The document provides an overview of compliance training for Devon Bank employees. It discusses how regulatory compliance is important and mandatory for all banking employees. It outlines federal regulations from agencies like the FDIC that Devon Bank must comply with. It also details regulations that specific departments like commercial lending must follow pertaining to issues like fair lending, insider loans, anti-money laundering, and more. The training aims to educate employees on compliance rules and penalties for noncompliance.
This document provides an overview of compliance training for employees at Devon Bank. It begins with introductions to regulatory compliance and how it affects the bank. It then reviews several key federal regulations that the bank must comply with, including those from the FDIC, OCC, FRB, and HUD. The training covers compliance examinations, visitations, and investigations. It also reviews regulations that apply specifically to the residential lending department, such as the Community Reinvestment Act, Fair Lending Law, and Home Mortgage Disclosure Act. Throughout, it emphasizes the importance of all bank employees understanding and adhering to the various compliance rules and regulations.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It emphasizes that all employees are responsible for understanding and following the rules and regulations that pertain to their departments in order to avoid penalties for noncompliance.
This document provides an overview of regulatory compliance training for employees at Devon Bank. It discusses key federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. The training is intended to educate employees on compliance responsibilities, avoiding penalties for noncompliance, and why regulatory compliance is important.
This training provides Devon Bank employees with an overview of regulatory compliance. It discusses key compliance topics like the FDIC compliance examination process, federal regulations pertaining to different bank departments, and penalties for noncompliance. The training aims to give employees a basic understanding of compliance rules and how to avoid fines or other issues related to regulatory noncompliance. It focuses on specific regulations for the electronic banking department, covering topics such as the Bank Secrecy Act, the Patriot Act, and Regulation E on electronic funds transfers. The overall goal is to educate employees on compliance responsibilities and promote adherence to relevant laws and regulations.
This document provides an overview of compliance training for employees at Devon Bank. It discusses the importance of regulatory compliance and outlines federal regulations that Devon Bank must adhere to, including the FDIC, Bank Secrecy Act, Patriot Act, and others. The training is intended to educate employees on their compliance responsibilities and the rules governing various bank departments, including penalties for noncompliance. It provides a step-by-step review of regulations pertaining specifically to the Board of Directors department.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It also covers specific compliance responsibilities for Devon Bank's Trust Department, such as the Bank Secrecy Act, Patriot Act, and regulations regarding diversity, elderly abuse, bribery, and information security. The goal of the training is to educate employees on compliance and ensure the bank avoids penalties by adhering to all applicable laws and regulations.
The document provides an overview of regulatory compliance training for employees at Devon Bank. It discusses:
- The various federal regulations that banks must comply with, including the FDIC, Bank Secrecy Act, and Patriot Act.
- The goals of compliance training to educate employees on their regulatory responsibilities and avoid penalties.
- How the FDIC conducts compliance examinations, visitations, and investigations to ensure banks follow consumer protection laws.
- Specific regulations that apply to different bank departments, such as the Community Reinvestment Act for customer service representatives.
The document provides an overview of banking compliance regulations for Devon Bank employees. It discusses several key federal regulations that Devon Bank must comply with, including regulations around banking restrictions, the Bank Secrecy Act, the Patriot Act, and the Community Reinvestment Act. It emphasizes that all Devon Bank employees are responsible for understanding and adhering to the compliance rules and regulations that apply to their respective departments.
This document provides an overview of compliance training for employees at Devon Bank. It begins with introductions to regulatory compliance and how it affects the bank. It then reviews several key federal regulations that the bank must comply with, including those from the FDIC, OCC, FRB, and HUD. The training covers compliance examinations, visitations, and investigations. It also reviews regulations that apply specifically to the residential lending department, such as the Community Reinvestment Act, Fair Lending Law, and Home Mortgage Disclosure Act. Throughout, it emphasizes the importance of all bank employees understanding and adhering to the various compliance rules and regulations.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It emphasizes that all employees are responsible for understanding and following the rules and regulations that pertain to their departments in order to avoid penalties for noncompliance.
This document provides an overview of regulatory compliance training for employees at Devon Bank. It discusses key federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. The training is intended to educate employees on compliance responsibilities, avoiding penalties for noncompliance, and why regulatory compliance is important.
This training provides Devon Bank employees with an overview of regulatory compliance. It discusses key compliance topics like the FDIC compliance examination process, federal regulations pertaining to different bank departments, and penalties for noncompliance. The training aims to give employees a basic understanding of compliance rules and how to avoid fines or other issues related to regulatory noncompliance. It focuses on specific regulations for the electronic banking department, covering topics such as the Bank Secrecy Act, the Patriot Act, and Regulation E on electronic funds transfers. The overall goal is to educate employees on compliance responsibilities and promote adherence to relevant laws and regulations.
This document provides an overview of compliance training for employees at Devon Bank. It discusses the importance of regulatory compliance and outlines federal regulations that Devon Bank must adhere to, including the FDIC, Bank Secrecy Act, Patriot Act, and others. The training is intended to educate employees on their compliance responsibilities and the rules governing various bank departments, including penalties for noncompliance. It provides a step-by-step review of regulations pertaining specifically to the Board of Directors department.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It also covers specific compliance responsibilities for Devon Bank's Trust Department, such as the Bank Secrecy Act, Patriot Act, and regulations regarding diversity, elderly abuse, bribery, and information security. The goal of the training is to educate employees on compliance and ensure the bank avoids penalties by adhering to all applicable laws and regulations.
