Introduction to Regulation CC and the Expedited Funds Availability Act

Course Description

This training is designed to help banking staff understand the time-frames for customers to be able to draw against funds they have deposited

The law requires banks, when customers deposit funds into their accounts, to tell them how long it will take before the funds are available to them. Staff need to understand these requirements.

This short, single-module course outlines the types of transactions where banks are required to make funds available to customers the next business day, and the exceptions to these requirements. It also covers those transactions that are excluded from the next business day rule. Staff who complete the training will be able to explain these rules to their customers.

The course also introduces staff to the Check Clearing for the 21st Century Act, so they can understand the technology that enables banks to safely comply with the next business day rule.

It gives an overview of the applicable penalties for non-compliance.

Who is this training for?

The course is a suitable introduction forall banking staff who deal with borrowers including credit card holders.

Scenario

Jasmine, who runs a small baby-sitting business from home, needs to make a $500 up-front payment to a new supplier in order to open an account to purchase baby food.

Jasmine has just received a $400 check from a client for the last two month’s baby-sitting and she wants to use the funds from that check to make the deposit payment to her new supplier.

How soon will Jasmine be able to make her payment to the new supplier?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the purpose and function of Regulation CC
  • Give a general explanation of the transactions that have short hold periods
  • Discuss transactions that may have longer hold periods and explain where you can get the details

Introduction to Regulation DD and the Truth in Savings Act (TISA)

Course Description

This training is for banking staff on the information that must be supplied to customers when opening banking accounts

Regulation DD was designed to help consumers make more informed decisions about the accounts they open and so to foster healthier competition between financial institutions, in order to promote financial stability.

This short, one-module course introduces bank staff to the purposes of Regulations DD and TISA. It describes the types of accounts subject to the regulation, the type of information that must be supplied, and the times when it must be supplied. It includes real-lifecase studies.

It also introduces truth in advertising requirements that apply to the sale of savings products.

Who is this training for?

The course is a suitable introduction for all customer-facing banking staff.

Scenario

Jasmine, who runs a small baby-sitting business from home, was handling her finances using her savings account. Because things became more complex, Jasmine decided to open a different account that will allow her to pay her suppliers and invoice her customers more efficiently.

Jasmine is wondering what sort of new account she should open, and which bank she should open it with.

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the purpose of Regulation DD and TISA
  • Describe the types of accounts covered
  • Describe the types of information required to be disclosed to consumers and when it must be disclosed

Salt Adaptive: Delivering Multilingual eLearning Programs for Compliance Training in APAC

Salt Adaptive is a platform that helps APAC businesses deliver effective multilingual eLearning compliance programs

Introduction to Regulation E and the Electronic Funds Transfer Act

Course Description

This training is for bank staff on rights, liabilities and responsibilities of businesses and their customers in electronic fund transfer systems

Much of Regulation E outlines the procedures consumers must follow in reporting errors with EFTs and the steps a bank must take to provide recourse.

Banks’ liabilities with respect to problematic e-payments are a daily cost of doing business. This cost can be minimized if bank staff are properly trained in the various requirements, timelines etc, and are able to advise their customers accordingly. Failure to comply, on the other hand, subjects a bank to significant penalties.

This short, one-module course sets out the rights and responsibilities of consumers and of banks when there is an EFT error. It includes a real-life case study.

Who is this training for?

The course is a suitable introduction for all customer-facing banking staff.

Scenario

Jasmine is checking her bank statement on-line. She notices an entry relating to a $600 purchase three days ago at a fruit and vegetable store in another city. Jasmine has never been to that store.

Jasmine checks further and discovers a few other, smaller purchases that she did not make.

She checks her pocketbook and discovers her debit card is missing. Jasmine realizes that she must have left it in a drug store when purchasing milk last week.

What should Jasmine do to try to get that money back?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the purpose of Regulation E and the Electronic Funds Transfer Act
  • Describe the responsibilities and liabilities of consumers who discover that their debit card may have been lost or stolen
  • Describe the responsibilities of banks when an EFT error is reported to them

Returning to work? Still working from home?

What practical support do you and your team need right now?

