Posts

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Legal Q&A: Partial Exemption for HMDA

Q: When does the HMDA Partial Exemption Apply?

A: The Home Mortgage Disclosure Act’s (HMDA) partial exemption applies based on a loan-volume threshold for originations made during each of the two preceding calendar years. The Economic Growth, Regulatory Relief, and Consumer Protection Act created partial exemptions from some of HMDA’s requirements for certain financial institutions. In order for a partial exemption to apply, an eligible financial institution must meet a loan-volume threshold. The threshold is whether the institution originated fewer than 500 of closed-end loans and open-end lines of credit, counted separately, during each of the two preceding calendar years. For example, a partial exemption applies to an eligible financial institution’s applications for originations of, and purchases of closed-end mortgage loans if the institution originated fewer than 500 closed-end mortgage loans in each of the two preceding calendar years. To illustrate, consider the following two scenarios:

  • Bank A originated 490 closed-end loans during 2019, and 499 closed-end loans during 2020.
  • Bank B originated 490 closed-end loans during 2019, and 501 closed-end loans during 2020.

Bank A would receive the partial exemption in 2021 for closed-end mortgage loans. Bank B would not. Furthermore, Bank B would not receive the partial exemption in 2022. A similar analysis would need to be performed for open-end lines of credit. Banks should carefully consider their loan-volume thresholds in each given year if they are looking to take advantage of a partial exemption. Exceeding the threshold would mean required reporting of additional data fields.

If you have any questions on this topic or other matters of compliance, contact WBA’s legal call program at 608-441-1200 or wbalegal@wisbank.com.

By, Alex Paniagua

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Legal Q&A: EIP2 Payments Not Subject to Garnishment

Q: Has the Treasury Department issued a new round of Economic Impact Payments?

A: Yes. On December 29, 2020 the Internal Revenue Service (IRS) and the Treasury Department began delivering a second round of Economic Impact Payments (EIP2) as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. This round of payments includes direct deposit payments as well as paper checks. Discussed below are some similarities, and differences, between this round of payments and the first round.

The EIP2 payments are not subject to garnishments. This exemption will be indicated by an “XX” in their ACH identifier (XXTAXEIP2) and the check symbol. Furthermore, if the bank receives an EIP2 via ACH for an account that is closed, Treasury and IRS have instructed that the bank is to return the ACH as “account closed.” This is standard procedure pursuant to Chapter 4 of Treasury’s Green Book regarding the processing of electronic payments. Banks should also note that exceptions and returns should generally be processed as bank would normally, similar to the first round of payments.

Individuals alive on January 1, 2020 are eligible for EIP2 payments. If bank receives an EIP2 check payable to a deceased person, it should consider its typical procedures regarding checks payable to deceased individuals, including considerations as to existence of a proper endorsement. IRS has noted that it is conducting eligibility screening and will provide instructions for posting. Generally, as was the case with the first payments, it is the responsibility of the taxpayer to follow instructions as to when a payment is to be returned to IRS.

Banks have also begun asking questions related to offset. For an analysis of offset, WBA recommends bank consider working with its legal counsel. 

By, Alex Paniagua

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WBA Tells NCUA to Withdraw Proposed Revision to Chartering and Field of Membership Rules

On January 11, 2021, NCUA issued a proposed rule to expand the field of membership for multiple common bond credit unions. WBA filed comments on February 10, 2021, in opposition to this expansion.  

The proposal would modify the definition of service facility for select groups and underserved areas to include any shared branch, shared ATM, or shared electronic facility regardless of whether the credit union is an owner of the shared branch network. In addition, the proposal would erase the distinction between service to select groups and service to underserved areas as delineated in the Act. 

WBA commented that the proposal is another example of NCUA fueling the growth of the credit union industry, which undermines congressional intent to demand a heightened standard of in-person service for underserved communities. Further, WBA expressed concern that the proposal encourages abandonment of credit unions’ statutorily mandated physical presence and common bond requirements, which destroys the nexus between the credit union charter and the federally subsidized mission to provide financial services to underserved communities and people of modest means. 

WBA recommended that NCUA withdraw the proposal in its entirety. 

Click here to view the letter.

By, Ally Bates

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New PPP Guidance Issued Ahead of Administration Change

With President-Elect Biden taking office today at Noon, it means the political officials at all agencies, including SBA, will no longer be employed. As a result, a lot of guidance was issued last night ahead of this change in government control. The following highlights the new guidance issued on a variety of topics. 

