 |
|
|
Deposit Compliance Fundamentals 2010
9:30 AM to 4:00 PM (Full Day Program)
In most years this program is a simple review of deposit compliance topics. However, in 2010 there have been so many changes in deposit compliance that it will truly serve as an update program for many attendees.
The program still includes a review of the core regulations that affect deposit side compliance, but it emphasizes:
* Final amendments to Regulation E that prohibit banks from assessing overdraft fees on certain EFTs. The prohibition is not connected to what were previously described as "overdraft protection programs;" it affects all financial institutions. Compliance is mandatory on July 1, 2010.
* Elimination of Regulation CC's concept of a "nonlocal check" that took place in February. This greatly reduces the length of holds placed on items deposited to transaction accounts.
* Publication of a new Model Privacy disclosure for distribution to consumer customers at account inception and annually thereafter.
* Regulation GG delayed once, but currently scheduled to take effect on June 1, 2010.
Attendees learn:
• coverage and exemption rules,
• disclosure requirements,
• recent developments,
• common errors and
• potential liability.
Topics:
• NOW and MMDA accounts (Regulation D)
• Expedited Funds Availability Act (Regulation CC )*
• Electronic Funds Transfer Act (Regulation E)*
•Truth in Savings Act (Regulation DD)
• Privacy Provisions (Regulation P)
* Unlawful Internet Gambling Enforcement Act (Regulation GG)
Why Attend?
Operations personnel need a basic understanding of compliance requirements to:
• maintain “current” status on recent developments,
• avoid violations and
• establish the concept that “compliance” is a basic job responsibility, not an “add-on” to everyday responsibilities.
Attendees receive a 100-page manual that will become their compliance handbook following the program.
Who Should Attend:
The program is designed for operations and contact personnel; content is presented at the basic level.
|
|
|
|
Cart is empty