This program focuses on the revised coverage rules under Regulation Z as they apply to private education loans.

On July 30th the Federal Reserve Board approved final amendments to Regulation Z (Truth in Lending) that revise the disclosure requirements for private education loans. The new rules implement Title X of the Higher Education Opportunity Act (HEOA). The rules are effective September 14, 2009, but compliance is not mandatory until February 14, 2010.

The new rules apply to loans made expressly for postsecondary educational expenses but do not apply where educational expenses are funded by credit card advances, or real-estate-secured loans. In addition, the amendments do not apply to education loans made, insured, or guaranteed by the federal government, which are subject to disclosure rules issued by the Department of Education.

Upon Completion of this course participants will understand:

• What transactions are covered by the new Regulation Z rules on private education loans;
• The series of three disclosures required for such loans; and
• The restrictions on using the name, emblem, or mascot of an educational institution in a way that implies that the institution endorses the creditor's loans.

Workshop Resources: This program covers revised Regulation Z as it applies to Private Education Loans. Program participants receive a detailed manual, accompanied by a 1 hour 4 minute video webcast.

Expected Audience: The program is designed for compliance officers, loan officers, auditors and others with consumer lending responsibilities.

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Speaker: Jack Holzknecht, is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-eight years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company.

In that capacity he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.

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