The document provides an overview of regulatory compliance training for employees at Devon Bank. It discusses:
- The various federal regulations that banks must comply with, including the FDIC, Bank Secrecy Act, and Patriot Act.
- The goals of compliance training to educate employees on their regulatory responsibilities and avoid penalties.
- How the FDIC conducts compliance examinations, visitations, and investigations to ensure banks follow consumer protection laws.
- Specific regulations that apply to different bank departments, such as the Community Reinvestment Act for customer service representatives.
The document provides an overview of banking compliance regulations for Devon Bank employees. It discusses several key federal regulations that Devon Bank must comply with, including regulations around banking restrictions, the Bank Secrecy Act, the Patriot Act, and the Community Reinvestment Act. It emphasizes that all Devon Bank employees are responsible for understanding and adhering to the compliance rules and regulations that apply to their respective departments.
This document provides training on regulatory compliance for tellers at Devon Bank. It begins by explaining that banks must comply with federal regulations set by agencies like the FDIC. It then details specific regulations that tellers must adhere to, including the Bank Secrecy Act, Patriot Act, and regulations around accessibility, privacy, security, and prohibited discrimination. The training emphasizes the importance of compliance and knowing applicable laws and policies to avoid penalties and protect customers. It concludes by having trainees answer practice questions to test their understanding.
This training provides Devon Bank employees with information about regulatory compliance. It aims to give participants a step-by-step guide for adhering to existing federal, state, and local banking laws and regulations. Employees will learn about their compliance responsibilities, penalties for noncompliance, and how to avoid fines. The training reviews specific regulations that Devon Bank must follow from agencies like the FDIC, FTC, and OCC. It also outlines the rules that apply to the marketing department regarding advertising, privacy, lending disclosures, and more.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It also covers specific compliance responsibilities and regulations for the Human Resources department, such as the Americans with Disabilities Act, Bank Secrecy Act, and other employment laws. The goal of the training is to educate employees on compliance requirements so that Devon Bank can meet its legal and regulatory obligations.
The document outlines key proposals and recommendations for financial regulatory reform contained in reports released by the Obama Administration in June and August 2009. It summarizes the causes of the financial crisis, including inadequate consumer and investor protections, insufficient oversight of financial firms, poor oversight of markets, and lack of mechanisms for resolving failed firms. The proposals aim to establish a new Consumer Financial Protection Agency, increase oversight of financial firms and markets, implement new rules for winding down failed firms, and enhance international coordination of standards. If enacted, the reforms are intended to protect consumers, investors, and taxpayers and prevent future crises.
Post Crisis Banking Legislation CEVick.docxCarolyn Vick
Post-crisis banking legislation aimed to enhance consumer protection and ensure bank stability, but it has negatively impacted access to financial services for many ordinary Americans. Stricter regulations have led banks to exit relationships with alternative financial service providers or increase oversight of them. As a result, over 34 million US households now have less access to basic banking services like loans and money transfers. This has increased risks of theft and crime for the underbanked while pushing more financial activity underground towards informal providers outside of regulatory oversight. The new rules ultimately seem to have reduced, rather than expanded, financial access for those most in need.
The document summarizes a webinar presentation about payday loans and consumer protections regarding them. Payday loans are short-term, high-interest loans offered by payday lenders. While notorious for their unconscionable interest rates and fees, payday loans were previously unregulated but laws have since been passed on both the federal and provincial level in Ontario to provide more protections for consumers. The webinar outlines Ontario's Payday Loans Act of 2008, which regulates payday lenders and includes requirements around licensing, operations, and restrictions intended to protect borrowers.
This document summarizes key information about cell phone contracts in Ontario, Canada. It outlines typical contract terms, governing laws and regulatory bodies, consumer rights and protections, and remedies for issues. Consumers are often locked into lengthy standard contracts but have rights regarding contract contents and cancellations. They can seek remedies through cancellation, rescission, complaints to agencies or small claims court if providers violate laws or contracts.
The document summarizes consumer protection in the financial sector in Kenya. It outlines the various regulatory bodies that oversee different aspects of the financial sector and notes that while some laws provide some protections, overall legal provisions for financial consumer protection in Kenya are lacking. It recommends establishing an enforcement agency with a mandate to protect all financial consumers, enacting comprehensive regulations and legislation around issues like disclosure, consumer rights and recourse mechanisms, and improving financial literacy through education.
Please find the briefing note on the Consumer Protection Act. It includes the KBA Alternative Dispute Resolution Model which was approved by the Governing Council as the industry model and approach on handling longstanding customer complaints and disputes.
Consumers' financial rights are protected by federal and state laws and regulations covering many services offered by financial institutions.
*All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document is a presentation about consumer protection related to credit reporting and consumer reporting agencies. It discusses the importance of maintaining a healthy credit score and outlines how credit repair agencies and consumer reporting agencies operate. It also summarizes the legal rights and responsibilities of consumers regarding credit reports, including how to dispute inaccurate information and get help from regulatory agencies.
Knowing your consumer collection laws Mark Goodman
This document summarizes a 2014 workshop on consumer collection laws and regulations. It discusses the Consumer Financial Protection Bureau (CFPB) and laws like the Fair Debt Collection Practices Act (FDCPA) that regulate collection practices. Key points include requirements around contacting debtors by phone or other means, restrictions on collecting time-barred debts, and the importance of training collectors and maintaining a culture of compliance. The workshop emphasizes understanding and complying with evolving regulations to avoid penalties and protect borrowers.
