In today’s banking environment as soon as one big new regulation is implemented another pops up. ICBA’s compliance training opportunities and exceptional resources, online and offline, will help your community bank stay informed and one step ahead of the regulators.
The Who, What, When, Where, Why, and How of Fraud. This session is an update covering current fraud activity, types of fraud, and methodologies used by fraudsters that may affect your bank and customers. The session covers what makes victims vulnerable to fraudulent activity.
These crimes range from fairly simple operations like basic theft or fraud carried out by individuals or small groups to highly sophisticated rings seeking funding for criminal enterprises or terrorism.
Although financial criminals are often well-organized and persistent, community banks can take steps to educate and increase awareness to thwart any attempts.
Prosecution of Financial Crimes Learning Objectives:
A representation, omission, or practice that actually misleads a consumer may be deceptive, but deception is not limited to situations in which a consumer has already been misled. Instead, an act or practice may be deceptive if it is likely to mislead consumers. A representation may be an express or implied claim or promise and may be written or oral. It may be deceptive to omit information if the omitted information is necessary to prevent a consumer from being misled.
An example of this was presented in a case brought by the OCC: The OCC brought an action against a credit card issuer for advertising that its secured credit card product did not require submission of funds for a savings deposit in order to receive a card with a usable amount of available credit. However, the issuer failed to disclose that the deposit requirement and various fees would be charged to the card, so that the vast majority of applicants received little or no available credit.
Reference: CFPB Exam Manual V.2 October 2012.
The ICBA Compliance Vault is now available as a member benefit to all ICBA members.
The Compliance Vault is a reliable search tool that helps you find answers to your regulatory compliance questions, with access to over 2,500 Q&As, select online courses, and documents.
Community Banker University offers a variety of online training options with courses that build knowledge and a strong foundation within key areas of the banking industry and professional development.
The courses in the Community Banker Compliance Certificate Program are designed to give community bankers the knowledge and skills they need to become experts in regulatory compliance. The certificate program consists of four critical learning areas.
One of the three elements of an effective compliance program is monitoring and corrective action. These compliance working papers are essential for monitoring your financial institution’s compliance with federal consumer compliance laws and regulations.
ICBA Member: $599
Annual Digital Renewal
ICBA Member: $299
The ICBA Compliance Deskbook is the industry’s premier resource for compliance information. Access regulations, important dates, agency guidance, questionnaires, and other resources in one place.
ICBA Member: $399
Annual Digital Renewal
ICBA Member: $249
The Bank Compliance Checkup Program provides a comprehensive system for on-going monitoring of your bank’s compliance with Deposit, Lending, Administrative and IT/Tech/Security regulations.