April 27, 2023
Here are four significant items of note:
The Consumer Financial Protection Bureau (CFPB) finalized the Small Business Data Collection rule on March 30, 2023. We are in the process of reviewing the regulation and will soon offer two online courses: In-Depth and Practical Application. Note that the effective date of the new rule varies depending on your bank’s small business loan origination numbers in the prior two calendar years. Effective dates are as follows:
Oct. 1, 2024 for those that originated 2,500 or more
April 1, 2025 for those that originated 500 or more
Jan. 1, 2026 for those that originated 100 or more
FDIC insurance coverage rules are changing for Revocable and Irrevocable Trusts and mortgage servicing accounts, effective April 1, 2024. We will be updating the Federal Deposit Insurance Corporation (FDIC) course to address these changes.
A new course on Regulation U will be coming soon.
The following courses will be updated the first week of May: Establishing an IRA, Funding HSAs, HSA Distribution Issues, HSA Introduction and Establishment, HSA Portability and Compliance, IRA Contributions, IRA Distributions, IRA to IRA Transfers and Rollovers, and Traditional IRA RMDs.
Did you know that you can have more than one Administrator in the Learning Management System (LMS)? Spread the joy. Collaborate on your bank’s education program and take some of the burden off your shoulders.
Always have a back-up who knows the
system (succession planning at its finest). To add additional LMS Administrator(s) to the system, simply email Lori ([email protected]) with the person’s
name and email address.