Introduction to Regulation Z and the Truth in Lending Act (TILA)

Course Description

This training is for banking staff on their responsibilities and liabilities under the truth in lending law

There are severe penalties for lenders that do not comply with the truth in lending laws – staff training is a crucial part in ensuring that a lending business maintains compliance in this area.

This short, single-module course gives an overview of the many elements of TILA as they apply to both open-end (eg credit card) and closed-end (eg home lending) loans. TILA covers more than the requirement for lenders to provide clear and consistent loan information that allows consumers to make informed decisions about credit contracts. It also covers repayment procedures, right of rescission, limits on fees, dispute resolution, assessment of a borrower’s capacity to service a loan, record keeping, and more. Contact staff need to be aware of all these issues in order to avoid jeopardizing the business’ compliance with the law.

The training also outlines the penalties and other sanctions that apply in cases of non-compliance.

Who is this training for?

The course is a suitable introduction for all banking staff who deal with borrowers including credit card holders.

The Truth in Lending Act was passed in 1968 to help clear up confusion in the credit and lending markets that left most consumers dazed about exactly what they were signing up for.

Debt.org, America’s Debt Help Organization

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the purpose of Regulation Z and TILA
  • Identify the main components and what it covers
  • Recognize required disclosures and when they are used
  • Promote understanding of the penalties for violations of TILA

Retail Banking Workshop – Lending and hardship assistance during the pandemic – regulatory developments and issues

Register for our 7 July online Retail Banking Workshop and Q&A Session – Lending and hardship assistance during the pandemic

Introduction to Risk Management

Course Description

“Everyone can benefit from Risk Management training.”
Alf Esteban, Protecht

We are pleased to offer Protecht’s popular Introduction to Risk Management course. This course introduces the concept and nature of risk as it relates to a range of organisations using a variety of concepts to aid topic understanding.
Chapter 1 identifies the nature and behaviour of risk and explores concepts such as Risk Awareness, Risk Acceptance and the risk lifecycle. It describes how different types of controls minimise risk, and considers the types of risks usually faced by financial institutions.
Chapter 2 considers the aims, objectives and key components of the Risk Management process within an organisation. It expands on the concept of the risk lifecycle, as illustrated by a Risk Funnel chart. It explains the 3 Lines of Defence Model and the various Risk Management Standards and methodologies used globally.
Chapter 3 explores the Risk Management process as defined by ISO 31000 and AU/NZS, and explains how Risk Management tools apply to business processes.

WHO IS THIS TRAINING FOR?

This training is suitable for those seeking an introduction to the field of risk management and those who need to have a broad understanding of risk management.

Course Outline

Module 1 : The nature and types of risk

Module 2 : Risk Management, Frameworks and Standards

Module 3 : The Risk Management Process

People Risk RegTech Solutions in a COVID-19 World

GRC Solutions Managing Director Julian Fenwick has participated in a global RegTech showcase with other RegTech professionals and experts.

Introduction to the Office of Foreign Assets Control (OFAC)

Course Description

This training is for banking staff on how to avoid dealing with sanctioned countries, businesses and persons

There are severe penalties for banks that commit OFAC violations. Staff need to understand how the OFAC works and how to avoid committing violations.

This short, single-module course gives an overview of OFAC, is functions and how it works. The training provides an overview of the Sanctions List and the sorts of individuals and entities that may be included in it.

Learners are introduced to the compliance obligations that OFAC imposes on banks and given information on how they, personally, should act to support the bank in meeting those obligations. The penalties for non-compliance are discussed.

Who is this training for?

The course is a suitable introduction for all banking staff who on-board customers or who handle customer transactions.

Scenario

Jasmine is an executive officer at My Save Bank, which has its head office in Ohio. While undertaking an audit of pending transactions, she discovers a number of large sums of money being transferred to a foreign national in Yemen. Jasmine is concerned that the account name and details look suspicious and are not what My Save Bank would typically deal with.

What should Jasmine do next?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

Course Outline

  • Explain the background and purpose of OFAC
  • Describe who must comply with OFAC
  • Explain the purpose of the SDN list
  • Promote understanding of the penalties for violations, civil and criminal