This document summarizes the key points of the Consumer Protection Act of Kenya. It establishes rights for consumers, including the right to commence legal action. It prohibits unfair trade practices and misleading advertising. The Act regulates specific types of consumer agreements regarding future performance, timeshares, personal development services, credit, leasing, and repairs. It establishes procedures for consumer remedies and cancels agreements that do not meet requirements. Finally, it establishes a Consumer Protection Committee to oversee the implementation of the Act.
This document summarizes key provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to the creation of the Consumer Financial Protection Bureau (CFPB). It outlines the CFPB's structure, functions, rulemaking authority, and enforcement powers. Additionally, it discusses ways state Attorneys General can partner with the CFPB, including compelling rulemaking, petitioning for rulemaking, and commenting on proposed rules. The overall goal is to establish an effective partnership between the CFPB and state AGs to enforce consumer financial protection.
This document provides an introduction to key terms and concepts related to the Fair Credit Reporting Act (FCRA). It explains that the FCRA regulates the use of consumer credit information. It defines important organizations like the Consumer Data Industry Association, the three major credit reporting bureaus, and consumer reporting agencies. It notes that while Stenger & Stenger does not directly report to credit bureaus, it must still be familiar with FCRA requirements because its clients do report to bureaus. The document warns that FCRA violations can result in damages and outlines responsibilities for data furnishers when responding to disputes within 25 days.
Understanding the Regulatory Evolution of Mobile Commerce and the Opportun...Arief Gunawan
The document summarizes key concepts and regulatory frameworks related to mobile commerce and money transfer services, including anti-money laundering regulations, prudential banking regulations, payment service directives, e-money regulations, and rules around the use of agents. It discusses how these different regulations apply at varying levels of oversight depending on the specific services offered and associated risks.
TCPA and Contact Center Law: What's on the Horizon in 2017? Ryan Thurman
This document summarizes a webinar presentation about TCPA and contact center law. It discusses the regulatory authorities of the FCC, FTC, and state regulators over telemarketing laws. It also summarizes recent TCPA and TSR amendments regarding autodialers, consent, and penalties. Upcoming legal issues are discussed, such as the definition of an autodialer and recent favorable court cases. Compliance strategies for 2017 like scrubbing lists of litigators and wireless numbers are also presented.
The New Paradigm In Vendor Management Under CFPB - Law360John Barnes
The document discusses the Consumer Financial Protection Bureau's (CFPB) oversight of third-party vendors that provide services to financial institutions. It outlines that the CFPB holds financial institutions responsible for the conduct of their third-party service providers. The CFPB has taken enforcement actions against banks for issues caused by vendors' noncompliance. The document also notes uncertainty around which types of entities would be considered "service providers" by the CFPB, leaving financial institutions to assume broad oversight of companies involved in lending.
The State of the TCPA: Consent, Dialers, the FCC -- the Law is in Flux Ryan Thurman
The document discusses the Telephone Consumer Protection Act (TCPA) and the Federal Communications Commission's (FCC) role in regulating the law. It summarizes key aspects of the TCPA including provisions regarding autodialing cell phones, consent requirements, and exemptions. The FCC has issued rulings clarifying that debt collection calls made to cell phone numbers provided by consumers to creditors do not violate the TCPA. The document also provides an overview of the speaker's experience working on TCPA issues and litigation.
The document discusses the need for a new power of attorney (POA) statute in Virginia. It summarizes the results of a 2002 survey that showed the need for a comprehensive statute addressing issues like agent authority, fiduciary duties, and third party acceptance of POAs. The proposed Uniform Power of Attorney Act (UPOAA) provides default rules and protections for principals and agents to address these issues and make POAs more uniform, flexible, and protective. It also outlines the key provisions and recommendations for enacting the UPOAA in Virginia.
The document summarizes the key aspects of the Moving Ahead for Progress in the 21st Century Act (MAP-21). MAP-21 consolidated and reformed surface transportation programs, established performance measures for transportation systems, and provided funding authorizations through Fiscal Year 2014. It streamlined programs, placed an increased emphasis on performance management to support national transportation goals, and implemented reforms to accelerate project delivery. MAP-21 also required states to develop performance targets in several areas and link investment priorities to performance. However, the funding authorized by MAP-21 only sustained surface transportation spending for two years and did not identify a long-term solution for financing infrastructure needs beyond FY2014.
The summary provides an overview of the Junior Achievement of Western Connecticut annual meeting held on June 28, 2012. Key items discussed included the president's report on the organization's activities and impact over the past year, approval of previous meeting minutes and the 2012-2013 budget, and election of new board directors and officers for the upcoming year. Over 500 students were impacted by afterschool programs and two new schools in Bridgeport were added. Discussions were also held around strategic planning, marketing, and fundraising efforts.
This document provides training on regulatory compliance for tellers at Devon Bank. It begins by explaining that banks must comply with federal regulations set by agencies like the FDIC. It then details specific regulations that tellers must adhere to, including the Bank Secrecy Act, Patriot Act, and regulations around accessibility, privacy, security, and prohibited discrimination. The training emphasizes the importance of compliance and knowing applicable laws and policies to avoid penalties and protect customers. It concludes by having trainees answer practice questions to test their understanding.
