Do your employees know the financial basics when it comes to areas such as credit unions, teller training and customer service? Or how about more intricate financial compliance topics such as the Right to Financial Privacy Act, Regulation E, Regulation C, the USA PATRIOT ACT, and others?
That's why we created this topic so that financial institutions and their employees have a better sense of all the regulations and compliance involved in the banking industry. You can sample four of the courses above or sign up for a free trial of Thinkzoom, our LMS to see the entire series.
Preview our Banking Skills Training Courses
Regulation E: Overview
Technological advancements in the financial industry have provided much greater convenience and improved financial management and communication. The downside to these improvements is the increase in fraudulent activities, impacting both financial institutions and their customers. To safeguard against fraud, a set of rules was established by federal banking regulators known as Regulation E, or Reg E. These rules implement the Electronic Funds Transfer Act. In this course, we’ll discuss the heart of Reg E. We’ll go over the important information financial institutions must disclose to their consumers, guidelines regarding when access devices, such as debit cards, may be issued, the extent of a consumer or bank’s liability when there are errors, electronic transaction overdraft protections, guidelines for receipts and periodic statements, as well as information about prepaid account rules.
Truth in Lending Act and Regulation Z
The Truth in Lending Act is designed to protect consumers and credit transactions by requiring disclosures about its terms. It also gives consumers the right to cancel certain credit transactions. TILA is closely related to Regulation Z, and both of these will be discussed in this program.
Right to Financial Privacy Act
What does “right to financial privacy” really mean? Well, not so long ago, the U.S. government could request access to our bank records, without our knowledge, at any time. Our bank records include highly sensitive information like our account numbers, social security numbers, home addresses, and spending patterns. Congress, in time, established privacy acts that would protect consumer information. In this course, we’ll discuss the Right to Financial Privacy Act (RFPA). We’ll look at its history, who it protects, how it impacts financial institutions, and the violations and penalties associated with the act.
The Real Estate Settlement Procedures Act, or RESPA, is a federal act passed in 1974 which covers residential properties of 1-4 units. Before RESPA, real estate professionals and closing service providers were charging customers unnecessary fees to close on their homes. In this course, we’ll discuss what RESPA is and the disclosures it requires.
Additional Banking Skills Training Topics
We have a full library of banking and financial skills training topics such as:
- Bank Secrecy Basics
- Bank Secrecy for Management and Operations
- Cash-less Money Laundering
- Check Processing
- Consumer Bribery Act
- Credit Unions and Banks
- Cross Selling
- Fair Housing Act
- Handling Customer Complaints
- Insider Trading
- Loan Processing
- Regulation BB
- Regulation DD
- Types of Check Fraud
- The New I-9 Form
Check out our entire library of Banking Training Videos now with a full-featured, full-library, 15-day free trial of our Thinkzoom LMS.