Events Calendar

Webinar: Top 10 Mistakes in Deposit Compliance Exams
Tuesday, November 24, 2015, 03:00pm - 04:30pm

Deposit compliance has become more complicated with CFPB oversight. Will examiners find any of the practices in the deposit products your credit union offers to be unfair, abusive or deceptive (any of these may be the basis for a UDAAP violation)? Does your frontline know how to handle all member inquiries and complaints? Do they understand how federal laws impact opening an account? Learn about deposit compliance hot spots from recent enforcement actions and exam findings.

The NCUA outlined specific expectations in June with Letter 15-CU-04 for "Improving the Process for Consumer Complaints." If your credit union is subject to this process, have the procedures for handling deposit related complaints been updated? Will you be in compliance? This webinar will discuss the do's and don'ts for several deposit regulations, the top ten mistakes in deposit compliance exams and best practices for deposit compliance.

About This Session:
This webinar will cover the following topics:

  • Required compliance training issues in the operations side of the credit union
  • Truth in Savings and Reg DD – overview of disclosure requirements and common mistakes
  • Reg D reserve requirements – NOW account eligibility, transaction limits and CD withdrawal penalties
  • Regulation E – Handling error resolution for unauthorized transactions, common errors, disclosure requirements
  • How are examiners evaluating ODP programs? Will your ODP program pass the test?
  • Red flags for identity theft and the annual training requirement for the Fair Credit Reporting Act
  • TAKE-AWAY TOOLKIT with an UDAAP sample complaint policy, a Reg E error resolution flow chart, a Reg E opt-in checklist, a Reg CC quick reference chart, transaction limitations for savings and MMDA account checklist, a CIP procedures quick reference guide, an employee training log and a staff quiz/answer key

Who Should Participate:
Compliance officers, audit staff, risk managers, call center managers, senior management, deposit operation managers, new account representatives and member service representatives

About the Presenter:
Susan Costonis, Compliance Consulting and Training for FIs
Susan Costonis is a compliance consultant and trainer, as well as a gettechnical inc associate trainer. She specializes in compliance management, along with deposit and lending regulatory training. Most of her 32-year career was spent in several areas of banking, including lending, marketing, electronic banking, compliance, community reinvestment and senior management. She has written numerous training manuals and successfully managed compliance programs and exams for institutions supervised by the OCC, FDIC and Federal Reserve. She is a Certified Regulatory Compliance Manager and regularly presents to financial institution audiences in several states.