Because of the constant change in compliance regulations, staying compliant is a challenging, never-ending process. Luckily, ICBND offers a comprehensive compliance support program: Community Bankers for Compliance (CBC) Sponsored by Young and Associates, Inc., this program gives your bank the resources and support it needs to stay compliant.
Community Bankers for Compliance Program Membership
When you enroll your bank for annual membership in the CBC, you can decide which of your employees will participate in each session. Membership includes:
- two live two-day sessions
- quarterly regulatory update webinars
- a subscription to the Compliance Update monthly newsletter
- access to the members-only section of Young & Associates’ website
- and exclusive access to the compliance experts at Young & Associates, Inc. (COMPLIANCE HOTLINE-at no additional cost).
FALL SESSION - Live Regulatory Seminar - Community Bankers for Compliance Program
September 25 & 26, 2018 Ramkota Hotel and Conference Center, 800 S 3rd St, Bismarck ND
Day 1: Regulation Z: TRID including all Summer 2018 and October 1, 2018 Changes
Just when we think we have a regulation learned, the CFPB changes the requirements. This happens frequently, and TRID, unfortunately is no exception. Day 1 of the next CBC seminar will focus on a review of the entire regulatory text as it impacts TRID. The manual will divided into TRID Timing, the Loan Estimate, and the Closing Disclosure. It will include all
changes that can be made any time, but must be in place soon. While most of the changes are clarifications, there is some new material to review. We discussed those changes in a previous session, but they were not discussed in the context of the entire regulation. This session will accomplish that goal.
We will cover each provision of the regulation in detail, with emphasis on the practical implications of the changes. Included will be the entire regulatory text and commentary, as well as our discussion of the requirements you must meet.
The subjects for the regulatory update will be determined by circumstances and releases from the various agencies.
Who Should Attend
Compliance Officers should attend this session. In addition, all personnel with responsibilities for mortgage lending, including management, lenders, and processors should attend. Senior management, auditors, and others should also consider joining us for this session.
AGENDA DAY 1-TRID
TRID Timing Issues
The Loan Estimate – field by field
The Closing Disclosure – field by field
Day 2: HELOCS (Regulation Z), Customer Identification Program vs Customer Due Diligence
We have not covered the issue of Home Equity Lines of Credit (HELOCs) within the CBC for a long time, as many customers have not had a lot of equity due to property values being depressed. As property values are rebounding, and customers are interested in lower cost credit, HELOCs are making a resurgence. In our reviews in banks, we are seeing some problems, which could impact all institutions. It appears that it is now time to address the issues of HELOCs once again.
The last portion of the presentation will be a comparison of the new Customer Due Diligence rules and the long-standing Customer Identification Program rules. There remains much confusion, as they re similar, but not the same. Included will be any updated information as published by FinCEN. They have promised clarifications by early August.
We will cover each area in detail, with emphasis on your responsibilities under these various regulations and rules.
Who Should Attend
Compliance Officers should attend this session. In addition, all personnel with responsibilities for the issues being covered should attend.
AGENDA DAY 2-HELOCS
Open End Credit - General Disclosure
Open End – HELOC Account Opening
Open End - Periodic Statements –
Open End - Identifying Transactions on
Open End Credit - Subsequent
HELOCs – Payments
HELOCs - Credit Balances
Open End - Billing Error Resolution
Open End Credit - Determination of
Annual Percentage Rate
Open End - Right of Rescission
Requirements for Home Equity Plans
A review of all relevant information to
compare and contrast these two similar,
but different regulations, including any