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The market for consumer financial products and services continues to evolve – requiring banks to regularly analyze and review existing products. If a bank is contemplating changes, it must formally amend the existing agreement and determine the proper way to notify customers to ensure regulatory compliance. To further complicate matters, the timing, content, and disclosure requirements are not consistent for Regulation DD, Regulation E, and Regulation Z.
This webinar will outline the requirements for providing compliant change-in-terms notices and explain when notices are not required. By having a comprehensive plan for modifying the terms of existing products, banks can comply with regulatory requirements and provide a clear, transparent message to customers.
HIGHLIGHTS
Timing, content, and disclosure requirements for change-in-terms notices
Formatting and delivery requirements for notices
Restrictions and prohibitions on changing terms on certain products
Special disclosure requirements for credit card accounts
Requirement to reevaluate APR increases on credit cards
Tips for handling situations unique to mergers
TAKE-AWAY TOOLKIT
Regulatory sections and details for change-in-terms notices
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
DON’T MISS THIS RELATED WEBINAR!
Quarterly Emerging Leader Series: Establishing New Product & Service Controls
on Tuesday, August 2, 2016
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Operations, compliance, marketing and audit teams.
ABOUT THE PRESENTER – Steven Van Beek, Esq., NCCO, Howard & Howard Attorneys PLLC, is an attorney where he concentrates his practice in the area of financial regulations. He has intimate knowledge of the operational issues facing financial institutions and the best practices they can follow to reduce compliance, strategic, and reputation risks. Prior to joining Howard & Howard, he served as the Vice President of Regulatory Compliance at the National Association of Federal Credit Unions (NAFCU). He received his Bachelor’s from Hope College and his J.D. from George Mason University School of Law and is a member of the American Bar Association.
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