Feb 16, 2022
The first subject will be finance charges and the FFIEC Loan APR Calculator. First, we will discuss the calculation of prepaid finance charge (PPFC), as any PPFC error creates APR errors and potential restitution. While we will discuss the finance charge text from Regulation Z, our primary focus will be on the more recent consumer and mortgage loan fees that Regulation Z does not directly address, to determine whether they may be PPFC. We will then apply that knowledge and discuss numerous examples of all the different possible loan types that the FFIEC software can handle, examining loans that are correct and loans where restitution may be required. Attendees are encouraged to have a device available that will allow access to the FFIEC program. By doing so, the attendees can input the keystrokes that will be shown to get that hands-on understanding of how the software actually works.
The second portion of the day will be reviewing closed end loan advertising. We will briefly examine the regulatory text. Then we will discuss the requirements of a closed end loan compliance advertising review. This will be followed by a review of the advertising text for various closed end products, and attendees will be given the hands on opportunity to review the advertisements prior to our discussion. An advertising checklist will be provided as part of this portion of the presentation. The focus will be on the role of the compliance officer in reviewing the advertisement, and to offer concrete suggestions to avoid just saying no to the efforts of the marketing department. While marketing personnel are welcome, the focus is not on marketing, but compliance.
Unlike our standard CBC presentation, this session will be focused on hands on activities rather than simply a review of the regulation.
8:30 a.m. Registration & Continental Breakfast
9:00 a.m. Program Begins
12:00 p.m. Lunch (included)
1:00 p.m. Program Resumes
4:00 p.m. Program Adjourns
REGULATORY UPDATE
• Subjects as released by the CFPB and other federal agencies.
MAIN SUBJECT
• Finance Charge and FFIEC APR Loan Calculator
? The finance charge regulation (Regulation Z)
? More recent fees- finance charge or not?
? How to use the FFIEC software
• Reviewing Closed End Loan Advertising
? The relevant Regulation Z advertising rules
? An advertising review checklist
? Hands on review of proposed advertisements
? How to work with marketing to make the advertising compliant
FUTURE PRESENTATIONS
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.
The subject matter for this presentation was determined from requests received from CBC members regarding subjects that they wanted addressed in 2022. Additional suggestions are always welcome, and can be sent to Bill Elliott (bille@younginc.com) at any time.
Bill Elliott, CRCM, Sr. Consultant, Director of Compliance.
Bill Elliott has over 40 years of banking experience. At Young & Associates, he leads compliance seminars, conducts compliance reviews for all areas of compliance, conducts in-house training, and writes compliance articles and training materials. During his career, Bill spent 15 years as a compliance officer and CRA officer in a large community bank and worked for a large regional bank. He has been a lender for consumer, commercial, and mortgage loans, and has managed a variety of bank departments, including loan review, consumer/commercial loan processing, mortgage loan processing, loan administration, credit administration, collections, and commercial loan workout. He holds the designation of Certified Regulatory Compliance Manager (CRCM).
WHO SHOULD ATTEND
Compliance officers, collection personnel, lending management, lenders and processors, and any others with responsibilities for lending or collections should attend. Additionally, audit personnel will find this session useful.
PANDEMIC RELATED NOTICE:
In an effort to maintain the safest environment for your educational session, the IBA monitors the status of COVID-related cases in Marion County and the state of Indiana, on a daily basis. If the Weekly 2-Metric Score for Marion County is Orange (2) or above, two weeks prior to your session, the IBA reserves the right to transition this event to a virtual format. You will be notified of any changes to this event, two weeks prior to its scheduled date.
$350 IBA Member
$180 Each Additional IBA Member
100% Surcharge is applied for Non-Members.
This seminar will be Tuesday, February 15, 2022 at the IBA Center for Professional Development, 8425 Woodfield Crossing Blvd. Suite 155E, Indianapolis, IN 46240. Directions, map & list of local hotels are available on our website at www.indiana.bank or you may call the IBA Office at 317-387-9380. This training will also be available virtually on Tuesday, February 15, 2022.
This seminar will also be offered on Wednesday, February 16, 2022 at Indiana Wesleyan University Fort Wayne Education and Conference Center located at 8211 W Jefferson Blvd, Fort Wayne, IN 46804.
If choosing to take this course online, we still look forward to “seeing” you! You will receive your manual 2-3 days in advance should you want to print this to have during training. At this time, you will also receive log in instructions. This is a completely LIVE virtual training where you will be able to ask questions directly to the speaker.
Elizabeth DeHaven, Education Coordinator
EDeHaven@indiana.bank
317-333-7169
You will receive an e-mail confirmation at
Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed. Refunds are not provided for cancellations the day before or absences on the day of the program. Substitutions are welcome at