A Certified Compliance Officer Has the Skills and the Knowledge Your Bank Needs to Ensure Compliance.

The Dodd-Frank Act has had a major impact on lending laws for financial institutions. Almost all lending regulations will be affected. It is more important than ever for compliance officers to keep up with changing regulatory requirements. It is a full-time job for a compliance officer just to keep up with changes to Regulation Z, Truth in Lending, because rules are changed again before the latest changes even become final.

The regulators are looking for evidence that your bank puts a premium on compliance. They want to know that your compliance officer’s skills are up-to-date with the latest compliance demands. You can give them what they’re looking for, and ensure that your bank’s compliance efforts are correct, when your compliance officer completes the Sheshunoff® Regulatory Compliance Certification Program Lending Requirements Module.

Successful completion of this module earns your candidate certification as a Sheshunoff Compliance Officer with a certificate suitable for framing and hanging on your wall. And it’s all done right in your bank at your candidate’s own pace and convenience.

Self-paced training has proved to be an effective, and cost-effective, way to learn a subject in detail. More is learned and retained when the training is self-paced, and the manual later becomes a handy reference to refresh the user’s memory and get fast answers.

Show the Regulators Your Compliance Officer Has What it Takes.

When a regulator sees a Sheshunoff Compliance Officer Lending Requirements Certificate hanging on your wall, it’s a sign that your compliance officer has the skills and knowledge necessary to handle the compliance challenges that lending operations present.

The Lending Requirements Module contains the following courses:

• Truth in Lending (Reg Z). Understand Reg Z finance charges; open-end credit, including home equity plans; and closed-end credit, including disclosures and requirements. Also learn how to meet adjustable-rate mortgage disclosure requirements.
• Servicemembers Civil Relief Act. Understand the protections guaranteed under this act and how they affect areas of your bank’s lending operations such as interest rate, debt collection, and affected third parties.
• Real Estate Settlement Procedures Act. Understand which loan types must comply with RESPA, which loans are exempt, and the disclosures that must be provided to customers.
• Equal Credit Opportunity Act (Reg B). Understand the key areas on an application affected by the regulation, the allowable methods of performing an evaluation of creditworthiness, and the required notices.
• Flood Disaster Protection Act and National Flood Insurance Act. Understand the general requirements of the federal flood insurance program, how to determine which requirements apply, the recordkeeping requirements, and how to comply with the mortgage portfolio protection program.
• Fair Credit Reporting Act and FACT Act. Understand the disclosure requirements when your bank obtains consumer reports, as well as the other rules that apply to consumer reporting agencies.
• Regulation U. Understand Reg U’s collateral test and purpose test, the requirements for extending credit and maintaining credit, and the need for a purpose statement.
• Consumer Leasing Act (Reg M). Understand the required disclosures, which consumer transactions do not require disclosures, and how to comply with disclosure requirements in the advertising of consumer leases.
• Regulation AA (Unfair or Deceptive Practices Act). Understand the impact of Reg AA on bank lending activities, identify bank activities that are vulnerable to unfair credit practices, and understand the revised credit card rules.
• Fair Debt Collection Practices Act. Understand the bank’s role as debt collector, know when a bank is or is not considered a debt collector, and know what information the bank as debt collector must disclose in a written notice to the consumer
• Homeowners Protection Act. Understand the required steps for termination of private mortgage insurance and know the notification and disclosure requirements.
• Fair Housing Rules. Understand the major fair housing requirements and how to satisfy them, the recordkeeping requirements, exemptions, and advertising rules.

• Fair Lending Laws. Understand the activities recommended by regulators to allow access to credit on an equal basis and the steps your bank must take to pass a fair lending review.

Regulatory Compliance Program

Each module covers a single key area of compliance in detail; each course in a module covers a single regulation. The modules can be completed in any order, so your candidate can get up-to-speed on the issues of greatest concern to you first and tackle other modules later.

When the course work for a module has been completed to the candidate’s satisfaction, he or she requests the final exam on that module. The Passing grades earn a certificate for that module.

To earn the program certificate, simply complete all five modules of the Regulatory Compliance Certification Program within a two-year period. When all five modules have been successfully completed, the candidate will receive a certificate to show the regulators, and others, that your bank has recognized and met the serious, demanding challenges of compliance.