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.
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 - Based on the annual percentage increase in the CPI-W, the exemption threshold will increase for 2020.
IRAs - The 2020 limit for contributions to Roth and traditional IRAs is $6,000, or $7,000 if you're aged 50 or older, remaining unchanged from 2019. But there are restrictions that could affect how much you can contribute and what you can deduct on your tax return.
FSAs – The contribution limits for flexible spending accounts (FSA) have increased for 2020.
FCRA - Penalties for violations increased for 2020. Institutions may face civil and criminal penalties if they do not comply with FCRA.
HSAs – The contribution limits for health savings accounts (HSA) have increased for 2020.
CAN-SPAM – Penalties for violations increased for 2020. 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 2020. 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.
Appraisal Regulations - The Agencies have jointly issued an amended rule that increases the threshold for residential real estate transactions.
Regulation CC - The CFPB and the Federal Reserve Board issued a final rule regarding inflation-based adjustments to the dollar amounts required by the Expedited Funds Availability Act (EFA Act) and Regulation CC - the EFA Act's implementing regulation.
HR Compliance - Penalties for violations increased for 2020. Institutions may face civil and criminal penalties if they do not comply with HR Compliance laws.
Take a look at regulatory changes and new content coming soon!
Cybersecurity: Risk and Protection – New case studies will be added to Cybersecurity Risk and Protection
Overview of Social Networking – New Social Media Marketing Industry Report