access Rule regarding housing in HUD programs.

  • On Banker’s Academy LMS™, the following course has been updated:
    • Fair Lending
      • Topic 2 “Fair Housing Act”
  • On Learning Link™, the following courses have been updated:
    • Focus on Compliance
    • FOC 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
    • Achieving Mortgage Lending Excellence for Credit Unions
    • Achieving Platform Excellence
    • Achieving Platform Excellence for Credit Unions

USA Freedom Act passes – The USA Freedom Act was signed into law on June 2, 2015 to address many of the expiring provisions of the USA PATRIOT Act, further expand civil liberties, improve transparency and better information sharing with the American people, and to strengthen national security.

  • On Banker’s Academy LMS™, the following courses have been updated:
    • BSA Requirements
      • Topic 14 “USA PATRIOT Act”
    • USA PATRIOT Act
      • Topic 4 “Sunset Provisions”
    • MSBs: AML Requirements
      • Topic 4 “USA PATRIOT Act”
    • BSA Requirements for RMLOs
      • Topic 3 “RMLOs and USA PATRIOT Act”
  • On Learning Link™, the following courses have been updated:
    • Focus on Compliance
    • FOC for Credit Unions
    • FOC for Mortgage Lenders
    • FOC for MSBs
    • Achieving Commercial Lending Excellence
    • Achieving Consumer Lending Excellence
    • Achieving Consumer Lending Excellence for Credit Unions
    • Achieving Mortgage Lending Excellence
    • Achieving Mortgage Lending Excellence for Credit Unions
    • Achieving Platform Excellence
    • Achieving Platform Excellence for Credit Unions
    • Achieving Teller Excellence
    • Achieving Teller Excellence for Credit Unions
    • World of Banking

NEW COURSE: "EMV" – The Edcom Group Banker's Academy is proud to present the newest addition to our robust catalogue of courses, "EMV." The EMV course will introduce learners to the Europay, MasterCard, and Visa (EMV) global technical standard for payment cards, which covers the processing of credit and debit card payments using a card containing a microprocessor chip. The course will also familiarize learners with the October 2015 liability shift. 

  • The course has been created on or as part of the following:
    • Banker’s Academy LMS™ as "EMV" (1 topic)
    • Learning Link™ as a module "EMV" (1 topic) in: 
      • Focus on Compliance
      • Focus on Compliance for Credit Unions
      • Focus on Compliance for MSBs

Looking Ahead

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

  • Amendment to the GLBA – On June 24, the Federal Trade Commission published a proposal to amend the Privacy of Consumer Financial Information Rule (Privacy Rule or Rule), which among other things requires that certain motor vehicle dealers provide an annual disclosure of their privacy policies to their customers by hand delivery, mail, electronic delivery, or, alternatively through a Web site, but only with the consent of the consumer. The amendment would allow motor vehicle dealers instead to notify their customers that a privacy policy is available on their Web site, under certain circumstances. Comments for this rule close on August 31st, 2015. More information can be found here.
  • Semiannual Regulatory Agenda published by CFPB – In June, the Consumer Financial Protection Bureau (CFPB) published its semiannual regulatory agenda as part of the Spring 2015 Unified Agenda of Federal Regulatory and Deregulatory Actions. Between May 1, 2015 and April 30, 2016, the CFPB is planning to address the implementation of Dodd-Frank Act mortgage protections. More information on these anticipated regulatory changes can be found here.
  • Equal participation of faith-based organizations in HUD programs – In August, the Department of Housing and Urban Development published a rule proposing to revise HUD’s regulation covering the equal participation of faith-based (religious) organizations in HUD Programs, including all of HUD's Native American Programs, as well as several program-specific regulations regarding the equal participation of faith-based organizations. These revisions are being undertaken to implement Executive Order 13559, Fundamental Principles and Policymaking Criteria for Partnerships with Faith-Based and Other Neighborhood Organizations. Comments close on October 5, 2015. More information can be found here.
  • 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
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129