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

Online Learning Takes Off

The Latest GRC Asia report: Online Learning takes off / Consumption-Based Emissions / Latest version of Salt Compliance LMS

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

Not a question of if, but a matter of when: the vulnerability of data in business cyberspace

A moment of complacency, a daydream, or a (well-put-together) phishing email is all it takes for hackers to bypass even the most vigilant staff in your organisation.

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

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

Measuring Compliance Training Effectiveness

In this article, Thomas Fox, Compliance Evangelist based in Houston, TX, addresses the question, “What if you want to take your post-training analysis to a higher level and begin a more robust consideration of the effectiveness of compliance training?”

Introduction to Fair Credit Reporting Act (FCRA)

Course Description

This training covers what banking staff need to know about consumer credit information regulation

Often called Regulation V, the FCRA defines the way consumer credit history can be collected and stored; the purposes it may be used for; and the rights of consumers to access it, monitor its use and seek to correct errors.

Bank staff need to be familiar with the FCRA in order to

  • Understand how the bank may collect and use consumer credit information
  • Know how to assist bank customers in accessing their rights under the legislation

 

This short, single-module course provides an introduction to the way the FCRA works, discusses the various rights that consumers have under the FCRA, and outlines a number of special rights relating to identity fraud.

Who is this training for?

The course is a suitable introduction for all banking staff, particularly those who are customer-facing.

Scenario

Gabriel is considering taking out a loan for $20,000 with Highest Power Finance to cover the purchase of a new car. Before taking out the loan, he wants to check his credit score with Equifax. He receives the report a week later and applies for the loan, but his application is rejected.

What action can Gabriel take under the FCRA in response to his rejected loan application?

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

  • Identify the purpose of the FCRA
  • Understand the key components of the Act
  • Recognize the rights of the consumer
  • Explain penalties for non-compliance under FCRA

So be good for goodness sake: workplace behaviour at end-of-year events

As we head into the silly season, it’s worth keeping in mind that silliness is no excuse for poor standards of behaviour or even misconduct at work functions.

Insider Trading

Course Description

Many organisations have a large number of employees who could come into contact with confidential information that could affect the share price of a listed company.

Are all of your employees familiar with insider trading laws? A person does not need to be an employee of a stockbroker or merchant bank to be caught by these laws.

Many listed companies have a large number of employee shareholders. Those employees should know when they can trade in the company’s shares.

Who is this training for

This training is suitable for anyone who comes in contact with confidential information regarding the share price of a listed company, such as:

  • personal assistants
  • senior managers
  • staff in mail rooms
  • IT departments

Custom courses

We have two versions of this course available:

  • Generic course
  • Insider Trading for Financial Services Organisations

Course Outline

  • Module 1: Introduction to insider trading
  • Module 2: Who is an insider?
  • Module 3:What is trading?
  • Module 4: Trading in Your Companys Securities?