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.
With the recent changes in leadership at the CFPB, a new era is upon us. While it will take some time for many of the changes in this new era to unfold, there are many signs and hints as to what is to come over the next few year as it relates to regulatory compliance. To start preparing now for many of the changes that are yet to come, financial institution must ensure their regulatory change management programs not only keep up with current changes, but also look ahead as to what changes are coming down the pike.
This means that financial institutions must spend a great deal of effort monitoring, searching for, and understanding current and potential regulatory changes. While financial institutions often 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 Spring 2022 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 January, February & March of 2022 (see below for an outline of course topics).
One topic we cover in detail (in Part II of our program) are the BSA Exam Manual changes from December 2021 (which we have not yet covered in a prior program). These changes were particularly interesting as the Exam Manual section on politically exposed persons (PEPs) had a pretty major overhaul and seems to be headed in a slightly different direction than what BSA professionals have been accustomed to.
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.
3.75 CRCM, CAFP, CERP Credit: ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The Spring 2022 Quarterly Compliance Update has been approved for 3.75 CRCM, CAFP, CERP credits. This statement is not an endorsement of this program or its sponsor. Certification holders must report these credits at aba.csod.com.
Regular Price: $349
PREMIUM MEMBERSHIP: Each of our quarterly compliance updates are included in all three of our premium membership options. Premium members can automatically access this program through the class login option on our site, and by choosing the Spring 2022 Quarterly Compliance Update from the list of classes.
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 3 hours and 6 minutes.
The content of this program will include :
Misc Agency Activity
Video 1 - January 2022 Updates
Introduction
CFPB Reports Deficiencies in Complaint Response of Three Credit Bureaus
CFPB Sues for Illegal Debt Collection Practices
CFPB Reminds Creditors of the No Surprises Act
CFPB Settles Lawsuit with NACA, et al.
CFPB: It’s Illegal to Penalize Borrowers Based on Religion
And more!
Video 2 - February 2022 Updates
CFPB’s Article on Junk Fees
OCC Updates Processes on Inputs and Consumer Complaint Referrals
Federal Bank Regulatory Agencies Announce the 2022 NICRC
FDIC Acting Chairman Announces Priorities for 2022
OCC Issues Civil Money Penalty Against a Bank Officer
And more!
Video 3 - March 2022 Updates
CFPB Releases Report on Medical Debts
Treasury Convenes to Discuss Efforts to Address Climate Change
OCC Acting Comptroller Discusses Climate Risk, Diversity and Inclusion
OCC Issues Updated “Large Bank Supervision” Booklet
CFPB Director’s Statement on the Digital Assets Executive Order
And more!
FEATURED TOPIC - BSA Exam Manual Changes
On 12/1/21, the Federal Financial Institutions Examination Council (FFIEC) released their fourth update of their BSA/AML Examination Manual. This release, which is the fourth update in the last two years, added one new section and updated three existing sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. This video will discuss the updated sections:
Introduction - Customers (new)
Charities and Nonprofit Organizations
Independent Automated Teller Machine Owners or Operators
Politically Exposed Persons
NOTE: This was the same video that was included in the BSA Annual Update (Spring 2022).
BSA/AML
FDIC and FinCEN Launch Digital Identity Tech Sprint
FATF - Covid-19 and the Changing Money Laundering and Terrorist Financing Risk Landscape
FinCEN Issues Proposed Rule for SAR Sharing Pilot Program
FinCEN Announces Extension of the Comment Period for its Real Estate Advance Notice of Proposed Rulemaking
FinCEN Releases Update on the BOI Reporting
And more!
NOTE: This was the same video that was included in the BSA Annual Update (Spring 2022).
CRA & HMDA
CRA
Agencies Release CRA Ratings
Agencies Release List of Planned CRA Exams
Agencies to Release CRA Proposal
OCC Issues FAQs on the December 2021 CRA Final Rule
HMDA
CFPB Issues 2022 Reportable HMDA Data Reference Chart
Revised HMDA Getting It Right Guide for 2022
““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 more 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.
