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Compliance Updates

Compliance & Regulatory

Our 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. We issue what we call our “Compliance Blast,” which provides an in-depth summary of all compliance updates. 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 experts and research consultants have come together to bring you 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. The following list reflects what is new or currently being updated within our training.

What’s New?

Regulation Z – The Consumer Financial Protection Bureau (CFPB) adjusts the thresholds amounts annually for Regulation Z. This training now reflects the new adjusted amounts.

Regulation M - The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) amended the CLA by requiring that the dollar threshold for exempt consumer leases be adjusted annually by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Based on the annual percentage increase in the CPI-W, the exemption threshold will increase for 2019.

IRAs - Limits to annual contributions made to different types of IRAs are often contingent upon individual income and are subject to annual review. The income limit for a Roth IRA has been increased for 2019.

HMDA – This training now has clarified and revised information regarding the specific data that covered institutions are required to collect, record, and report.

FSA – the Internal Revenue Service (IRS) released the annual contributions have increased for 2019.

HRAS – the Internal Revenue Service (IRS) released the annual contributions have increased for 2019.

FCRA - Penalties for violations increased for 2019. Institutions may face civil and criminal penalties if they do not comply with FCRA.

CAN-SPAM – Penalties for violations increased for 2019. Institutions may face civil and criminal penalties if they do not comply with the CAN-SPAM Act.

SCRA – Due to inflation, The SCRA rental properties have increased in 2019. The SCRA prohibits a landlord from evicting a Service member or the member's family from the rental property during a period of military service except by court order. The law requires the Department of Defense to adjust this amount annually to reflect inflation and to publish the new amount in the Federal Register.

Flood- The rule implements a portion of the Biggert-Waters Flood Insurance Reform Act that defines “private flood insurance.” This is meant to provide borrowers with more flood insurance options – which also brings more compliance requirements.

Active Shooter topic added to Workplace Violence - This topic will tell you how to prepare for an active shooter situation, what to do during an active shooter situation, and what to do after an active shooter situation. In this case, being prepared and understanding what to do may save your life and the lives of others.

Looking Ahead

Take a look at regulatory changes and new content coming soon!

Internet of Things – New training added to Cybersecurity Risk and Protection


  • 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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