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This two-hour webinar recording explains the current status of the massive new rule and explains, section by section, the various requirements and the actual or proposed effective dates.
- What loans are covered by the rule, what loans are exempt, and options for managing loan products to avoid coverage;
- The basic requirements of the Payday Rule including:
- Key definitions from subpart A;
- A review of the delayed underwriting provisions from subpart B;
- The payments provisions, including the unfair and abusive practices, prohibited payment transfer attempts rules and the disclosure requirements for attempted payments, from subpart C; and
- The information furnishing, recordkeeping, anti-evasion and severability provisions of subpart D.
- When the various provisions take effect; and
- The basic components of a Payday Loan compliance management system.
The recording is designed for lending department management, operations staff, lenders, compliance officers, auditors, and everyone involved in implementing the new rules or adapting current offerings to avoid the compliance burden.
Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 43 years. In 38 years as a trainer over 145,000 bankers (and many examiners) have participated in Jack’s live seminars and webinars. Jack’s career began in 1976 as a federal bank examiner. He later headed the product and education divisions of a regional consulting company. There he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by a number of state bankers associations. As a contractor he developed and delivered compliance training for the FDIC for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.