Updated Forgiveness Applications Including Form for $150,000 or Less PPP Loans  

The three existing forgiveness applications have all been updated to incorporate changes made in the Economic Aid Act. Most notably, the new SBA 3508S is the forgiveness application form to be used for PPP loans of $150,000 or less. The new versions of SBA 3508, 3508EZ, and 3508S may be found here. At the same time, SBA issued last night an interim final rule addressing forgiveness requirements and loan review procedures. A summary of these changes follows.   

New Interim Final Rule on Forgiveness Requirements and Loan Review Procedures  

SBA issued a 62-page Interim Final Rule (IFR) that largely incorporates provisions related to forgiveness requirements and loan review procedures from the 2020 program, as amended by the new Economic Aid Act. This interim final rule was written in a question and answer format so WBA will be working on updating its Master FAQ document in the next few days to incorporate these additions. The updated FAQs cover the following forgiveness related topics: loan forgiveness process, eligible payroll costs, eligible non-payroll costs, reductions to forgiveness amount, documentation requirements, and lender hold harmless. In addition, the IFR contains FAQs related to loan review procedures. The new IFR may be found here. 

New Disclosure Form for Borrowers of Certain Controlling Interests   

The SBA last night issued new SBA Form 3508D – Borrower’s Disclosure of Certain Controlling Interests, which is required to be completed in a narrow set of circumstances with a PPP forgiveness application. The Economic Aid Act requires borrowers that received First Draw PPP Loans before December 27, 2020, to disclose whether a “Covered Individual” directly or indirectly held a “Controlling Interest” in the Borrower at the time the Borrower’s loan application was submitted to the PPP lender. A “Covered Individual” means (a) any one of the following Government Officials: the President, the Vice President, the head of an Executive department as defined in 5 U.S.C. § 101, or a member of Congress, and (b) the Spouse, as determined under applicable common law, of a Government Official described in clause (a), determined as of the time the Borrower’s loan application was submitted to the PPP lender. A copy of the form may be found here. 

More PPP information may be found on our Coronavirus Resource Page.

By, Ally Bates

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PPP FAQ due to Economic Aid Act

WBA staff has created this document on PPP FAQs due to the Economic Aid Act.

This document was last updated on 1/8/2021.

 

By, Eric Skrum

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WBA Summary: Banking Provisions in Omnibus Legislation

WBA staff has created this master document outlining changes made in the Consolidated Appropriations Act of 2021 that affect the banking industry.

This document was last updated on 1/7/2021.

 

By, Ally Bates

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Newest Round of Economic Impact Payments Not Subject to Garnishments

As banks across Wisconsin work to disburse recently received ACH files and negotiate the latest round of Economic Impact Payment (EIP) checks, banks need know there are differences between this round of EIPs and the previous disbursement. Under the newest round, if Treasury issues a check for the payment, “40436” will appear first in the MICR-line of the check. Treasury began printing checks last week and the first run of checks will have a payment date of January 6, 2021. If the payment is sent via ACH file, the ACH data will include “XX” in the ACH identifier (XXTAXEIP2) and the check symbol. The new data is meant to help identify the second round from a first round EIP. The distinction is important as this second round of EIPs is not subject to garnishments.  

If the bank receives an EIP via ACH for an account that is closed, Treasury and IRS have instructed that the bank is to return the ACH as account closed. This is standard procedure. See Chapter 4 of Treasury’s Green Book regarding the processing of electronic payments.

The new law provides that individuals alive on January 1, 2020, are entitled to an EIP this round. IRS is the agency responsible for verifying eligibility for payment before disbursement of an EIP. If the bank is asked to negotiate a Treasury-issued EIP check made payable to a deceased person, bank’s normal procedures regarding how it negotiates a check made payable to a decedent should be implemented. As is true for any check made payable to a deceased person, the bank should be careful to ensure it has a proper endorsement regarding the deceased party.  More information regarding the newest round of EIPs may be viewed here. Treasury’s Fiscal Bureau has created FAQs regarding bank operations which may be viewed here. 

By, Ally Bates

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Tax Credits Extended for FFCRA Paid Sick Leave and Expanded Family Medical Leave

The Families First Coronavirus Response Act (FFCRA) has not been extended. This means that after December 31, 2020, employers with fewer than 500 employees are no longer required to provide special paid sick leave and expanded family medical leave related to COVID-19. 

However, the recently signed Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA or COVID Relief Bill) does extend certain FFCRA tax credits for employers through March 31, 2021.  As a result, employers who, between January 1, 2021 and March 31, 2021, voluntarily provide paid sick leave and expanded family medical leave will receive tax credits in same fashion had the leave been provided before December 31, 2020.   

