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Digital Banking Issues – What Are the Compliance Requirements?

We are seeing a rapid shift in the way financial institutions interact with their customers and conduct business to a more remote, online delivery model. Not that these capabilities haven’t always been present, but since the pandemic, much more business is conducted remotely, and this is a trend we can expect to continue. What are the requirements to keep in mind when conducting business in this fashion?

OnDemand
Recorded Wednesday,
September 25th, 2024
Presented by Carl Pry
2h total length
2.5 CRCM Credits
$299.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Auditing
  • Compliance
  • Customer Service
  • Lending
  • Lending Compliance
  • Management/Employee Development
  • Risk Management/Legal
  • Bank Legal Counsel
  • Branch Manager
  • Compliance Officer
  • Customer Service Representative
  • Internal Auditor
  • Loan Closer
  • Loan Operations Manager/Specialist
  • Senior Management
  • Training Manager
  • Trainer

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What challenges exist to remote business interactions? For starters, there are Bank Secrecy Act issues when opening accounts and maintaining relationships with customers who are never seen.

The rise in electronic transactions means increased attention to Regulation E compliance, for example, especially when it comes to handling disputes (which are expected to increase in number). The provisions of the E-SIGN Act must be followed to the letter as well. In lending, there is now the capability to originate a loan from application to closing without ever meeting the borrower (and this includes notarization).

These are just a few examples of the many compliance issues at play in a remote environment. In this webinar, we’ll discuss these many requirements and provide you with a comprehensive grasp of the issues involved.

What You'll Learn

  • E-SIGN issues and requirements – what can we provide electronically and when?
  • Reg. E issues, including disputes – making sure you understand the rules
  • Identifying customers under BSA and beneficial owner requirements, as well as OFAC
  • Credit card disputes under Reg. Z
  • Handling the loan application and closing process remotely
  • Handling complaints
  • Online communication through email and social media – regulatory guidance
  • Advertising issues – reaching remote customers, including opt-out rights
  • Remote Online Notarization (RON) – incorporating this into your process
  • Fair lending issues, including digital redlining
  • Privacy and information security issues

Who Should Attend

Anyone at your institution that deals with customers in a non-in-person environment, including over the phone and/or electronically, will benefit from this session. This includes customer service representatives, loan officers, compliance professionals, auditors, legal staff, management, and many more.

Carl Pry

Instructor Bio

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior Advisor for Asurity Advisors in Washington, DC. Through his more than 30-year working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves as the Chair of the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at scores of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

Continuing Education Credit Information

Digital Banking Issues – What Are the Compliance Requirements? has been approved for 2.5 CRCM credits. This statement is not an endorsement of this program or its sponsor. Credits are redeemable for both Live and OnDemand viewing. For questions on certificates, please email support@oncourselearning.com. Certification holders must report these credits at https://aba.csod.com.

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