Program Description:
CFT and CBW have joined forces to deliver this training in a convenient one-evening workshop. We come to you, delivering the latest on compliance. This allows convenience and cost-effective training to your organization.
This workshop covers regulations from the Bank Protection Act, Bank Security Act, US Patriot Act pertaining to obtaining and verifying new customer information, and the privacy provisions of Title V of the Gramm-Leach-Bliley Act. In addition, it also covers a number of related regulations that are impacted by these four major Acts, such as: Fair Credit Reporting Act, Bank Bribery Act, Reg. E, Reg. DD, and the Right to Financial Privacy Act.
What You Will Learn:
Required BSA Training
- Minimum requirements for a Customer Identification Program (CIP)
- Special issues with verifying identity – i.e., opening accounts for non-resident aliens
- OFAC compliance
- Minimum procedures for Anti-Money Laundering (AML) programs
- Currency Transaction Report requirements
- Identify unusual or suspicious transactions
- CTR exemptions requirements for Phase 1 and Phase 2 organizations
- Recommended procedures to minimize the potential for loss of liability
Required Training for Protecting Customer Information
- Reg. P (Privacy of Consumer Financial Information) requirements
- Pending revisions to Privacy Notices; Privacy and Opt-Out Notices
- Right to Financial Privacy Act: how to handle subpoenas and other government requests for customer information
- The FACT Act amendments to FCRA and identity theft procedures
- The federal privacy laws and their impact on financial institution operations
- Recognizing identity theft and pretext calling incidents
- How the “No Call” DATCP rule impacts financial institution operations
- What GLBA requires; privacy notice to customers; exceptions to the privacy notice; understanding the terms used in the regulations
- What frontline employees need to know about the FDIC 364 exam (Information Security) or similar federal regulatory exam
- The minimum procedures required to obtain information and verify the identity of new customers that open “accounts” (US Patriot Act)
- How to verify the identity of various types of businesses and organizations
- Recommended procedures to minimize the potential for loss or liability
Required Compliance Training
- Reg. CC – Expedited Funds Availability Act; recent problems involving counterfeit government checks, cashier’s checks, US Postal Money Orders, and other “low-risk” checks
- Review of Funds Availability rules and Exceptions Holds
- Comparison of ACH and Electronic Check Presentment (ECP): the differences in funds availability, and error resolution after the Check 21 Act
- What frontline employees need to know about resolving errors and problems involving electronic funds transfers, especially ACH and debit card transactions (Reg. E)
- What disclosures a financial institution must make to a consumer before an account is opened or a service is provided (Reg. DD)
- How to respond to oral inquiries about interest rates
- How to provide accurate renewal disclosures for CDs
- When an advertisement is considered inaccurate or misleading
- What are bonuses and when can they be provided
- When and why early withdrawal penalties are waived such as death of the owner
- Recommended procedures to minimize the potential for loss or liability
Required Security Training
- Recent crimes involving financial institutions
- Required element of the written security program
- Mandatory security devices
- Current FBI crime statistics
- Crimes against financial institutions, relevant criminal laws and penalties for violations
- The Suspicious Activity Report and what employees are required to do when they suspect a crime has been or is being committed
- Mandatory and voluntary information sharing among financial institutions under Sections 314(a) and 314(b) of the USA Patriot Act
- Nigerian and other check fraud scams
- Recommended procedures to minimize the potential for loss or liability
Who Should Attend:
This seminar is for all frontline and customer service representatives, as well as more experienced personnel who need a refresher on these mandatory compliance topics.
Presenter:
Jackie Judd has over 25 years banking experience in numerous areas of the industry. She is currently on the Board of Directors 1st United Bank Fairbault. She is a licensed Accident, Health & Life Insurance, and Securities Series 7. Jackie has trained bankers in the upper mid-west for over 10 years.
Registration Information:
To host a seminar, fax or mail this registration form as soon as possible.
To register for a scheduled location, register online and your bank will be invoiced for the total.
Make checks payable to Center for Financial Training (CFT). Withdrawals made prior to the registration deadline will receive a full refund or a credit toward a future CFT seminar. Withdrawals made after the registration deadline will not receive a refund or a credit. Substitutions may be made at any time. No-shows will be charged the full amount.
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