This training provides Devon Bank employees with information about regulatory compliance. It aims to give participants a step-by-step guide for adhering to existing federal, state, and local banking laws and regulations. Employees will learn about their compliance responsibilities, penalties for noncompliance, and how to avoid fines. The training reviews specific regulations that Devon Bank must follow from agencies like the FDIC, FTC, and OCC. It also outlines the rules that apply to the marketing department regarding advertising, privacy, lending disclosures, and more.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, OCC, FRB, and others. It also covers specific compliance responsibilities and regulations for the Human Resources department, such as the Americans with Disabilities Act, Bank Secrecy Act, and other employment laws. The goal of the training is to educate employees on compliance requirements so that Devon Bank can meet its legal and regulatory obligations.
The document outlines key proposals and recommendations for financial regulatory reform contained in reports released by the Obama Administration in June and August 2009. It summarizes the causes of the financial crisis, including inadequate consumer and investor protections, insufficient oversight of financial firms, poor oversight of markets, and lack of mechanisms for resolving failed firms. The proposals aim to establish a new Consumer Financial Protection Agency, increase oversight of financial firms and markets, implement new rules for winding down failed firms, and enhance international coordination of standards. If enacted, the reforms are intended to protect consumers, investors, and taxpayers and prevent future crises.
Post Crisis Banking Legislation CEVick.docxCarolyn Vick
Post-crisis banking legislation aimed to enhance consumer protection and ensure bank stability, but it has negatively impacted access to financial services for many ordinary Americans. Stricter regulations have led banks to exit relationships with alternative financial service providers or increase oversight of them. As a result, over 34 million US households now have less access to basic banking services like loans and money transfers. This has increased risks of theft and crime for the underbanked while pushing more financial activity underground towards informal providers outside of regulatory oversight. The new rules ultimately seem to have reduced, rather than expanded, financial access for those most in need.
The document summarizes a webinar presentation about payday loans and consumer protections regarding them. Payday loans are short-term, high-interest loans offered by payday lenders. While notorious for their unconscionable interest rates and fees, payday loans were previously unregulated but laws have since been passed on both the federal and provincial level in Ontario to provide more protections for consumers. The webinar outlines Ontario's Payday Loans Act of 2008, which regulates payday lenders and includes requirements around licensing, operations, and restrictions intended to protect borrowers.
This document summarizes key information about cell phone contracts in Ontario, Canada. It outlines typical contract terms, governing laws and regulatory bodies, consumer rights and protections, and remedies for issues. Consumers are often locked into lengthy standard contracts but have rights regarding contract contents and cancellations. They can seek remedies through cancellation, rescission, complaints to agencies or small claims court if providers violate laws or contracts.
The document summarizes consumer protection in the financial sector in Kenya. It outlines the various regulatory bodies that oversee different aspects of the financial sector and notes that while some laws provide some protections, overall legal provisions for financial consumer protection in Kenya are lacking. It recommends establishing an enforcement agency with a mandate to protect all financial consumers, enacting comprehensive regulations and legislation around issues like disclosure, consumer rights and recourse mechanisms, and improving financial literacy through education.
Please find the briefing note on the Consumer Protection Act. It includes the KBA Alternative Dispute Resolution Model which was approved by the Governing Council as the industry model and approach on handling longstanding customer complaints and disputes.
Consumers' financial rights are protected by federal and state laws and regulations covering many services offered by financial institutions.
*All product and company names mentioned herein are for identification and educational purposes only and are the property of, and may be trademarks of, their respective owners.
This document is a presentation about consumer protection related to credit reporting and consumer reporting agencies. It discusses the importance of maintaining a healthy credit score and outlines how credit repair agencies and consumer reporting agencies operate. It also summarizes the legal rights and responsibilities of consumers regarding credit reports, including how to dispute inaccurate information and get help from regulatory agencies.
Knowing your consumer collection laws Mark Goodman
This document summarizes a 2014 workshop on consumer collection laws and regulations. It discusses the Consumer Financial Protection Bureau (CFPB) and laws like the Fair Debt Collection Practices Act (FDCPA) that regulate collection practices. Key points include requirements around contacting debtors by phone or other means, restrictions on collecting time-barred debts, and the importance of training collectors and maintaining a culture of compliance. The workshop emphasizes understanding and complying with evolving regulations to avoid penalties and protect borrowers.
This document summarizes the key points of the Consumer Protection Act of Kenya. It establishes rights for consumers, including the right to commence legal action. It prohibits unfair trade practices and misleading advertising. The Act regulates specific types of consumer agreements regarding future performance, timeshares, personal development services, credit, leasing, and repairs. It establishes procedures for consumer remedies and cancels agreements that do not meet requirements. Finally, it establishes a Consumer Protection Committee to oversee the implementation of the Act.
This document summarizes key provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act related to the creation of the Consumer Financial Protection Bureau (CFPB). It outlines the CFPB's structure, functions, rulemaking authority, and enforcement powers. Additionally, it discusses ways state Attorneys General can partner with the CFPB, including compelling rulemaking, petitioning for rulemaking, and commenting on proposed rules. The overall goal is to establish an effective partnership between the CFPB and state AGs to enforce consumer financial protection.
This document provides an introduction to key terms and concepts related to the Fair Credit Reporting Act (FCRA). It explains that the FCRA regulates the use of consumer credit information. It defines important organizations like the Consumer Data Industry Association, the three major credit reporting bureaus, and consumer reporting agencies. It notes that while Stenger & Stenger does not directly report to credit bureaus, it must still be familiar with FCRA requirements because its clients do report to bureaus. The document warns that FCRA violations can result in damages and outlines responsibilities for data furnishers when responding to disputes within 25 days.
Understanding the Regulatory Evolution of Mobile Commerce and the Opportun...Arief Gunawan
The document summarizes key concepts and regulatory frameworks related to mobile commerce and money transfer services, including anti-money laundering regulations, prudential banking regulations, payment service directives, e-money regulations, and rules around the use of agents. It discusses how these different regulations apply at varying levels of oversight depending on the specific services offered and associated risks.
TCPA and Contact Center Law: What's on the Horizon in 2017? Ryan Thurman
This document summarizes a webinar presentation about TCPA and contact center law. It discusses the regulatory authorities of the FCC, FTC, and state regulators over telemarketing laws. It also summarizes recent TCPA and TSR amendments regarding autodialers, consent, and penalties. Upcoming legal issues are discussed, such as the definition of an autodialer and recent favorable court cases. Compliance strategies for 2017 like scrubbing lists of litigators and wireless numbers are also presented.
The New Paradigm In Vendor Management Under CFPB - Law360John Barnes
The document discusses the Consumer Financial Protection Bureau's (CFPB) oversight of third-party vendors that provide services to financial institutions. It outlines that the CFPB holds financial institutions responsible for the conduct of their third-party service providers. The CFPB has taken enforcement actions against banks for issues caused by vendors' noncompliance. The document also notes uncertainty around which types of entities would be considered "service providers" by the CFPB, leaving financial institutions to assume broad oversight of companies involved in lending.
The State of the TCPA: Consent, Dialers, the FCC -- the Law is in Flux Ryan Thurman
The document discusses the Telephone Consumer Protection Act (TCPA) and the Federal Communications Commission's (FCC) role in regulating the law. It summarizes key aspects of the TCPA including provisions regarding autodialing cell phones, consent requirements, and exemptions. The FCC has issued rulings clarifying that debt collection calls made to cell phone numbers provided by consumers to creditors do not violate the TCPA. The document also provides an overview of the speaker's experience working on TCPA issues and litigation.
The document discusses the need for a new power of attorney (POA) statute in Virginia. It summarizes the results of a 2002 survey that showed the need for a comprehensive statute addressing issues like agent authority, fiduciary duties, and third party acceptance of POAs. The proposed Uniform Power of Attorney Act (UPOAA) provides default rules and protections for principals and agents to address these issues and make POAs more uniform, flexible, and protective. It also outlines the key provisions and recommendations for enacting the UPOAA in Virginia.
The document summarizes the key aspects of the Moving Ahead for Progress in the 21st Century Act (MAP-21). MAP-21 consolidated and reformed surface transportation programs, established performance measures for transportation systems, and provided funding authorizations through Fiscal Year 2014. It streamlined programs, placed an increased emphasis on performance management to support national transportation goals, and implemented reforms to accelerate project delivery. MAP-21 also required states to develop performance targets in several areas and link investment priorities to performance. However, the funding authorized by MAP-21 only sustained surface transportation spending for two years and did not identify a long-term solution for financing infrastructure needs beyond FY2014.
The summary provides an overview of the Junior Achievement of Western Connecticut annual meeting held on June 28, 2012. Key items discussed included the president's report on the organization's activities and impact over the past year, approval of previous meeting minutes and the 2012-2013 budget, and election of new board directors and officers for the upcoming year. Over 500 students were impacted by afterschool programs and two new schools in Bridgeport were added. Discussions were also held around strategic planning, marketing, and fundraising efforts.
Sibling rivalry is common in families with more than one child. Children often compete for their parents' attention, affection, and resources. This leads to jealousy and fighting between brothers and sisters as they grow up in the same household.
Subsistence practices in early 20th century Dunlap Village are examined through archaeological evidence. Artifacts found at a double house site include food containers, bottles, and other items related to subsistence such as coke ovens and privies, showing how villagers obtained and prepared food for survival at that time.
This training provides Devon Bank employees with information about regulatory compliance. It discusses the various federal regulations that Devon Bank must comply with, including regulations from the FDIC, FRB, OCC, and HUD. It also outlines responsibilities for different bank departments like branch operations and lending. The training aims to educate employees on compliance rules and avoid penalties for noncompliance.
The PennDOT Historic Metal Truss Bridge Management Plan aims to preserve the rapidly diminishing resource of historic metal truss bridges in Pennsylvania. An inventory from 2001 found 863 total truss bridges, with 303 eligible or listed. Currently there are 601 total trusses and 47 eligible/listed bridges have been lost. The management plan was created by a project team including PennDOT, FHWA, PHMC and others. It includes protocols for determining bridge significance and preservation potential, as well as prioritizing bridges for individual assessments. The draft document will provide an overview, research summary, and implementation plan when finalized in July.
The document provides an overview of the Surface Transportation Board and its predecessor, the Interstate Commerce Commission. It discusses how the ICC was created in 1887 to regulate railroads after issues arose from the "Granger Movement". Over time, the number of ICC board members changed and trucks and cars began competing with railroads. The ICC addressed railroad abandonments from 2009-2011. Some rail-banked lines were converted to trails, and new rail construction and reactivation of rail-banked trails has occurred. The presentation was given by Catherine Glidden of the Surface Transportation Board.
