Regulation Aa
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1. The document summarizes several new or updated regulations affecting plastic card issuers, including the Unlawful Internet Gambling Enforcement Act, Regulation AA, and Regulation Z. 2. The Unlawful Internet Gambling Enforcement Act requires payment system participants like credit and debit card issuers to identify and block transactions related to unlawful internet gambling. Regulation AA changes rules around payment timing, allocation, interest rates, and fees. 3. Regulation Z changes various credit card disclosure requirements and protections around applications, account opening, statements, interest rate increases, and advertising fixed rates.
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Doug Houser and Paul McEwan of the SBA & PPP Loan Task Force at Rea & Associates are back and, with the official release of the Paycheck Protection Program (PPP) Loan Forgiveness Application by the Small Business Administration, are ready to present a special 90-minute, interactive webcast that will help you make sense of the application while providing much-needed clarity on a variety of factors pertaining to PPP Loans.
Be sure to join Doug and Paul as they walk attendees through the formal application and attempt to explain the various complexities found within this document. Specifically, during this presentation, you will hear:
- Discussion about the most recent official guidance of the PPP Loan and how to navigate PPP Forgiveness.
- A complete review of the PPP Forgiveness Application.
- About PPP Forgiveness Application's Critical Issues/FAQ’s.
- How to protect your business through risk mitigation and building a file.
Volcker-Rule-Complex-Compliance-Challenge-2014-FINAL
The Volcker Rule places limits on proprietary trading and investments in hedge funds and private equity funds by banking entities. It was approved in December 2013 and takes full effect in July 2015, though entities face various compliance requirements based on their size and activities. Larger entities must implement enhanced compliance programs involving metrics reporting, while smaller entities may only need to update existing policies. The rule presents a significant compliance challenge for banking entities as they prepare their implementation strategies.
Consumer Finance Seminar 2013 - Presentation slides
The document provides an overview of the interim permission and full authorization processes firms must go through to be regulated by the Financial Conduct Authority (FCA) for consumer credit activities. It discusses what interim permission allows, how to register for it, and obligations during the interim period. It then outlines the full authorization application process, including required documentation, threshold conditions, alternatives to authorization, and timelines firms should expect. The document aims to help firms navigate the transition to the new regulatory regime for consumer credit which begins on April 1, 2014.
New Credit Card Rules
The document summarizes new credit card rules and protections provided by the CARD Act of 2009. Key points include:
- Credit card companies must provide 45 days notice before increasing rates or fees and can only increase rates on new charges for existing balances.
- Interest rates cannot be increased in the first year and rate increases must be reevaluated every 6 months.
- Opting out of changes allows cardholders to close accounts and pay off balances over 5 years at the old rate.
- Over-limit fees require opt-in and credit limit reductions do not require notice.
Recovering debt through the courts
From 1 October 2017 creditors will be expected to have followed the Pre-Action Protocol (PAP) for debt claims before proceeding with litigation. Robert Sorrentino of ACS looks at the scope of the protocol and what it means for a creditor wanting to recover a debt through the legal process. Robert provides advice for remaining compliant with the protocol and achieving a successful recovery of the debt.
Similar to Regulation Aa (20)
Lending Compliance Hot Topics with ICS Compliance_January 2010
Lending Compliance Hot Topics with ICS Compliance_January 2010
Retirement Plan Fee Disclosures - Prepare Now for Upcoming Changes!
Retirement Plan Fee Disclosures - Prepare Now for Upcoming Changes!
MWRM 2015: Keynote Speaker Presentation | Diana McCarthy
MWRM 2015: Keynote Speaker Presentation | Diana McCarthy
What Is Life After Coronavirus? Working Through The PPP Loan Forgiveness Appl...
What Is Life After Coronavirus? Working Through The PPP Loan Forgiveness Appl...
Volcker-Rule-Complex-Compliance-Challenge-2014-FINAL
Volcker-Rule-Complex-Compliance-Challenge-2014-FINAL
Consumer Finance Seminar 2013 - Presentation slides
Consumer Finance Seminar 2013 - Presentation slides
Regulation Aa
- 1. Plastic Card Regulatory Update Mary Sroufe Washington Credit Union League