Earn CE Credits for
Reading this magazine
Looking for free Continuing Education credits to apply
to your CRCM certi;cation? Simply read the articles in
this issue of ABA Bank Compliance magazine, then
follow the instructions for the 10-question quiz on the
last page of the magazine. Answer 7 or more correctly
and you will earn one CE credit. Repeat this with each
new issue and you can earn nearly one-third of the
required CRCM credits for your three-year cycle!
CRCM
Certi;ed Regulatory
Compliance Professional
ABABankCompliance NOVEMBER|DECEMBER2009 1
CONTINUING EDUCATION QUIZ
ToModifyorNottoModify:AvoidingtheTraps ByCarlG.Pry,CRCM 1.AccordingtotheOCC/OTSQuarterlyMortgageMetrics Report,themostsuccessfulmortgagemodificationsfor continuingpaymentswerethosethat: a.frozetheadjustablerate b.forgavemissingpayments c.loweredthemonthlypayments d.deferredprincipalandinteresttotheendoftheloan 2.Attheendofthefirstquarterof2009,whatpercentage ofallmortgageswerenonperforming,accordingtothe OCC/OTSreport? a.10percent b.20percent c.30percent d.40percent
3.AccordingtotheOCC/OTSstudy,subprime delinquenciesrose“only” 1.5percentfromtheprevious quarter,whileprimeloansroseby: a.10percent b.20percent c.30percent d.40percent
TrendsinEnforcementActions: Arecomplianceweaknessesstillgettingregulators’ attention? ByAdamShapiroandJeanineCatalano 4.Ofthe487formalenforcementactionsissuedinthe18 monthsendingJune30,2009,whichagencyaccounted for46percent? a.FederalDepositInsuranceCorporation b.FederalReserveBoard c.OfficeoftheComptrolleroftheCurrency d.Officeof ThriftSupervision 5.AccordingtotheWallStreetJournal,througha FreedomofInformationActrequest,approximatelyhow manymemorandumsofunderstandingwereissuedin 2008byregulators? a.300 b.400
c. 500
d. 600
6.Oftheformalenforcementactionsissuedbyregulators, whichlaworregulationwascitedthemost? a.BankSecrecyAct/OfficeofForeignAssetsControl(BSA/ OFAC) b.RegulationO c.RegulationZ/TruthInLendingAct(TILA) d.RealEstateSettlementProceduresAct(RESPA) ComplianceAudits:AMarriageMadeinHeaven—or SomewhereWorse? ByPatPatrickShutterly
7.Accordingtotheauthor,whichofthesethemesisNOT criticaltoasuccessfulmarriagebetweencompliance andaudit? a. communication b. partnership c. perspective d. persistence
8.Inwhichcaseis“independenttesting”mandatedby law?a.BankSecrecyAct b.HomeMortgageDisclosureAct c.TruthInLendingAct d.FloodInsurance
9.Accordingtothe“issueID”rule,whichisthe“better” option?a.complianceofficeridentifies b.managementself-identifies c.auditidentifies d.examinersidentify
ComplianceRiskintheDebtCollectionWorld: OneCompany’sRiskManagementApproach 10.EventhoughWilmingtonTrustCompanycollectsonlyits owndebts,itpatternsitsconsumercollectionpractices incomplianceafterthe: a.FairCreditReportingAct b.FairandAccurateCreditTransactionsAct c.TruthinLendingAct d.FairDebtCollectionsPracticesAct
TheCE quizzesinABA Bank Compliance magazines provide upto sixcontinuing education creditsper year to CertifiedRegulatory Compliance Managers (CRCMs). Each quiz consists of 10 questions taken directly from the articles ineach issue and have been pre-approved by the ICB for 1.0 credit per quiz. You must correctly answer seven out of the10 questions to receive the credit.To take the quiz, please goto www.icbmembers.org, login, andclick on “Continuing EducationQuizzes(ABA Magazine)”located on the left-hand side of the page. Once you have completed the quiz, you will receive immediate notificationof the results, which can be printed and saved for your records. Quiz credits are automatically uploaded to yourecord and will show under “My Continuing Education Credits” within 48 hours. If you have any questions, contactICB’s Continuing Education Manager at icb@aba.com.CRCMCertified Regulatory Compliance Manager
ICB-10_Quiz.CRCM.ComplBnk.indd1
12/1/0911:17AM
ABA Subsidiaries Combine to Feature
All of ABA’s Endorsed Solutions
the american Bankers association (aBa) has combined its two for-profit subsidiaries—the corporation for
american Banking and Business solutions—to
provide a comprehensive suite of endorsed
solutions for banks.these solutions are featured
on a new, streamlined website at aba.com/
endorsed.
“the new corporation for american Banking
allows our members to easily access the best
in-class solutions for today’s ever changing
banking environment,” said Frank keating, aBa
president and ceo. “these aBa endorsed
solutions have been through an extensive due
diligence process involving analysis by industry
experts and testing by bankers. to be selected,
the solutions must meet stringent quality and
customer service standards.”
Featuring nine categories, the aBa endorsed
solutions help banks make money, save
money, diversify income, and improve effi-
ciency. the nine categories are:
■ ■ Balance sheet management,
■ ■ compliance, ■ cybersecurity,
■ ■ insurance, ■ mortgage lending,
■ ■ operations, ■ payments,
■ ■ retail, and ■ risk management.
For more information about the aBa endorsed
solutions, go to www.aba.com/endorsed.
ABA Keeps Pace with
Changes
the american Bankers association (aBa) continues to update its compliance training courses. all courses, whether part
of aBa Frontline compliance training or its new
online courses for compliance professionals, are
reviewed annually by aBa’s center for regulatory
compliance and applicable external experts.
courses that are impacted by regulatory changes
are reviewed immediately for any necessary updates.
the revised—and new—courses are automatically made available to banks using aBa’s
Frontline compliance training. compliance
professionals taking individual courses in aBa’s
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