Congress enacted the Financial Institutions Regulatory and Interest Control Act in 1978. The insider lending provisions of the law were implemented as Regulation O. Historical data show that insider abuse is at the heart of many bank failures. Examiners take very seriously their mission to prevent insider abuse. They frequently cite violations of Regulation O during examinations, and often take enforcement action.
Typical violations include illegal overdrafts to insiders or extensions of credit that exceed one of several lending limit provisions contained in the regulation. These violation generally result from a lack of adequate procedures. This program provides suggestions for procedures.
In other cases violations result from a lack of understanding of the fine details of Regulation O. The concepts are fairly straightforward, but contain enough details to cause confusion. This program provides detailed coverage of the basic requirements of Regulation O.
This Regulation O Lending to Insiders compliance management system include a comprehensive set of tools to help you ensure compliance. Tools included are a Policy Update, Procedures, Annual Survey Form, List of Insiders Form, New Insider Review Form, Insider Lending Checklist, Purchase of Sale of Asset Involving Insider Form, Calculation of Credit to Executive Officer Form, and Disclosure of Credit to Executive Officer Form.
The price of these product if purchased separately would be $235. The entire CMS package is $157, a 33% discount.