The tax credit extension does not change or increase the amount of paid sick leave or expanded family medical leave available under FFCRA. If an employee has used all available FFCRA paid sick leave and expanded family medical leave in 2020, the employee does not receive additional FFCRA leave despite the extended tax credit period. Also, the qualifying COVID related reasons for when an employee may take leave, the caps on the amount of pay an employee may be entitled to receive, and all documentation requirements of FFCRA remain the same.  

Management should consider whether to continue to offer the coverage, should notify staff, and update any FFCRA coverage notices accordingly. Careful recordkeeping should also be maintained to ensure FFCRA-related leave limits are not inadvertently exceeded. WBA is hopeful the Department of Labor will release updated guidance regarding the voluntary coverage, including to clarify that carryover of expanded family medical leave from 2020 into 2021 is permissible if an employer’s FMLA year resets during the extended period and the employee has unused FFCRA-related leave. WBA will share any updated guidance if it becomes available. 

By, Ally Bates

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What’s in Your TRID?

Or better yet, what’s not in your TRID?  It’s the never-ending saga between a mortgage lender who is trying to keep the customer happy, the mortgage processor who has nightmares about LE’s and CD’s, the auditor who plays the “gotcha” game, and the applicant who is trying to make sense of it all.  Therefore, it becomes imperative that all information contained in these complex disclosures are complete and accurate as possible. And whatever is not in your TRID can get you in trouble.

It has only been a few short years ago, five to be exact, when TRID was first introduced.  One would think after this year’s onslaught of mortgage refinances, mortgage processing staff would be experts in this regulatory field, but recent findings by the FDIC suggest otherwise. In fact, 86% of all compliance exams in 2019 (WI) had violations of TRID. Everything from loan costs, general information, calculating cash to close and closing cost details is fair game when it comes to making inadvertent mistakes.

So, what is a banker to do? First, select the best LOS system and test your defaults for accuracy including fees and third-party providers, including any updates considering our new era of refinance business. Building your system to be bulletproof from clerical errors may be your first line of defense.  Second, look for red flags within your disclosure that are relevant. For example, are you disclosing estimated PMI premiums on the initial LE when the estimated value exceeds 80%? Does the LE figures on your CD match the last revised LE issued to the customer? Third, be aware of when Taxes and Home-Owners Insurance is due and possibly considered a pre-paid, especially for loans that will close in the coming weeks. Lastly, don’t let your processor(s) make any changes to TRID documents that don’t follow the protocols of your LOS system. While bankers are always looking for workaround solutions, making hard changes to a TRID document can have negative and costly effects. 

Choosing the right LOS, being fully trained on TRID and utilizing resources to review your TRID documents and processes may keep your bank out of the 86% of financial institutions struggling to comply.  What is in your TRID (or not in your TRID) will make all the difference.  For further assistance on complying with this regulation, please contact me at jschmid@fipco.com.

By, Ally Bates

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WBA Comments on Seasoned QM Proposal

On August 28 CFPB issued a proposed rule to create a new category of qualified mortgages (Seasoned QMs). To be considered a Seasoned QM under the proposal, loans would have to be first-lien, fixed-rate covered transactions that have met certain performance requirements over a 36-month seasoning period. Covered transactions would also have to be held on the creditor’s portfolio during the seasoning period, comply with general restrictions on product features and points and fees, and meet certain underwriting requirements. The proposal would also require that the creditor consider and verify the consumer’s debt-to-income ratio or residual income at origination. 

Seasoned QMs would only be available for covered transactions that have no more than two 30-day delinquencies and no delinquencies of 60 or more days at the end of the seasoning period. Also, should there be a disaster or pandemic-related national emergency and as long as certain conditions are met, the proposal would not disqualify a loan from becoming a Seasoned QM for the failure to make full contractual payments if the consumer receives a temporary payment accommodation. 

WBA filed comments in support of CFPB’s efforts to create a new category of QM but noted that few Wisconsin banks would be able to utilize the rule as proposed. In addition, WBA provided suggestions and requests for clarification on certain aspects of the rule such as factors affecting eligibility during the seasoning period. Click here to view the letter.

By, Ally Bates

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Events

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Managing Zoom, Microsoft Teams, Slack, & Other Collaboration Platforms with Effective E-Policies

If you are part of the policy patrol, do you know how to manage the risks, records, and rules for e-collaboration platforms? Learn best practices for creating and implementing e-meeting platform policies and procedures with this jam-packed, can’t-miss program!

