Whenever a loan requires a joint signer, or a joint signer is offered, federal regulations affect the process. Joint signers have rights under the Equal Credit Opportunity Act (Regulation B) and the Truth in Lending Act (Regulation Z). This webinar will address joint signers’ rights and the financial institution’s obligation to protect those rights. Errors in this portion of the fair lending environment can negatively impact your institution in many ways. (Note: This program will not cover the legal requirements or other issues specific to state law.)
- Definitions that affect lending situations with joint signers
- Joint signers’ rights and responsibilities
- Specific notification requirements
- Rights under rescission rules
- General rules regarding collection
- TAKE-AWAY TOOLKIT
- Detailed manual covering all appropriate regulatory requirements
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for all lenders, staff, and management at all levels. It will also benefit those responsible for fair lending audit or management.
SPEAKER: Bill Elliott, Young & Associates, Inc.
Bill Elliott has over 35 years of banking experience. As a senior compliance consultant and manager of the compliance division with Young & Associates, Inc., Bill works on a variety of compliance-related issues, including leading compliance seminars, conducting compliance reviews, conducting in-house training, and writing compliance articles and training materials.
Bill’s career includes 15 years as a compliance officer and CRA officer in a large community bank, as well as working at a large regional bank. He has experience with consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout.