Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
If you haven't done so already, make sure you sign up for our free membership where you get access to many member-only videos, articles, and other resources.
Normally, regulatory activity takes place on almost a weekly basis. In today’s environment, however, regulatory activity has been taking place on an almost daily basis.
This means that financial institutions must spend great efforts keeping up with these changes, or they risk something falling through the cracks. While financial institutions utilize internal resources to do all of the monitoring of regulatory changes, this isn’t usually cost effective when you add up the amount of time necessary to monitor - and understand - the change taking place, let alone determine if the changes apply to the organization. For that reason, we have created a Quarterly Compliance Update program that is designed to provide a quick and easy way to stay informed of the regulatory compliance activity that took place in the prior quarter.
The Fall 2021 Quarterly Compliance Update is designed to provide compliance professionals with the “need to know” information about what compliance activity took place during the months of July, August, & September of 2021 (see below for an outline of course topics).
For our featured topic (Part II) this quarter, we are including a 46 minute video on the recent CFPB proposal that would significantly alter Regulation B by adding a new small business data collection and reporting requirement. When finalized, this new Regulation B requirement will have a significant impact on commercial lenders as the proposed rules aren't that different than HMDA (but may affect many non-HMDA financial institutions). While this topic is still currently a proposal, we believe the impact will be so significant on some financial institutions that this topic is essential to discuss in our quarterly update series. Plus, comments on this proposal will be accepted through very early January 2022, so this program can be used as an executive summary of sorts to help lending institutions determine if and how this proposed rule may affect them when it becomes finalized.
While specifically designed for Compliance Officers who have the responsibility of keeping up with new rules and regulation changes, this program would be beneficial for anyone with compliance management responsibilities in a financial institution who needs to stay current with changes in the compliance world. For example, this program could be shared with compliance assistants, management, or a Compliance Council/Committee to keep them apprised of current activities and enhancing the organization’s overall compliance management system. In addition, auditors who have the responsibility of reviewing compliance areas would also greatly benefit from this program.
Regular: $329
NOTE: If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.
The class is presented in multiple videos and covers the following topics from the prior quarter. Due to time constraints of the program and perceived applicability to attendees, some topics will be reviewed in greater details than others.
The total teaching time of this program is still TBD.
The tentative content of this program will include (but could change once finalized):
Misc Agency Activity
Video 1 - July 2021 Updates
Introduction
FHFA Publishes Policy Statement on Fair Lending
Proposed Guidance for Third-Party Relationships
FDIC Proposes Deposit Insurance Simplification
FHFA Announces Multifamily Tenant Protections
CFPB Issues Effective Date of FDCPA Final Rules
And more…
Video 2 - August 2021 Updates
OCC Updates Remittance Transfer Exam Procedures
CFPB Interpretive Rule on Juneteenth Federal Holiday
CFPB Updates Mortgage Servicing Compliance Guide
CFPB Report on Mortgage Servicer’s Pandemic Response
FFIEC Guidance on Authentication and Access to Financial Institution Services and Systems
FDIC Compliance Manual Updates
Agencies Issue Guide on Fintech Relationships
And more…
Video 3 - September 2021 Updates
Agencies Extend Comment Period for 3rd Party Risk Management
OCC Updates Handbook for Earnings and Regulatory Reporting
CFPB Report on Complaints by Location
CFPB Reminds of Mortgage Servicing Rules
And more…
FEATURED TOPIC - CFPB Small Business Data Collection Proposed Rule (46 min)
Background
Covered Financial Institutions
Covered Applications & Transactions
Proposed Requirements to Collect & Report Data
Provisions Regarding Availability & Publication of Data
“Firewall” Requirements
Recordkeeping & Compliance/Effective Dates
BSA/AML
FinCEN Creates New Positions
FinCEN SAR Filings
SAR Guidance on Child Exploitation
FinCEN Starts Process for New Antiquities
And more….
CRA & HMDA
““The videos are very informative, Adam is a great teacher and funny too, and the manuals are awesome!””
““The information is always something that is usable. I have found that I have learned something new almost every time. They are ore enjoyable than sitting in a classroom and more cost effective because you do not have to drive somewhere for the training.””
““This is a great reliable resource, not your typical hum drum boring compliance training. Adam finds a way to make it engaging!””
““Adam does a great job of conveying the quarterly changes and activity in his quarterly updates. Great information and the material is available for printing and future use.””
““The presentation method was great and the comprehensive manual that came with the class was a good add on!””
This Compliance Class can be completed without leaving your office and provides you with everything you need to know about what compliance related activity took place during the prior quarter.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