After This Webinar You’ll Be Able To:

  • Write and implement best practices-based policies and procedures (P&Ps) as well as records retention policies for Zoom, Microsoft Teams, Slack, and other videoconferencing and meeting tools
  • Create policies governing content and use of onsite, hybrid, and remote e-collaboration records
  • Form an e-collaboration policy team to assess risks, rules, regulations, and records
  • Use P&Ps to cut the risk of hostile work environment, harassment, and discrimination claims
  • Safeguard PII, NPI, and privacy in compliance with GLBA and other industry regulators
  • Manage unlawful and inappropriate language with content rules
  • Support e-collaboration policy with the right archiving, retention, and data protection technology
  • Enforce e-collaboration P&Ps with employee training and best-in-class technology tools
  • Minimize legal and regulatory liabilities by putting best practices-based policies, expert advice, and compliance tips to work immediately

Webinar Details
Microsoft Teams, Zoom, Slack, and other e-collaboration platforms escalate legal, regulatory, records, e-discovery, privacy, security, and other risks for financial institutions. Fully 27% of survey participants report one or more employees have used Teams to circumvent compliance requirements. Adding to the problem, remote staff may be tempted to play fast and loose with language when Zooming from home, increasing the likelihood of harassment, discrimination, and hostile work environment claims. When it comes to risks, records, and rules, e-collaboration tools are no different from email and social media. Failure to safeguard PII, NPI, consumer privacy, and business records could trigger regulatory audits, lawsuits, disgruntled accountholders, and decreased revenues.

You must act now to manage videoconferencing and meeting platforms with strategic e-policies and procedures. Attend this webinar to learn how to create and implement best practices-based policies and procedures to manage content, use, and records on Microsoft Teams, Zoom, Slack, and other e-collaboration tools. As a bonus, you’ll receive a three-part whitepaper designed to help your financial institution implement an e-collaboration policy program designed to minimize risks, manage use, and maximize compliance at the financial institution, employees’ homes, and elsewhere.

Who Should Attend?
This informative session is a must for legal, compliance, human resources, records management, information governance, IT, training, privacy, and security professionals. Anyone who communicates via videoconferencing and messaging tools will benefit, as will anyone responsible for writing, implementing, and enforcing e-policies.

Take-Away Toolkit

  • Fact Sheet: eCollaboration Rules: Creating Effective ePolicies for Zoom, Teams, Slack, and other videoconferencing and meeting tools
  • Three-part whitepaper: E-Collaboration Tools & Rules: Policies & Best Practices for the Compliant Management of Microsoft Teams, Zoom, Slack & Other Videoconferencing & Meeting Tools
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Nancy Flynn – ePolicy Institute™

A recognized expert on workplace policy, communication, and compliance, Nancy Flynn is the founder and executive director of The ePolicy Institute, Business Writing Institute, and Marijuana Policy Institute. She provides training, writing, and consulting services to clients seeking to minimize compliance risks and maximize communication skills.

Flynn is the author of 13 books, including Writing Effective E-Mail, The ePolicy Toolkit, and The Social Media Handbook. An in-demand trainer, she conducts seminars, webinars, and one-on-one coaching for financial institutions, financial services firms, and other clients worldwide. She also serves as an expert witness in litigation related to electronic and workplace policies and procedures.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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Transitioning Away from LIBOR: Preparation & Practicalities

Why is LIBOR being phased out? What should replace it? Do you need a transition plan? Which loans are affected? Join this timely session to learn the answers to these questions and more!

After This Webinar You’ll Be Able To:

  • Understand why the LIBOR index is being phased out
  • Properly identify a replacement index for your institution’s LIBOR-based credit products
  • Establish a transition plan for your LIBOR-based credit card products
  • Appropriately update your home equity line of credit application disclosures
  • Prepare the subsequent disclosures required in connection with adjustable-rate mortgage loans

Webinar Details
The London Interbank Offered Rate (LIBOR) index is tied to several credit products, including credit cards, home equity lines of credit, and adjustable-rate mortgage loans. Due to irregularities in the behavior of the index over the past several years, the one-month, three-month, six-month, and one-year LIBOR indices will cease publication in June 2023.

Last year, the CFPB issued a final rule to help financial institutions facilitate the transition away from the LIBOR index. This webinar will explain components of that rulemaking, including factors to consider when identifying a replacement index and transition requirements for credit cards, HELOCs, and adjustable-rate mortgage loans.

Who Should Attend?
This informative session is designed for lending department leadership, loan officers, loan support staff, compliance professionals, and audit personnel.

Take-Away Toolkit

  • The Transition Away from the LIBOR Index — a white paper that provides a high-level summary of steps financial institutions must take now to prepare for the transition
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Michael Christians, JD – Michael Christians Consulting, LLC
As principal of Michael Christians Consulting, LLC, Christians assists financial institutions and organizations across the country with ensuring their compliance programs conform to federal laws and regulations. He provides counsel relative to current rules, assists with the strategic implementation of upcoming regulatory changes, and offers customized education and training services.

Christians has more than two decades of experience in the financial services industry with a primary focus on consumer compliance. He obtained his Juris Doctorate from Drake University Law School. He is a member of the Iowa State Bar where he is licensed to practice law.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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Mission TRID: Overcoming Examiner-Cited Mistakes

Don’t let a TRID mistake cost you a citation — or worse. This is your chance to get the goods on TRID, including loan estimates and closing disclosures. Improve your accuracy (and customer service) with this detail-driven webinar.

After This Webinar You’ll Be Able To:

  • Define which loans are covered by TRID rules
  • Describe the requirements for each section of the Loan Estimate (LE) and closing disclosure (CD)
  • Distinguish between a loan’s “purpose” under TRID versus HMDA versus URLA
  • Explain when a revised LE is necessary
  • Understand requirements for both single- and separate-close construction loans and permanent-phase closings
  • Review the accuracy of projected payments and other calculations
  • Test charges subject to tolerance standards
  • Recognize when a corrected CD is required

Webinar Details
TRID continues to top the list of examiners’ most-cited violations. The issue may be as small as a missed checkbox or as large as a fee increase that results in a tolerance cure to the borrower. Compliance efforts over the last several years have been devoted to implementing TRID and ensuring disclosures are provided to borrowers in a timely, accurate manner. But TRID rules continue to grow and evolve — and examiners are diving deeper into disclosures and processes to ensure you are providing accurate documents to applicants and borrowers. This session will review sample disclosures for fixed-rate, adjustable-rate, and construction loans. As the documents are reviewed, the speaker will address regulatory requirements, dive into the guidance, and review common errors when completing the LE and CD.

Who Should Attend?
This informative session is directed to loan officers, mortgage officers, loan processors, loan operations staff, compliance officers, and internal audit staff.

Take-Away Toolkit

  • TRID tolerance chart
  • Formulas to test TRID calculations
  • Sample completed forms
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Dawn Kincaid – Brode Consulting Services Inc.
Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Kincaid served as the Senior Vice President of Operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Kincaid has served in the roles of Compliance, BSA/AML, CRA, Privacy, and Security Officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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Compliance with E-SIGN, E-Statements & E-Disclosures

Many financial institutions have unwittingly established unlawful online banking programs in violation of E-SIGN. If caught operating a noncompliant program, every e-statement you’ve ever sent could be deemed legally invalid. Regulatory fines and legal costs could far exceed the potential savings e-statements provide. Join us to learn more about E-SIGN, e-statement, and e-disclosure compliance, and avoid “e-jeopardy.”

After This Webinar You’ll Be Able To:

  • Understand and adhere to federal E-SIGN and state UETA requirements
  • Adhere to — and disclose — E-SIGN’s mandatory six-step consent process
  • Comply with E-SIGN consumer consent provisions and processes
  • Create lawful, clear e-disclosures that can be understood and acted upon by any consumer
  • Prove accountholders have demonstrated the technological competence to receive e-statements
  • Preserve, protect, and produce e-records of accountholders’ affirmative consent
  • Respond to the E-SIGN Modernization Act
  • Avoid potentially costly consequences of noncompliance
  • Train employees to answer consumer questions about E-SIGN, e-statements, e-disclosures
  • Implement best practices, expert advice, and compliance tips immediately

Webinar Details
Where does your financial institution stand when it comes to E-SIGN, e-statement, and e-disclosure compliance? Are you confident your e-statement program adheres to federal and state laws and industry and government regulations? Do you obey E-SIGN and UETA rules? Is your enrollment process lawful, or are you signing up accountholders in a noncompliant (illegal) fashion? Do you allow accountholders to sign up for e-statements in your lobby? Do your e-disclosures contain the required information, including mandatory technology guidelines? Could you provide evidence of affirmative consent if your e-statement program triggered a lawsuit or regulatory audit?

With this insightful program, you will learn how to recognize and avoid common legal and compliance mistakes in e-statement programs. It will answer the most common and pressing questions about E-SIGN, UETA, e-statements, e-disclosures, affirmative electronic consent, and e-records retention among other important issues. You’ll learn strategies and gain tools to help ensure your E-SIGN, e-statement, e-disclosure program is well managed and complies with legal, regulatory, and organizational guidelines. Don’t miss it!

Who Should Attend?
This informative session is a must to ensure legally compliant online banking. Legal professionals, compliance officers, risk managers, records managers, online banking personnel, operations managers, business development managers, and others charged with managing electronic banking, E-SIGN, e-statements, e-disclosures, and electronic records will benefit from this program.

Take-Away Toolkit

  • Tip Sheet: Managing E-SIGN, E-Statements & E-Disclosures: Dos & Don’ts to Help Ensure Compliance
  • Sample Policy: Record Retention Policy for the Financial Industry
  • Whitepaper: Record Retention Rules for the Financial Industry
  • Guidelines: Record Retention Guidelines for the Financial Industry
  • Sample Policy: Confidential & Sensitive Information Policy for the Financial Industry
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Nancy Flynn – ePolicy Institute™
A recognized expert on workplace policy, communication, and compliance, Nancy Flynn is the founder and executive director of The ePolicy Institute, Business Writing Institute, and Marijuana Policy Institute. She provides training, writing, and consulting services to clients seeking to minimize compliance risks and maximize communication skills.

Flynn is the author of 13 books, including Writing Effective E-Mail, The ePolicy Toolkit, and The Social Media Handbook. An in-demand trainer, she conducts seminars, webinars, and one-on-one coaching for financial institutions, financial services firms, and other clients worldwide. She also serves as an expert witness in litigation related to electronic and workplace policies and procedures.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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E-SIGN Act: Electronic Loan Document Delivery

The federal E-Sign Act encourages use of electronic signatures, contracts, and document retention — if you follow the rules. Are your documents and delivery procedures “legally correct”? This webinar will teach you about electronic documents, delivery, disclosures, record retention, and more.

After This Webinar You’ll Be Able To:

  • Explain the Electronic Signatures in Global and National Commerce Act (federal E-Sign Act)
  • Determine when it is permissible to deliver disclosures, documents, and statements electronically
  • Understand the restrictions imposed on the use of electronic signature pads
  • Decide when the original document can be destroyed after it has been saved electronically
  • Determine when your institution can require the use of electronic documents

Webinar Details
Although the electronic age can make loan transactions more convenient, it can also cause complications. Before your institution can benefit from the federal E-Sign Act and use electronic signatures and electronic documents, you must deliver the proper disclosures to your borrowers and obtain their consent. You must ensure that your electronic documents and delivery system are “legally correct.” In addition, the regulatory agencies expect financial institutions to understand how their electronic loan document system operates and how it satisfies the legal requirements for using electronic signatures, electronic contracts, and electronic document retention.

Who Should Attend?
This informative session is designed for all staff involved on the loan side, such as loan operations personnel, loan officers, technology staff, attorneys, compliance officers, and managers.

Take-Away Toolkit

  • Sample language to obtain borrowers’ consent to use and receive electronic signatures, electronic disclosures, and electronic documents
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Elizabeth Fast JD, CPA – Spencer Fane LLP

Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Fast is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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Characteristics of Strong Risk Assessments: Tools to Monitor & Report Results

Strategic-focused financial institutions endeavor to manage the perfect amount of risk-no more, no less. Learn more about “optimal risk-taking” with this detail-driven webinar.

Webinar Highlights

  • Overall view of enterprise risk management (ERM) and its three phases
  • Key steps to strengthen existing risk assessments
  • Characteristics and goals of risk assessments based on industry best practices
  • How to identify and assess your institution’s risks enterprise-wide
  • What is a risk assessment system (RAS) and its relationship to CAMELS rating?
  • The top eight risks and other important ones
  • How to conduct an ERM Risk Assessment using a matrix – the core of risk assessments
  • The various types of risk assessments based on the area of risk and what they consist of
  • Examples of ongoing monitoring and reporting tools and how to use them

Webinar Details
Financial institutions provide great value to the American economy. But that value comes with risks. Strategic-minded institutions do not strive to eliminate risk or even to minimize it — they strive to manage risk enterprise-wide so that just enough of the right kind of risk is incurred to effectively pursue their strategic goals. This is referred to as “optimal risk-taking.” This webinar will explore the characteristics of strong risk assessments so participants can address key areas in their own institutions. The presenter will share her experience in developing an enterprise-wide process and explain how to conduct risk assessments in a pragmatic, easy-to-understand way. Practical tools and examples will be provided that can be implemented immediately. Learn how to strengthen your existing risk assessments and create new ones for other areas as needed.

Who Should Attend?
This informative session is designed for risk managers/leaders, chief risk officers, compliance officers, internal auditors, chief operating officers, chief credit officers, and the entire risk management team.

Take-Away Toolkit

  • Enterprise risk management risk assessment matrix
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Marcia Malzahn – Malzahn Strategic

Marcia “Marci” Malzahn is the founder and keynote speaker at Crowning Achievements International — inspiring and educating emerging leaders in the financial industry. She is also president and founder of Malzahn Strategic, which provides management consulting to community financial institutions. Malzahn has 30 years of banking experience, with 10 years as the EVP/CFO/COO of a community bank she co-founded.

