What?
Every month the federal financial institution regulatory
agencies publish lists of enforcement actions taken against
financial institutions. Enforcement actions can include civil
monetary penalties, consent decrees and cease and desist orders,
to name a few.
Every enforcement action tells a story of a failure to comply
and the actions required to remedy the situation. Every
enforcement action is a lesson to be learned by others financial
institutions. The actions required to cure the problems in one
institutions are the actions required in other institutions to
avoid the same problem.
Rarely are the identified problems unique. The stories are
repeated month in and month out. Don't be the next institution
to fall into the same trap. Become aware of the problem and then
look around to determine if the same problem exists in your
institution. If the problem is present self-detection and prompt
corrective action generally results in less severe penalties. If
the problem does not exist take a few simple steps (policies,
procedures and training) to assure the problem doesn't occur in
your institution.
Why?
This two-hour webinar is designed
to make attendees aware of recent enforcement actions, the
actions required in response to the action and the penalties or
costs imposed with the hope that armed with such knowledge
attendees can avoid similar problems.
Covered Topics:
- Flood penalties (multiple cases every month);
- Truth in Lending reimbursement (makes regular cases
on the list);
- Discrimination against Native American borrowers
(It's back. This is so 25 years ago.);
- Collection practices in violation of the Fair Debt
Collection Practices Act (FDCPA) and the UDAAP (Just
when you thought you were safe. FDCPA does not apply to
a financial institution collecting its own debt, but
UDAAP does apply to an institution collecting its own
debt);
- Loans to insiders in violation of the provisions of
Regulation O (Basic procedures help eliminate most
Regulation O violations, but never underestimate the
deceptive nature of certain insiders.);
- Redlining cases (These cases have risen rapidly in
recent years. What is the current status?);
- UDAP issues related to interest-rate-lock process
(UDAP seems to sneak in everywhere.);
- UDAP issues related to forced-placed insurance (And
here it is again); and
- The list will continue to grow between now and the
program date.
Who Should Attend?
The program is designed for Loan Department
management, Compliance Officers, Loan Officers, Loan
Processors, Auditors, and others with responsibilities related
to the origination and servicing of loans.
Instructor
Jack Holzknecht is the CEO of Compliance
Resource, LLC. He has been delivering the word on lending compliance
for 43 years. In 38 years as a trainer over 145,000 bankers (and many
examiners) have participated in Jack’s live seminars and webinars.
Jack’s career began in 1976 as a federal bank examiner.
He later headed the product and education divisions of a
regional consulting company. There he developed loan and deposit form
systems and software. He also developed and presented training
programs to bankers in 43 states. Jack has been an instructor at
compliance schools presented by a number of state bankers
associations.
As a contractor he developed and delivered compliance
training for the FDIC for ten years. He is a Certified Regulatory
Compliance Manager and a member of the National Speakers Association.
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