Mandatory Compliance Training

Stay ahead of the auditors

When it comes to compliance, the rules are always changing. That is why it is imperative that your employees are up-to-date on the latest compliance regulations by attending the 2010 Mandatory Compliance Training. Here are just a few of the changes that will be covered in this year’s sessions:

  • CTR exempt person changes for non-listed businesses
  • FACT Act Identity Theft FAQs clarified the “Red Flags” rules/guidelines requiring annual training
  • Consolidation of check processing regions down to Cleveland – what is the impact
  • Reg. D changes to the transfer/withdrawal limitation on savings deposits
  • Truth in Lending Act and Home Ownership and Equity Protection Act revised to require early, transaction-specific cost disclosures – employees must understand Seven Day Rule, Three Day Rule, and Mailing Rule
  • NACHA rules changed to incorporate OFAC requirements and international transactions
  • Flood determination violations were the largest source of civil money penalties against financial institutions in WI. ALL lending employees must understand flood insurance requirements.
  • Higher-Priced Mortgage Loan requirements – how to determine if loan application is subject to them
  • ALL staff must be trained on unlawful Internet gambling (Reg. GG) to prevent/prohibit transactions
  • NEW GFE and HUD-1 effective as of 1/1/10 – all loan staff must know requirements
  • Reg. DD change (eff. 1/1/10) requires disclosure of fees and provide balance information for NSF
  • New procedures required for responding to customer request regarding “accuracy and integrity” of information on Consumer’s credit report and/or information given to Credit Reporting Agency
  • New annual Privacy Notice revised, requiring training on new elements of notice

Our 2011 Mandatory Compliance Training will address all of the latest compliance regulations, including the impact on your bank. Attendees will receive an in-depth manual that may be used as a reference guide for compliance with these new written program requirements.

Provide all of your mandatory compliance training in one up-to-date workshop

Having all of your employees up-to-date on compliance issues is an extremely important and overwhelming endeavor. While it is imperative that your employees get trained, it is also critical to have all employees at the bank during normal business hours. The Community Bankers of Wisconsin (CBW) and the Center for Financial Training (CFT) have joined forces to deliver all of the required mandatory compliance training in one evening workshop!

Advantages of being a host bank

At this time we are looking for community banks that would be willing to host this workshop at their bank or local facility. As host bank, you would provide the training room, arrange for a light meal, and mail brochures to local banks and their branches. CFT will reimburse for the meal, provide the brochures to be mailed, provide the instructor, and handle registration, payment, and other administrative roles.

Please review the COMPLIANCE TRAINING BROCHURE-2010. If your bank is interested in hosting a workshop, contact Stephanie Beem at CFT by faxing the form to 414-332-6478 or by email at stephanie@cftncs.org. Host banks will be chosen on a first response basis from each area.

CFT & CBW strongly encourage your bank to attend this seminar. If you are unable to be a host, make sure to have your employees attend a seminar in your area.