Malzahn speaks frequently at industry conferences, association events, and leadership and women’s conferences. She has published five books and received several professional awards. As a Certified Virtual Presenter, Malzahn provides online and onsite training for financial institutions. Malzahn is a certified life coach and a certified community bank director. She holds a bachelor’s in business management from Bethel University and is a graduate and faculty of the Graduate School of Banking in Madison, Wisconsin.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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Managing a Borrower’s Business Through a Loan Agreement

Love them or hate them… loan agreements can protect your financial institution, especially with business loans. Learn the details and objectives of these important agreements.

After This Webinar You’ll Be Able To:

  • Define the loan agreement
  • Know when a loan agreement is required to monitor a borrower’s activities
  • Understand the rights afforded by the loan agreement
  • Identify the key covenants to insert to monitor a borrower’s financial condition
  • Discern the relationship of the loan agreement to other loan documents

Webinar Details
All loans have loan agreements, although some are more tangible than others. Many financial institutions posit that loan agreements are simply too complicated and often attempt to avoid using them. However, loan agreements can benefit both the lender and the borrower. While the borrower must have sufficient latitude to operate the company, they must also agree to certain constraints to limit the institution’s credit exposure. Provisions in the loan agreement must be drafted to guarantee adequate cash is conserved by the borrower to ensure continued financial viability and to repay the loan.

This webinar will address formal loan agreements that are used in large or workout loans. It will define what this very formal and specific type of loan agreement is and what purposes it serves. A loan agreement is a legally binding document with the following objectives:

  • Set forth the agreement between the financial institution and the borrower by clearly and concisely defining the duties and responsibilities of both parties
  • Establish restrictions and qualifications on the borrower’s activities and financial condition, which are set out by affirmative and negative covenants
  • Prepare an alternative plan of action that both parties agree to abide by should various contingencies make the original plan inoperable
  • Serve as a communication tool and monitoring device by requiring the borrower to submit certain documents at specified times and notify the lender about certain plans (e.g., periodic financial statements and financial projections)

Who Should Attend?
This beneficial webinar is designed for senior credit officers, senior loan officers, credit administration officers, loan review personnel, compliance auditors, commercial loan officers, consumer loan officers, branch managers, and credit analysts.

Take-Away Toolkit

  • Loan covenant matrix that will recommend certain financial covenants to control various financial factors of the borrower
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Jeffery W. Johnson, MBA – Bankers Insight Group

Jeffery Johnson has been in financial services more than 40 years. He has been VP and senior lender for a large regional bank and SVP and commercial banking division manager for a community financial institution. Most of his career has been spent in credit administration, lending, business development, loan review, management, and training and development. Over the last 17 years, Johnson has provided training for several banking associations and individual financial institutions nationwide.

Johnson holds a bachelors in accounting from Morehouse College in Atlanta, an MBA in finance from John Carroll University in Cleveland, a Diploma of Graduation from the Prochnow School of Banking at the University of Wisconsin-Madison, and a Graduate Certificate in Bank Management from the First American Management Institute at the University of Pennsylvania’s Wharton School of Business.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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CDD: Creating an Effective Program from the Frontline to the Backroom

CDD is a crucial aspect of BSA — but there’s much more to the fifth pillar than that! This informative program will cover all the aspects, challenges, and requirements. Join us to get the keys to the BSA kingdom for customer due diligence, beneficial ownership, risk profiles, and monitoring.

After This Webinar You’ll Be Able To:

  • Navigate the gray areas of identifying beneficial owners
  • Get the information you need without sacrificing the accountholder experience
  • Initiate event-triggered account reviews to ensure beneficial ownership and risk profile information is current and conforms to regulatory standards
  • Audit your CDD program to prepare for the next exam
  • Review the new SSN verification (eCBSV) service to determine if your institution should enroll
  • Understand the impact of the AML Act of 2020 on the future of CDD requirements

Webinar Details
When you think of CDD, you probably go right to the beneficial ownership requirements. But BSA’s fifth pillar is comprised of four core elements:

  • Customer identification and verification
  • Beneficial ownership identification and verification
  • Development of a customer risk profile
  • Ongoing monitoring

These regulatory essentials significantly impact the account opening process, adding additional steps and affecting the due diligence required. This session will provide effective ways to gather and verify beneficial owner information and present best practices for obtaining information to establish the account’s purpose and anticipated activity. Acquiring this data is just part of the process. What is done with the information once you have it? How do you know when something is outside the “norm”? What triggers require an update to the information on file? Join this jam-packed session to learn solutions to the hurdles encountered in meeting the CDD rule requirements.

