|Panelist(s) Info:||Jack Holzknecht (Bio)
Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 42 years. In 37 years as a trainer over 130,000 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.
The rules for open-end credit require action before, during and after opening an account. Disclosures are required when opening an account, for each billing cycle and when changes are made. There are very specific rules for resolving errors. Specific guidance is provided for applying payments and for handling credits.
Open-end credit can be secured or unsecured. The credit may be accessed by card, check or by other means. Disclosure and other rules vary depending on the method of access and the presence and nature of collateral. Disclosures tend to come from more than one source, for example loan origination software and core accounting systems. Often errors occur because the set up of the two systems lack consistency.
Errors can result in civil liability, enforcement actions and reimbursements. Damages are often substantial because errors tend to systematic errors, where the system makes the same error on a consistent basis.
This two-hour program focuses on the basic rules for open-end credit. If a financial institution offers any form of open-end consumer credit staff members need to understand the basic rules that govern the product.
Who Should Attend?
The program is designed for management of the loan department, Compliance Officers, lenders, processors, marketing staff and auditors.
RW Advantage - Webinars
Regulation Z - Open-End Credit Rules
Recorded On: Tuesday, October 23, 2018
Price: $265.00* < Back To Details
* Invoice will include sales tax as applicable.