Compliance School (Virtual)

Don't miss out on essential compliance knowledge! Join us for a four (4) day compliance school, October 7-10. Gain expert insights, stay ahead of regulatory changes, and protect your credit union.

Registration Details: Each ticket purchased is per person. Zoom links will be sent separately from the registration confirmation ahead of each particular session. Registration is only open to affiliated credit unions of their respective league/association.

Day 1 (9am-1PM): Bank Secrecy Act (BSA) Compliance - Risk Management

This session delves into the essential components of BSA compliance, ensuring participants understand the critical aspects of maintaining a robust anti-money laundering (AML) program.

• Risk Assessment
• BSA, OFAC, FinCEN, and NCUA Roles: Understanding responsibilities
• NCUA Part 748: Reporting cyber incidents
• BSA Requirements: Written program, internal controls, independent testing, individual responsibility, and training
• Customer Information Program (CIP): Requirements under the USA PATRIOT Act
• Risk-Based Procedures: Policy/Procedure Management
• Beneficial ownership requirements
• Transaction Monitoring: Suspicious Activity
• OFAC Compliance: Regulations and responsibilities
• Board of Directors: Role and responsibilities

Day 2 (9am-1PM): All about Deposit Operations Compliance

This session covers essential regulations and best practices for deposit operations to avoid scrutiny, fines, and penalties.

• Consumer Accounts: Regulations, CDD, and documentation
• Nonprofit Organizations: Identification and documentation requirements
• Business Accounts: Entity documentation, authority, and regulatory requirements
• Trust Accounts: Compliance documentation, signing authority, deposit insurance issues, and powers of attorney
• Minor Accounts: Signature cards, access, and ownership
• Nonresident Aliens: Identification enhanced due diligence, and monitoring
• Expedited Funds Availability Act (Regulation CC): Availability schedules and disclosure requirements
• Supervisory Committee: Role and responsibilities in audits

Day 3 (9am-1PM): Lending - Real Estate and Non-Real Estate Lending Regulations

This session provides an overview of key compliance areas in real estate and non-real estate lending, including member business lending.

• Member Business Lending: Overdraft protection, courtesy pay, and payday loans
• Fair Housing Act and Equal Credit Opportunity Act (ECOA): Compliance and regulations
• Fair Lending Laws: Overview and requirements
• TIN Lending: Policies and procedures to support ITIN lending

Regulations Addressed:

• Regulation Z (Truth in Lending Act)
• Real Estate Settlement Procedures Act (RESPA)
• Fair Housing Act
• Equal Credit Opportunity Act (ECOA)
• Consumer Protection Regulations
• Military Lending Act
• Service Members' Civil Relief Act

Day 4 (9am-1PM): Marketing and Advertising Compliance

This session covers compliance regulations for various advertising channels, including social media, websites, TV, and radio. It addresses compliance regulations for loans, deposits, and other areas, focusing on advertising methods like billboards, TV promotions, mailings, and newsletters.

• Advertising Compliance: Electronic media, websites, TV & radio promotions, giveaways, contests, and lotteries
• Trigger Terms: For deposit and loan advertisements
• Disclosure Requirements: Timing and content
• Guidance: NCUA, FFIEC, social media, ADA website compliance

Disclaimer: The contents of this educational training session are intended for general information only and should not be construed as legal advice or a legal opinion on specific facts and circumstances.