Summary - Compliance with Deposit Regulations

Learn how to interpret deposit compliance regulations... Improve your deposit program compliance... and learn how to avoid costly penalties.

Deposit compliance is a complex topic that involves a significant number of employees at most financial institutions. The various federal laws and regulations relating to deposit compliance establish requirements for initial disclosures that must be given to new customers (and in some cases, upon request to inquiring non-customers), periodic disclosures after the account is opened, overdraft disclosures and opt-in provisions, error resolution procedures including foreign transactions, and restrictions on advertising.

Compliance with Deposit Regulations provides a simple and effective way to bring key personnel up to date on current federal regulations. The major federal regulations governing deposits are explained in plain, easy-to-understand language. Walk away knowing what your institution needs to do to improve compliance.

Customer Identification Procedures
- Customer information required to open an account
- Methods for verifying identity
- CIP recordkeeping requirements
Customer Due Diligence/Beneficial Ownership Rule
Regulation D
- Key changes to reserve requirements
- The removal of transaction limitation rules for certain types of accounts
- Transaction, savings and time account definitions and requirements
Electronic Funds Transfer Act/Regulation E
- Initial disclosure and overdraft disclosure requirements
- How to handle a customer’s stop payment request
- When liability can be imposed on the customer for unauthorized transfers
- How to comply with the error resolution procedures
Expedited Funds Availability Act/Regulation CC
- Determine availability schedule for next-day and delayed availability institutions
- Learn how and when to use case-by-case and exception holds
- Initial notice and delayed availability notice requirements
- Responsibilities when handling returned checks
Truth-in-Savings Act/Regulation DD
- How to have accurate and consistent initial disclosures
- What information must be on advertisements for deposit products
- Subsequent and periodic disclosure requirements
Fair Credit Reporting Act Deposit Issues
- What specifically is meant by “consumer report”
- The only situations under which a consumer reporting agency may furnish a consumer report
- Critical steps you must follow if your institution takes adverse action based on a consumer report
- Key areas in which the FACT Act affects deposit accounts
Advertisement of Membership
- Deposit insurance coverage, signs and advertising requirements
- The rules related to proper display of membership signs at offices
- Permissible ways to broadcast your FDIC or NCUA membership
- The types of advertisements that do not require an official FDIC or NCUA statement
- NCUA official sign, advertising statement and exclusions from the advertising requirements
Bank Sales of Non-Credit Related Insurance
- What you can – and can’t – do when selling an insurance product or annuity
- Disclosures that must be made to a prospective buyer of an insurance product
- Permissible ways to reward employees for generating insurance sales leads
Responding to Customer Complaints and Inquiries
- The regulations with complaint and inquiry requirements
- How to establish a system for responding to complaints
Unfair, Deceptive or Abusive Acts or Practices (UDAAP)
- Determining what is unfair or deceptive
- Determining what is abusive
- Managing risk for advertisements and consumer complaints
Garnishment of Accounts Containing Federal Benefit Payments
- Initial action upon receipt of garnishment order
- Account review
- Procedures to protect benefits
- Notice to the account holder

Attendees: $445

Each Additional Attendee: $395

Registration Policy: ProBank Education Services permits one participant per paid registration to access the program via a single internet connection at one physical location. Additional registrations are available at a discounted rate and may be registered online, by mail, or phone. Group viewings are not permitted. All unregistered participants will be invoiced. Please note we reserve the right to change speakers or reschedule/cancel seminars when necessary.