This document summarizes the legal framework around shale development and cultural resources protection. It discusses a site in Pennsylvania called the Kirshner Site that contains the remains of two Native American villages hundreds of years apart, including evidence of a violent massacre. It then outlines some of the key federal laws around hydraulic fracturing, including exemptions from the Safe Drinking Water Act and Clean Water Act. At the state level, it notes Pennsylvania law requires consideration of impacts to historic sites from drilling but overrides local zoning. It encourages landowners to require avoidance of cultural sites in leases and collaboration between drillers and cultural experts.
The summary provides an overview of the Junior Achievement of Western Connecticut annual meeting held on June 28, 2012. Key items discussed included the president's report on the organization's activities and impact over the past year, approval of previous meeting minutes and the 2012-2013 budget, and election of new board directors and officers to serve one and three year terms. Special recognition was also given to outstanding volunteers and supporters.
The Consumer Financial Protection Bureau (CFPB) recently celebrated its second birthday. During its first two years of existence, the CFPB has shown itself to be an aggressive consumer-protection agency. It is particularly noteworthy because its broad jurisdictional mandate could impact virtually any business that makes a loan to any consumer. Consumer lenders need to be alert to the sweeping implications this agency will have for their future business activities.
1) The document provides definitions and explanations of key concepts related to banking including the definition of banking, banking companies, statutes governing banking companies, and functions of banks.
2) It explains that banking companies accept deposits and use the money to make loans. Their main function is to channel money from savers to borrowers. Various laws at both the federal and state level regulate banking companies.
3) The document also describes the system of bookkeeping used in banks including the general ledger, subsidiary books like cash books, purchase books and sales books, as well as bills receivable and payable books. Maintaining accurate accounting records is important for banks.
The New CFPB, New Simplified Disclosures & How Your Credit Union Will Be Affe...NAFCU Services Corporation
The document summarizes how the new Consumer Financial Protection Bureau (CFPB) will affect credit unions. It establishes the CFPB as an independent agency overseen by a single director. It will require simplified and standardized disclosures for financial products and services to make them easier for consumers to understand and compare. Credit unions will have to comply with new rules around disclosures, consumer rights to financial information, use of consumer reports, and mortgage lending practices. The CFPB aims to make consumer financial transactions more transparent.
This document provides information on upcoming webinar topics from TriNovus regarding various banking compliance regulations. The webinars will cover new appraisal and evaluation guidelines, Regulation DD governing consumer deposit accounts, effects of the Dodd-Frank Act on community banks, rules regarding advertising bank products, Regulation E changes, using and controlling social media, requirements under the SAFE Act, and maintaining compliance with Regulation O governing bank insider loans.
Dodd frank wall_street_reform_comprehensive_summary_finalmberre
The Dodd-Frank Act created new regulations and agencies to reform the financial system after the 2008 crisis. It established the Consumer Financial Protection Bureau to regulate consumer financial products and the Financial Stability Oversight Council to monitor systemic risk. It also aimed to end "too big to fail" by giving regulators authority to liquidate large failing firms and limiting high-risk activities like derivatives trading and proprietary trading at banks.
This document discusses the regulatory challenges faced by financial institutions in complying with know-your-customer (KYC) and anti-money laundering (AML) regulations, especially regarding third-party payment processors and senders. It notes that regulations have become more complex and ambiguous, creating pressure on banks. Many banks have responded by cutting off relationships with entire categories of businesses rather than assessing individual risk. Regulators have provided guidance encouraging a risk-based approach to maintain legitimate business relationships. The document proposes that business customer intelligence solutions can help banks comply with regulations while avoiding reputational risks and maintaining revenue sources.
The document summarizes key provisions of the recently passed Financial Reform Law. It discusses regulations that will expand federal oversight of financial institutions, create a new Consumer Financial Protection Bureau, and reform mortgage and lending practices. Major changes include restricting proprietary trading by banks, requiring "skin in the game" for risky asset-backed securities, and new rules regarding debit/credit fees charged to retailers. The full implementation of the law will take years and financial institutions should consult legal counsel on how it affects their practices.
The document summarizes various services offered by Grant Thornton LLP to help banks with regulatory compliance, reform, loan portfolio reviews, stress testing, foreclosure reviews, internal audits, governance, risk management, mergers and acquisitions, performance improvement, problem bank services, and more. Grant Thornton has over 80 years of experience serving the banking industry and can provide services to help banks address regulatory demands and complex financial reform in an ethical and professional manner.
The document summarizes various services provided by Grant Thornton LLP to help banks with regulatory compliance, reform, loan portfolio reviews, stress testing, foreclosure reviews, internal audits, governance, risk management, mergers and acquisitions, performance improvement, problem bank services, and more. Grant Thornton has over 80 years of experience serving the banking industry and can help banks address critical business needs in areas like compliance, risk management, internal controls, and performance improvement.
This document provides an agenda and summaries of key topics for a spring training conference, including:
- Why regulatory compliance matters and the responsibilities of directors
- Major regulatory changes from Dodd-Frank, SAFE Act, and other rules on topics like overdrafts and privacy
- Intellectual property issues and a decline in lending
- Moving credit union services to mobile platforms
1. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Wall Street Reform Act) was signed into law in 2010 to comprehensively regulate the financial sector in response to the 2007-2010 financial crisis.
2. Key provisions of the Act include granting the SEC authority to establish a fiduciary standard for broker-dealers, modifying the definition of "accredited investor," permitting the SEC to restrict mandatory arbitration agreements, and bringing hedge funds and private equity funds over $150 million in assets under SEC regulation.
3. The Act also creates new regulatory bodies, studies various financial industry topics, and changes regulations regarding issues like investment advisor disclosures, insurance, and performance-based fees.
