* Please note that the recording will not be immediately delivered to you. Upon purchasing please allow 24-48 hours for delivery. The recording will come in the form of a web link via e-mail from firstname.lastname@example.org. The training manual that corresponds with the recording will be automatically delivered upon purchasing via email from the website.
The CFPB has been criticized for providing guidance in the form of enforcement actions rather than by writing regulations.
In a March 9, 2016 speech Director Cordray confirmed that consent orders that accompany the Bureau’s public enforcement actions, “provide detailed guidance for compliance officers across the marketplace about how they should regard similar practices at their own institutions. If the same problems exist in their day-to-day operations, they should look closely at their processes and clean up whatever is not being handled appropriately.” He added that “it would be ‘compliance malpractice’ for executives not to take careful bearings from the contents of these orders about how to comply with the law and treat consumers fairly.”
To assure that financial institutions avoid “compliance malpractice” this program reviews many of the recent consent orders dealing with compliance-related matters.
This two-hour recording provides a thorough review of recent enforcement actions taken by various federal agencies. It assures viewers understand:
- The inappropriate actions taken by the institutions in each case;
- The lessons to be learned from the actions; and
- The steps needed to avoid similar problems.
You’ll receive a detailed manual and PowerPoint slides that serve as useful tools long after viewing.
Upon completion of this two-hour program participants understand the important details in cases involving:
- Fair Lending:
- Community Reinvestment Act:
- Unfair Deceptive or Abusive Acts or Practices:
- Bank Secrecy Act;
- Overdraft Guidance;
- Electronic Funds Transfer Act.
The recording is designed for lending and deposit account management and staff, compliance officers, marketing personnel, auditors and others who want to avoid charges of compliance malpractice.