Community Bankers for Compliance Program – Session IV
As planned, the fourth session of the 2021 WBA Community Bankers for Compliance will be held in-person!
October 26, 2021, Stevens Point – Holiday Inn Hotel & Convention Center
October 27, 2021, Madison, DoubleTree by Hilton Madison East
TOPIC: Fair Debt Collection Practices Act and Home Equity Lines of Credit
The fourth quarter 2021 Community Bankers for Compliance program will focus on two different areas of a bank’s lending program.
First we will discuss the revisions to the Fair Debt Collection Practices Act regulation. This was originally going to be a topic in the second quarter 2022, however the CFPB delayed implementation until January 2022. Recently they reverted implementation back to November 2021, making this a time sensitive topic. Regardless of your status regarding the regulation, the presentation will provide useful information for all banks. For instance, how can you legally collect via text message, voicemail, email or other electronic means? Many banks will not have to comply with the regulation, or only portions of the regulation. The manual will include the whole regulation, as well as the new Small Entity Compliance Guide. But we will focus our attention on those areas that will be most useful to attendees.
In recent weeks we have received a number of questions, assignments, and review work for home equity lines of credit. While nothing really has changed in the regulation, the presentation will focus on those areas that appear to be the most troublesome. We will cover the entire HELOC portion of Regulation Z, but will focus on those items that have been most prevalent in hotline questions and phone calls. While most banks have a HELOC program, we will be covering this subject at the end of the day so that those banks that do not have a program can either learn about it as they are getting ready to begin offering the product or simply call it a day because it does not apply to them.
The subjects for the regulatory update will be determined by circumstances and releases from the various agencies.
Subjects for future seminars will be shaped by regulatory events as they unfold. The CBC quarterly compliance program remains committed to providing as much up-to-the-minute information as possible. The program will closely monitor releases from the CFPB and other agencies to assure that you have the most up-to-date and accurate information possible.
Who Should Attend?
Compliance officers, senior mortgage management, lending management, lenders and processors, and any others with responsibilities for lending should attend. Additionally, audit personnel will find this session useful.