Description
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Lessons Learned – Recent Deposit Compliance Enforcement Actions Webinar Recording
WHAT
The actions required to cure the problems in one institution, are the same steps another institution can take to avoid those problems entirely.
Designed to help you avoid the pitfalls other financial institutions have already fallen into, this two-hour webinar dives into recent enforcement actions, the steps required in response to those actions, and the penalties or costs imposed on the financial institution.
You’ll come away from this session with a clear understanding of recent enforcement actions, common violations, and potential errors related to…
- Electronic Funds Transfer
- Unfair, deceptive, and abusive banking practices
- The Bank Secrecy Act
- OFAC
- Overdraft Practices
- Other topics and trends that arise through new enforcement actions
WHY?
Every month federal financial institution regulatory agencies publish lists of enforcement actions taken against financial institutions. Because each enforcement action tells a story of a failure to comply and defines the necessary actions to remedy the situation, every enforcement action is a lesson to be learned by other financial institutions. We take an in-depth look at recent enforcement actions, outline how to avoid other institution’s mistakes, and circumvent commonly cited issues.
TOP REASONS TO VIEW:
- Avoid costly penalties associated with enforcement actions
- Discover the most commonly cited problem areas in other financial institutions and find out how to steer clear of the same traps
- Learn how self-detection and prompt corrective measures can result in less severe penalties
- Identify trends in recent enforcement actions and what regulators seem to be paying special attention to
- Find out how specific policies, procedures, and training can ensure similar problems don’t occur in your institution
WHO
In addition to compliance officers, auditors, and management, this program is designed for those with responsibilities in deposit operations, including opening, maintaining, and servicing deposit related accounts and products.
Lessons Learned – Recent Lending Compliance Enforcement Actions Webinar Recording
WHAT?
Every month the federal financial institution regulatory agencies publish lists of enforcement actions taken against financial institutions. Enforcement actions can include civil monetary penalties, consent decrees and cease and desist orders, to name a few.
Every enforcement action tells a story of a failure to comply and the actions required to remedy the situation. Every enforcement action is a lesson to be learned by other financial institutions. The actions required to cure the problems in one institutions are the actions required in other institutions to avoid the same problem.
Rarely are the identified problems unique. The stories are repeated month in and month out. Don’t be the next institution to fall into the same trap. Become aware of the problem and then look around to determine if the same problem exists in your institution. If the problem is present, self-detection and prompt corrective action generally results in less severe penalties. If the problem does not exist, take a few simple steps (policies, procedures and training) to assure the problem doesn’t occur in your institution.
WHY?
This two-hour webinar is designed to make attendees aware of recent enforcement actions, the actions required in response to the action and the penalties or costs imposed. It is the hope and intent of Compliance Resource that armed with this knowledge attendees can avoid similar problems.
TOPICS
Recent enforcement actions include, but are not limited to:
- Flood penalties (Multiple cases every month.);
- Truth in Lending reimbursement (A regular on the list.);
- Equal Credit Opportunity Act;
- Fair Housing Act
- Redlining cases (These cases have risen rapidly in recent years. What is the current status?);
- Collection practices in violation of the Fair Debt Collection Practices Act (FDCPA) and the UDAAP (Just when you thought you were safe. FDCPA does not apply to a financial institution collecting its own debt, but UDAAP does apply to an institution collecting its own debt.);
- Loans to insiders in violation of the provisions of Regulation O (Basic procedures help eliminate most Regulation O violations, but never underestimate the deceptive nature of certain insiders.);
- Fair Credit Reporting Act
- UDDAP/UDAP issues related to interest-rate-lock process, forced-placed insurance, deceptive advertising, and more; and
- The list will continue to grow between now and the program date.
WHO?
The program is designed for Loan Department management, Compliance Officers, Loan Officers, Loan Processors, Auditors, and others with responsibilities related to the origination and servicing of loans.
