Compliance Office Training Series: Federal Consumer Protection and AML Requirements (5 Sessions)

02-11 to 02-20-2025 1:00 PM EST

As a compliance officer, it is your responsibility to ensure your institution complies with all applicable federal, state, and local laws and regulations. Your bank's personnel rely on your knowledge, and your bank's policies and procedures reflect your understanding. To be successful, you must have a thorough knowledge of all consumer credit and anti-money laundering requirements. A successful regulatory compliance program is built on a strong foundation, including a reliable source for explaining and interpreting the regulations and laws your institution must follow.

Our 5-part series is that foundation. The webinar sessions are presented by Justin Muscolino, an experienced bank regulatory compliance trainer. All federal financial institution laws and regulations are summarized and analyzed in the program. Best practices and guidance are also offered for applying these to your institution's products. After completing this series, you will understand all federal requirements and how specific provisions of these laws and regulations apply to your bank's deposit-taking, lending, and operations.

What You’ll Learn

In this highly informative webinar, Mr. Muscolino will discuss:

• A detailed breakdown of key consumer protection and anti-money laundering (AML) regulations, including their application to deposit and lending products and operations.
• How to navigate regulatory updates and incorporate them into your bank's compliance framework to ensure ongoing adherence.
• The importance of implementing compliance procedures in accordance with high ethical standards to mitigate legal, business, and reputational risks.
• Strategies for identifying potential compliance gaps and implementing corrective actions to address these risks efficiently.
• Techniques to communicate complex regulatory requirements effectively within your institution, ensuring all departments understand their compliance obligations.

 Series Objectives and Daily Session Outlines

This 5-day training program provides banks and credit unions with a comprehensive understanding of U.S. consumer compliance regulations. Throughout the series, we will discuss the regulatory framework, recent updates, and enforcement trends impacting financial institutions. Specifically, we will emphasize regulatory requirements related to lending, fair treatment, privacy, and consumer protection, with presentations offering summaries and analyses of individual regulatory requirements, tips for compliance, and how specific regulatory provisions apply to bank deposits, loans, and operations. After completing the series, participants will be able to identify key compliance risks, implement effective control measures, and enhance their institutions' regulatory compliance posture.

Daily Sessions Outline

Session 1: Regulatory Overview and Fair Lending

• Introduction to Consumer Compliance Framework
• Overview of U.S. consumer protection laws
• Key regulatory bodies (CFPB, OCC, FDIC, NCUA)
• Role of community banks and credit unions in consumer compliance
• Fair Lending Regulations
• Equal Credit Opportunity Act (ECOA; Regulation B)
• Fair Housing Act (FHA)
• Community Reinvestment Act (CRA)
• Flood Disaster Protection Act
• Military Lending Act
• Regulation C – Home Mortgage Disclosure Act
• Fair Debt Collection Practices Act

Session 2: Regulatory Overview and Fair Lending Continued

• Regulation G – S.A.F.E. Mortgage Licensing Act – Federal
• Registration of Residential Mortgage Loan Originators
• Regulation M – Consumer Leasing Act
• Regulation O – Loans to Insiders
• Regulation V – Fair Credit Reporting Act
• Regulation X - Real Estate Settlement Procedures Act
• Regulation Z – Truth in Lending Act
• Servicemembers Civil Relief Act (SCRA)
• Case Studies on Fair Lending Violations and Enforcement Actions

Session 3: Truth in Lending and Consumer Protections

• Truth in Lending Act (TILA); Regulation Z
• Disclosure requirements
• Advertising standards
• Right of rescission and mortgage lending
• Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)
• Overview of UDAAP rules and risks
• Identifying and preventing UDAAP violations
• Real Estate Settlement Procedures Act (RESPA) Compliance
• Prohibited practices (e.g., kickbacks, referral fees)
• Case Studies: UDAAP and TILA Violations

Session 4: AML

• Bank Secrecy Act
• Office of Foreign Assets Control
• USA PATRIOT Act
• 311 Special Measures

Session 5: Deposit Compliance

• Electronic Funds Transfer Act (EFTA); Regulation E
• Protecting consumers in electronic transactions
• Error resolution processes
• Home Mortgage Disclosure Act (HMDA); Regulation C
• Overview of HMDA requirements
• Data collection and reporting standards
• Regulation CC – Expedited Funds Availability
• Regulation DD – Truth in Savings
• Regulation GG - Unlawful Internet Gambling Enforcement Act