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Event Date Wed Dec 29 EST (over 1 year ago)
Location Virtual
Region Americas

Deposits Start to Finish provides a simple and effective way to ensure key personnel are up-to-date on current federal deposit regulations. The major federal regulations governing deposits are explained in plain, easy-to-understand language as we walk through the life cycle of a deposit account – from Product Development to Account Opening to Maintaining/Servicing to Closing the Account.

This program is packed with key considerations, required disclosure requirements, consumer vs. commercial deposit account compliance (and which regulations apply to which), federal benefit garnishment requirements, nuances, challenges and more. Whether you are new, looking for a refresher, or want to hear the latest examiner hot topics, this session covers it!

Topics Covered:
• Customer Identification Procedures.
• Regulation D.
• Regulation E.
• Regulation CC.
• Regulation DD/Part 707.
• Fair Credit Reporting Act (FCRA) Deposit Issues.
• Advertisement of Membership (NCUA/FDIC).
• Retail sales of nondeposit investment products.
• Responding to Customer Complaints and Inquiries.
• Garnishment of Accounts Containing Federal Benefit Payments.

Expanded Agenda: What You Will Learn During This Information-Packed Session:

Customer Identification Procedures:
• Customer information required to open an account.
• Methods for verifying identity.
• CIP recordkeeping requirements.
• Beneficial ownership.

Regulation D – Excess Transactions:
• The types of accounts that are subject to transaction limitation rules.
• Monitoring transactions and action on accounts in violation.

Regulation E – Electronic Funds Transfer Act:
• Initial disclosure and overdraft disclosure requirements.
• Processing a customer’s stop payment request.
• Consumer vs. bank liability for unauthorized transactions.
• How to comply with the error resolution procedures.

Regulation CC – Expedited Funds Availability Act:
• Determine availability schedule for next-day and delayed availability institutions.
• Learn how and when to use case-by-case and exception holds.
• Initial notice and delayed availability notice requirements.

Regulation DD – Truth-in-Savings Act:
• How to ensure accurate and consistent initial disclosures.
• What information must be on advertisements for deposit products.
• Subsequent and periodic disclosure requirements.

Fair Credit Reporting Act (FCRA) Deposit Issues:
• What specifically is meant by “consumer report”.
• Taking adverse action on deposit account opening.

Advertisement of Membership:
• Deposit insurance coverage, signs and advertising requirement essentials.

Retail sales of non deposit investment products:
• Retail sales of non deposit investment products.

Responding to Customer Complaints and Inquiries:
• What is a complaint? What is not a complaint?
• How to establish a system for responding to complaints.

UDAP & UDAAP: Acts or Practices that are Unfair, Deceptive or Abusive:
• UDAP vs. UDAAP: Which applies when.
• Managing compliance UDAP/UDAAP risk.

Garnishment of Accounts Containing Federal Benefit Payments
• Initial action upon receipt of garnishment order.
• Account review.
• Procedures to protect benefits.
• Notice to the account holder.

This program is designed for all employees involved with the deposit-taking function. Designed to be both a comprehensive introduction of the topics to new deposit employees and a refresher/new developments class for experienced deposit personnel. This program will benefit compliance officers, auditors, cashiers, operations personnel, tellers, customer service representatives and new accounts personnel.


2021 Speaker

Leah Hamilton
Vice President & Senior Consultant, ProBank Aust