Compliance School (Virtual) – Co-Sponsored by Virginia Bankers Association & North Carolina Bankers Association

Compliance School consists of two tracks, Lending and Deposits, and is designed for entry-mid level compliance personnel.

In 2022, the VBA and NCBA will join together to host the virtual school with a three day Lending track and a one day Deposits track.

Deposits Track

Consumer deposit products, services and delivery methods have changed dramatically due to the Dodd-Frank Act. Regulatory amendments and new interpretations have created an extremely complex deposit environment. This program provides a comprehensive discussion on critical deposit account rules and discusses the implications of UDAAP and the subjectivity of enforcement. Compliance officers and personal bankers will be better prepared to identify solutions in the deposit account front-line sales and operations areas.

Reg D: NOW Eligibility and Reserve Requirements

• Repeal of the withdrawal restrictions on savings and money market accounts
• Regulatory minimum and your bank’s early withdrawal penalty
• What are the reserve requirement rules? How do they impact compliance?
• Interest-bearing DDA vs. NOW accounts – they’re not quite the same.
• Interest premium rules – Do they still matter?

Reg E: Electronic Funds Transfer Act

• Disclosures and notices
• Resolving error claims
• Electronic check conversion
• Customer education
• Remote deposit capture
• Mobile banking
• Foreign remittance rules
• Payroll card and gift card rules
• Examination trends and frequent findings
• Overdraft Opt-ins

Reg CC: Expedited Funds Availability Act

• Disclosures and notices
• Implications of item posting order.
• Common hold notice errors
• Check 21
• Remotely Created Checks

Reg P: Privacy and Information Sharing “Opt Outs”

• Reg P rules
• Model form (01/01/11)
• Connection with FCRA sharing
• Do not market/Do not solicit policies.
• New CFPB annual disclosure rules

Reg S: Right to Financial Privacy

• Government information requests
• Reimbursement

Fair Credit Reporting Act/ID Theft “Red Flags”

• Address discrepancies
• Credit report alerts
• Other “red flags”
• Affiliate marketing
• Annual report

Reg DD: Truth in Savings Accounts (TISA)

• Disclosures and notices
• Unfair, Deceptive, or Abusive Acts or Practices (UDAAP)
• The higher-risk parts of the rules (e.g., inconsistent terminology, products/terms changes)
• Advertising compliance
• Common disclosure errors
• Courtesy Overdraft Programs