ABA Bank Compliance - September/October 2012

At Your Service

AMERICAN BANKERS ASSOCIATION

ABA Introduces New Flexible Training Options for Overburdened Compliance Staffs

WIth the recent FInancIal crIsIs, bank compliance professionals have been burdened like never before. Banks face unprecedented scrutiny from regulators and examiners at a time when resources are limited. add audits, examinations, and managing compliance risk, and it’s difficult to keep pace.

to ease the stress, the american Bankers association has designed state-of-the-industry online lending compliance courses specifically designed to meet the training needs of bank compliance teams.

“We kept hearing from our members that
more flexible training options would help their
compliance professionals keep pace,” said aBa
executive vice president Jim edrington. “so we
brought in expert faculty from our aBa compli-
ance schools—who have trained thousands of
compliance professionals—to teach online
courses that can be completed anytime, anywhere,
whether on a desktop, laptop, ipad, or tablet.”
aBa already provides free compliance train-
ing for front-line personnel, but the new
courses are specifically designed for compliance
professionals. the on-demand training not only
draws on aBa’s expertise, but also on the skill-
building content of the aBa compliance schools.
edrington says the curriculum is suitable for
everyone from compliance beginners to seasoned
professionals.

■ ✔regulations governing mortgage servicing, modification and foreclosure, and modification requirements for existing balances on credit cards, and installment loans.

■ nUnfair, Deceptive, or Abusive Acts or Prac-
tices (UDAAP) for Compliance Profession-
als covers:

■ ✔regulatory policy statements and advisories and legal framework for udaap;

■ ✔specific types of risks;

■ ✔examples of practices and activities found to be unfair, deceptive, or abusive; and

■ ✔potential compliance program implications and tools relating to udaap.

■ n Home Mortgage Disclosure Act (HMDA) for
Compliance Professionals covers:

■ ✔ whether or not an institution is covered by hmda;

■ ✔which transactions are subject to hmda;

■ ✔how to properly complete a loan application register (lar); and

■ ✔the importance of management involvement.

■ n Fair Credit Reporting Act (FCRA) for Compli-
ance Professionals covers:

■ ✔ what a consumer report is and its limitations;

■ ✔the bank’s responsibilities as a user of these reports; and

✔ other ways the Fcra impacts a bank’s
operations.
aBa’s edrington says bank profession-
als can enroll easily, track their progress,
and keep training records for management
and examiners through aBa’s learning
management system (lms).
“We wanted to make these compliance
courses as simple as possible to access
and understand, knowing the pressure that
compliance professionals are already under, ”
edrington said. “We feel that the flexibility of
the courses is a major advantage since banks
can choose just the training they need.”
more information on courses and how
to enroll is available by visiting
www.aba.com/OCCP.