Description:
Whether advertising or deposit product disclosures, the Truth in Savings Act defines the requirements for what we must tell our customers regarding our deposit products and services. However, nothing in the regulation tells us how we must communicate that information to our customers. This leaves the door open for potential customer confusion about a product or regulatory accusations of unfair or deceptive practices. In this session we will consider the regulatory requirements as well as practical considerations for how to comply with the regulation to mitigate our compliance and UDAP risks.
Key takeaways:
- Identify regulatory requirements for advertising and disclosures
- Identify potential compliance risks
- Understand when fine print is acceptable
- Develop a marketing process review
- Distinguish between what is and is not a bonus
- Understand how to avoid illegal lotteries
- Identify special requirements for social media marketing
Presenters:
Brian Crow, CAMS
Brian Crow is managing partner and co-president for TCA Compliance and is a nationally recognized BSA/AML expert with a strong bank compliance management background and a welcome ability to provide focused educational support to TCA client banks. Crow most recently was BSA Administrator for a suburban Chicago bank, where his responsibilities included the bank’s annual assessment and audit documentation. Earlier, as Operations Officer at the same bank, Crow monitored AML activity and helped install automated AML software that allowed the bank to transition from paper to electronic CTRs. His activities were responsible for reducing debit card fraud by 95 percent at the bank. Mr. Crow has been, and continues to be, an education consultant for the Glia Group BOL Learning Connect program. It was in this role that Crow was recognized as a Bankers Online Guru in 2011. Like many of us, Mr. Crow began his banking career as a teller, working his way up to branch management responsibilities. He earned a B.A. degree from Concordia University, River Forest Illinois.
August 26, 2025