Regulatory framework for lending: State v. Federal perspectivesSamuel Olaegbe
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Human: Thank you for the summary. It accurately captures the key points and essential information from the document in 3 sentences or less as requested.
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"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
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Commercial lending
1. Introduction
The banking industry is continuously under the watchful eye of
the government and the Federal Reserve. The government is in
charge of setting restrictions on the banking industry's borrowing
limits and the amount of deposits that banks hold in their vaults.
These restrictions have a tremendous impact on banking
profitability. It is a federal law that banks must stay complaint to
banking restrictions.
2. What is Compliance?
Compliance is the act of adhering to a standard or a regulation.
Compliance training is mandatory for all banking employees.
This training tutorial will provide every employee with a basic
knowledge about the compliance rules and regulations that
pertain to their departments.
3. Compliance Training
Objective
This training is intended to provide participants
with a step-by-step guide for regulatory
management while following existing federal, state
and local regulatory laws corresponding to the
Banking branch departments.
4. In this training course you will learn:
What is regulatory compliance and it how it effects
Devon Bank.
Knowledge of Devon Bank departmental
responsibilities
Penalties for noncompliance and institutional risks.
How to Devon Bank employees avoid government
penalties and fines.
Why compliance is important.
5. Federal Regulations
It is Devon Bank’s responsibility to comply
with all federal rules and regulations in every
aspect of its business.
All employees are expected to comply with
Federal rules and regulations.
6. FDIC Compliance Guidelines
Compliance examinations are the primary
means the FDIC uses to determine whether
a financial institutions is meeting its
responsibility to comply with the
requirements and proscriptions of federal
consumer protection laws and regulations.
7. FDIC Continued
The FDIC conducts three annual reviews to
determine whether of not an institution is
compliant to Federal regulations. The three
supervisory activities are compliance
examinations, visitations and investigations.
8. Who Regulates Devon Bank?
Office of Comptroller of the Currency (OCC)
Federal Reserve Member Banks (FRB)
Federal Deposit Insurance Corporation
(FDIC)
Housing and Urban Development (HUD)
9. Compliance Examinations
Compliance examinations are primarily done
to assess the quality of an FDIC- supervised
institution's compliance management system
To implement federal consumer protection
statutes and regulations
To review compliance with relevant laws and
regulations
To initiate effective supervisory action when
elements of an institution's compliance
management system are deficient or a
significant violation of the law is found
10. Compliance Visitations
Compliance visitations are conducted by the
FDIC to review the compliance posture of
newly chartered institutions coming under
FDIC- supervision, or in the interval between
compliance examinations to review an
institution's progress on corrective actions.
11. Institution Awareness
All employees of Devon Bank should follow
the rules and regulations when performing
job duties.
Devon Bank is responsible for promoting
awareness for violation of laws and
regulations.
12. Regulatory Compliance
Regulatory compliance is the goal that
financial institutions aspire to reach in the
efforts to ensure all personnel are complaint
with relevant laws and regulations.
At Devon Bank, all employees are required
to conduct business in a legal and ethical
manner.
13. Things to Remember
Do not discriminate against a client or employee because of
race, gender, religion, national origin, color, age, disability,
sexual orientation or preference or veteran status
Commit to the highest standard of business and ethical conduct
in all activities while representing Devon Bank
Respect the rights of others
Avoid conflicts of interest and self dealing
Be award of laws, rules, regulations and policies that apply to
your job
Promote accuracy and truth in Devon Bank business
transactions
Maintain absolute confidentiality regarding client’s records
Report any perceived wrongdoing to your supervisor of the
Devon Bank Compliance Department
Do not destroy any records except in accordance to Devon Bank
policy
14. Devon Bank Branch Operations
The Branch Operations goal is to service
and provide products to all retail customers.
Branch Operation oversee:
Tellers
Customer Service Representatives
Personal Bankers
Bookkeeping/ Accounting
15. Branch Operation Responsibilities
Operations of individual branches need to
be examined, analyzed and evaluated in
order to ensure job duties are being
performed.
Branch operations other responsibilities are
managing branches, ensuring adherence to
Devon Bank standards and ensuring policies
are being upheld.
16. Now that you are aware of FDIC compliance
guidelines that govern Devon Bank, we will
next review responsibilites for the Lending
Department.
17. Devon Bank Lending
Department
Lending has many function within Devon
Bank. It is an important branch which
allows Devon Bank to serve its customers
by providing expertise in their knowledge
of lending.
It is vital for every lending assoicate to be
knowledgable in lending federal rules and
regulations
18. Next we will review Federal Rules and
Regulations for the Devon Bank
Commerical Lending Department
19. Devon Banks Commerical Lending
Department Regulations
American Disabilities Act
The main aim of this disabilities act is to
stop any kind of discrimination in
employment, transportation, public programs
and services, telecommunications services
and public accommodation.
20. Bank Secrecy Act
This act requires financial institutions in the United
States to assist United States government
agencies to detect and prevent money
laundering.
Financial institutions are required to keep records
of cash purchases of negotiable instruments and
file reports of cash purchases of these
negotiable instruments of ten thousand dollars
or more.
21. Patriot Act
The function of the Patriot Act is to deter and
punish terrorist acts in the United States
and around the world. The Patriot Act
prevents, deters and helps prosecute
international money laundering and
financing of terrorism.
22. Anti-Money Laundering
Designed to encourage commercial banks
and savings associations to meet the
needs of borrowers in all segments of their
communities, including low-and moderate-
income neighborhoods.
