1427 Results
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2020-09 September - IRA SECURE and CARES Act Summary
It has been a big year of changes for IRAs and Qualified Plans starting with the Setting Every Community Up for Retirement Enhancement Act (SECURE Act) effective January 1, 2020 followed by the Coronavirus Aid, Relief and Economic Security Act (CARES Act) signed into law on March 27, 2020. As a Director you are expected by your bank clients, friends and even relatives to keep up with all the changes and know all the answers. In reality, the IRS still does not have the answers to many of these new rules that were put into place.Covered Topics:
This segment will give you an overview of the basic IRA provisions affected by these ongoing regulation changes as well as the ability to give factual information when questions are asked, including:- What are the good and bad changes implemented by the SECURE Act?
- What does the RMD Waiver means to IRA clients and beneficiaries for 2020?
- What notices and IRA forms need to be updated from a compliance standpoint?
- CARES Act penalty-free IRA distributions and how to recoup taxes from the IRS when a repayment is made.
20 Minutes -
2020-10 October - Overdraft Services: Risks and Keys to Compliance
This program will discuss what can cause your financial institution to be sued and fined in the overdraft service world. This high revenue product brings high revenue risk and needs your attention. Learn more about lawsuits, fines and best practices.Covered Topics:
- Overdraft Services Law Suits
- FDIC Consumer Compliance Supervisory Highlights
- CFPB Study of Overdraft Programs
- Federal Regulation Compliance & the Guidance
- Fines on Financial Institutions
- 10 Key Compliance Issues
20 Minutes -
2020-11 November - Deposit Regulatory Update
During this program, learn what has happened in the regulatory scene for deposit accounts. This program can qualify as annual training on several regulations for the Board of Directors. Covered Topics:- Regulation CC
- Nonresident Alien Changes
- Regulation D
- Hemp
- Fraud
- Pending Changes/Updates
17 Minutes -
2020-12 December - The Role of the Board - Risk Tolerance and Appetite
Too often the Board and management are not in line on what is an acceptable amount of risk. Does the Board want a "1" or "2" rating at their next Compliance Exam? Has the Board thought about the level of risk they are willing to accept, and have they articulated this to management? This program will help you understand the importance of this topic and how to begin these conversations. Covered Topics:- Risk Appetite
- Risk Management
- Risk Assessments
- Risk Rating
20 Minutes -
2021-01 January - Policies, Procedures, and Processes - What Does the Board Need to Do?
Your Board is responsible for everything that goes on in your institution. However, the Board hires management to carry out the day to day duties. Most institutions have more policies and procedures than are required. Additionally, most policies contain too many details and are actually ineffective. Policies are used by the Board to explain the "What" and the "Why". Procedures should then be developed by management to carry out the "Who, Where, When and How" of these policies. Complete this course to help you understand what policies are required and how much detail (or little) they should contain. Covered Topics:- Policies
- Procedures
- Processes
- Creation, Detail, Review, Approval and More.
20 Minutes -
2021-03 March - Issues to Consider When Modifying Loans
With many consumers and businesses in distress due to pandemic and related financial stresses, borrowers are in trouble. As a result, your institution is likely inundated with requests for accommodations or other sorts of assistance to keep from defaulting. But compliance doesn't take a vacation; there are many requirements that must be followed when refinancing or modifying a loan. This discussion will center on those requirements so that you can be certain not to miss anything when changing a loan.Covered Topics:
- Why might an existing loan be changed?
- Disclosures
- Flood Insurance
- Appraisals
- Right of Recission
- Credit Reporting
- HMDA, CRA, and Fair Lending
- "Qualified Mortgage" Changes
- Bank Secrecy Act Reform
20 Minutes -
2021-04 April - Anti-Money Laundering Act of 2020
During this program, your directors will receive an overview of the Anti-Money Laundering Act of 2020 that was passed in 2021. It will have great implications into your future BSA programs. This session covers de-risking, a national database for beneficial ownership, higher fines and penalties for BSA and Keep Open Directives from law enforcement. It is a good update of this massive bill and will count towards your BSA Director's Training. Covered Topics:- Division F - Anti-Money Laundering
- New BSA Purposes
- De-Risking
- Keep Open Orders and Other FAQs Released
- National Beneficial Ownership Registration Awaiting Regulation
- SAR and CTR Trends
- Sharing Compliance Resources
- FinCEN Sanctions and Fines
20 Minutes -
2021-05 May - Reduced Regulatory Financial Reporting
This segment will provide insight into the reduced financial reporting options that have been made available to banks over the past few years. There is no question about the significance of the regulatory burden that all banks face on a daily basis. The regulators have offered several options to allow for reduced financial reporting for certain eligible banks that can make the Call Report preparation process more manageable for your accounting and financial reporting team. Covered Topics:- Section 205 of the Economic Growth, Regulatory Relief and Consumer Protection Act
- Reduced Reporting for Bank's with $5 billion and less in total assets.
- The Community Bank Leverage Ratio
- Reduced reporting for Bank's with less than $10 billion in total assets
- Financial Institutions Letters 99-2020, 108-2020, and 111-2020
20 Minutes - Section 205 of the Economic Growth, Regulatory Relief and Consumer Protection Act
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2021-06 June - Best Practices for an Effective Review of Your Bank's Call Report
As a member of the Board of Directors, your role in the process of authorizing the release of the quarterly Call Report to the FDIC is not insignificant. Learn about the best practices for a director's review and approval of the Call Report to include an assessment of the key schedules to focus on and the questions to ask of your preparation team. Covered Topics: 1. Call Report Policy 2. Inquire of Management 3. Compare Balance Sheet and Income Statements 4. Compare Call Reports 5. Detailed Review20 Minutes -
2021-08 August - New Ability-to-Repay (ATR) and Qualified Mortgage (QM) Rules
The CFPB has updated amended its rules on criteria for certain consumer-purpose mortgage loans to be protected from legal action, called the “Qualified Mortgage” rules. This is due in no small part to the expiration of the so-called “GSE Patch,” which allowed some loans with excessive Debt-to-Income (DTI) ratios to qualify. This test has been replaced with a pricing standard dependent on the loan’s APR. As well, a new category of Qualified Mortgages, called “Seasoned QMs,” has been introduced, which will allow for loans with three years’ of good payment history to gain the protections. We’ll discuss these requirements and how they may impact your institution. This is due in no small part to the expiration of the so-called “GSE Patch,” which allowed some loans with excessive Debt-to-Income (DTI) ratios to qualify. This test has been replaced with a pricing standard dependent on the loan’s APR. As well, a new category of Qualified Mortgages, called “Seasoned QMs,” has been introduced, which will allow for loans with three years of good payment history to gain the protections. We’ll discuss these requirements and how they may impact your institution. Covered Topics New Qualified Mortgage (QM) Rules Types of Qualified Mortgages Revised Qualified Mortgage (QM) Rules The “GSE Patch” New Seasoned QM Rule Seasoned QM Requirements