Who Should Attend?
This informative session will benefit new accounts staff, branch managers, loan officers, loan processors, BSA/AML officers, and compliance officers.

Take-Away Toolkit

  • Beneficial ownership calculator
  • Sample CDD policy language
  • Sample accountholder risk profile
  • Sample business accountholder questionnaire
  • Sample high-risk accountholder review form
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Dawn Kincaid – Brode Consulting Services Inc

Dawn Kincaid began her banking career while attending The Ohio State University. She has over 20 years’ experience in client service, operations, information technology, administrative and board relations, marketing, and compliance. Most recently Kincaid served as the senior vice president of operations for a central-Ohio-based community bank, where she created and refined policies and procedures, conducted self-audits and risk assessments, and organized implementation of new products and services. Kincaid has served in the roles of compliance, BSA/AML, CRA, privacy, and security officer. She has led training initiatives, prepared due diligence information, completed a variety of regulatory applications, coordinated internal and external audits and exams, and presented for numerous state associations.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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Securing Collateral Part 1: Forms UCC-1 & 3: Filing, Perfection, Amending & Terminating

Perfecting your security interest in collateral must be done perfectly! Learn how to avoid losses and properly complete (or correct) the UCC-1 and UCC-3 forms. All lending staff will benefit from this detail-oriented webinar.

Don’t miss out on part 2!

After This Webinar You’ll Be Able To:

  • Properly complete every section of the UCC-1 Financing Statement and the UCC-3 Financing Statement Amendment
  • Distinguish between the need for the UCC-1 Addendum and the need for the UCC-3 Addendum
  • Determine when a termination versus an amendment or assignment of an existing UCC filing is required
  • Correct an inaccurate or improperly filed UCC-1 Financing Statement
  • Know how to handle a situation where a debtor changes name or address

Webinar Details
Filing a UCC-1 Financing Statement is the most frequently used method to perfect your institution’s security interest in collateral. The completion of the UCC-1 form and the determination of the appropriate filing office can be tricky. An improperly completed or improperly filed UCC-1 will result in loss of your institution’s perfected security interest. This webinar will explain how to properly complete each section of the UCC-1 and where to file the UCC-1 in every type of consumer and commercial situation. Furthermore, filing a UCC-3 Financing Statement Amendment is required in various situations, such as when your institution needs to extend, amend, assign, or terminate an existing UCC filing. This webinar will explain the situations when your institution must file the UCC-3 and how to properly complete it.

Who Should Attend?
This informative session will benefit any personnel involved in the credit process, including loan operations personnel, loan officers, compliance personnel, auditors, attorneys, and managers.

Take-Away Toolkit

  • UCC-1 Financing Statement and Addendum, including instructions
  • UCC-3 Financing Statement Amendment and Addendum, including instructions
  • Employee training log
  • Interactive quiz
  • PDF of slides and speaker’s contact info for follow-up questions
  • Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

Presenter Bio

Elizabeth Fast JD, CPA –  Spencer Fane LLP

Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Fastis the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a master of business administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was general counsel, senior vice president, and corporate secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions.

Registration Options

  • $245 – Live Webinar Access
  • $245 – OnDemand Access + Digital Download
  • $350 – Both Live & On-Demand Access + Digital Download
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What Lenders and Cash Managers Need to Know About ACH

If ACH is a product that you are selling or want to sell, and ACH is new to you, you’ll want to join us for this webinar. We’ll help you understand what ACH is and how it works. You have the responsibility to choose wisely when offering ACH Origination services to your customers. Within the ACH Rules, the Originator and Originating Bank carry most of the risk. Know what your responsibilities are and how to manage your risk.

What You’ll Learn

  • What is ACH
  • Good customers for ACH
  • Most used ACH products
  • ACH Rules around the products
  • Managing your ACH Risk

Who Should Attend
This course is designed for lenders, senior staff, cash managers, operations staff with limited knowledge of ACH, and those that are interested in gaining knowledge on ACH origination and risk.

Presenter Bio
Mary Kate Cole, AAP, CAE, principal of MK Cole Consulting, has nearly two decades of bank operations experience. Cole is an experienced ACH Auditor as well as speaker on payments related topics. She was VP of the Upper Midwest ACH Association for over 15 years. At that time, she was responsible for member education, ACH Audits and problem solving as well as ACH Development projects. Cole has been active in several National ACH Association Rules Work Groups over her career. She is a popular speaker at both local and national conferences on electronic payments related topics.

Registration Options

Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $279

  • Available Upgrades:
    • 12 Months OnDemand Playback + $110
    • 12 Months OnDemand Playback + CD + $140
    • Additional Live Access + $75 per person
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