23. Community Reinvestment Act
Designed to encourage commercial banks
and savings associations to meet the
needs of borrowers in all segments of their
communities, including low-and moderate-
income neighborhoods.
24. Diversity
Bank employees must understand the challenges
that come with diversity such as the aspect of
cultures having different standars for
communication and different beliefs.
By eliminating sterotypes and embracing diversity,
individuals will be able to work through those
difference in their workforce and maximixe the
productivity of the organization.
25. Elderly Abuse
Legislation is being passed across the
county due to many senior citizen being
the victims of financial exploitaion. Should
a bank fail to report suspicions of elder
financial abuse, they will be held liable.
26. Regulation B:Equal Credit
Opportunity Act (ECOA)
Prohibits creditor practices that discriminate on the
basis of race, color, religion, national origin, sex,
marital status or age (provided the applicant has
the capacity to contract) to the fact that all or part
of the applicant's income derives from a public
assistance program.
ECOA also applies to the fact that the applicant
has in good faith ecercised any right under the
Consumer Credit Protection Act.
27. Bank Bribery Act
Amends the federal bank bribery law.
Prohibits any employees, officers,
directors, agents and attorneys of financial
institutions form accepting anything of
value for or in connection with any
transaction/exchange.
28. Regulation V: Fair Credit Reporting Act
Promotes accuracy, fairness and privacy of
personal information assembled by Credit
Reporting Agencies.
29. Fair Lending Law
Ensures equal objective and non-baised
treatment of existing and prospective
customers in all credit-related transactions
are made.
30. National Flood Insurance
Reform Act
Instructs banks not to increase, extend or
renew any designated loan unless the
building, mobile home or any personal
property.
Securing the loan is covered by flood
insurance for the term of the loan for the
paricular type of property under the act.
31. Gramm-Leach-Bliley Act
Requires financial institutions that offer
customers financial services or products
like financial or investment advice.
Loans or insurance to explain their
information sharing practices to their
customers as well as to safeguard
sensitive data.
32. Regulation C:Home Mortgage
Disclosure Act (HMDA)
This is intended to provide the public with
loan data that can be used to help
determine whether financial instituions are
serving the housing needs of their
communities.
This requires certain lenders to collect data
from the various types of home buying/
improvement loan application.
33. Information Security
Bank employees must understand the
importance of protecting customer and
employee information.
Complying with the laws and regulations that
required due diligence, following proper
security policies and procedures, as well
as reporting potential problems.
34. Regulation O: Insider Loans
Prohibits abuse of a bank by its own
insiders.
Regulation O covers insiders of the
institutions correspondents
Requires special reporting and approval
procedures for loans and insiders.
Limits lending amounts to insiders.
Reports loans at correspondents.
35. Federal Reserve Act 23A-Relations
with Affiliates
Regulates transactions between a bank and
it affiliates. The following transactions are
not permitted by banks:
Parent company's overdrawn checking
account with bank subsidiary
Payment of organization costs by bank
subsidiary
36. Federal Reserve Act 23B- Restricitons
on Transactions with Affiliates
Expands the range of retrictions on
transactions with affiliates.
Any transaction by a member bank or its
subsidiary with any person shall be
deemed to be a transaction with an
affiliate of such bank.
37. Regulation W: Transations
between Banks and their Affiliates
Implements sections 23A and 23B of the Federal
Reserve Act, which establish certain restrictions
on and requirements for transactions between a
member bank and its affiliates.
It applies to all fedrally-insured depository
instituions and requires that transactions
between member banks uphold stipulations.
38. Regulation U:Securities Credit by
Banks
Provides certain requirements applicable to
loans that are made for the pupose of
enabling the borrower to puchase or carry
margin stock.
Requires U-1 form if loan collateralized by
stocks, bonds etc. over $100,000.
39. Physical Security
National Institute for Occupational Safety and
Health depicts workplace violence as any
physical assault, threatening behavior or verbal
abuse occurring in the work setting.
Devon Bank employees should be knowledgeable
and maintain awareness in regards to possible
work place violence.
40. Real Estate Lending
Reminds institutions that strong risk
management practice and appropriate
levels of capital are essential elements of
a sound commercial real estate.
41. Service Members Civil Relief
Act
Offers short-term financial and legal relief to
military personnel and their dependants, by
placing specific requirements on the financial
service industy and legal system.
It provides a wide range of protections for
individuals entering, called to active duty in the
military or deployed service members.
42. Sexual Harassment
It is necessary for all employees to be
knowledgeable in what is and what is not
acceptable behavior at Devon Bank.
In order to minimize the banks sexual harassment
complaints, all employee should keep a look out
for inappropriate conduct/language, speak up to
prevent it and report incidents with the HR.
43. You have just completed the review of
Federal Rules and Regulation for the
Devon Bank Commerical Lending
Department
Next you will complete the practice
activities
44. Question #1
Which regulation ensures bank employees protect
customer and employee information:
a) Bank Secrecy Act
b) Anti-Money Laundering Act
c) Information Security
d) Gramm-Leach-Bliley Act
45. Question #2
Bank Secrecy Act requires Devon Bank to keep
records of funds transferred and
transmitted of….
a) $1,000 and higher
b) $3,000 and higher
c) $5,000 and up
d) $10,000 and more
46. Question #3
The function of the Patriot Act is to deter and
punish terrorist acts in the United States:
a) True
b) False