Open-Ended Lines of Credit: Compliance Issues Webinar

Complying with the open-ended provisions of Regulation Z is a complicated issue. There are many intricate requirements to follow, from disclosures, servicing, and advertising. Plus, there are differing requirements depending on whether the plan is a home equity line of credit (HELOC), credit card plan, or personal or overdraft line.

This webinar will focus on the personal/overdraft lines and HELOC requirements. We will discuss how to ensure all the Reg. Z rules are followed, especially around disclosures. We’ll also touch on some of the other rules that impact HELOCs, such as appraisal rules and the coming HMDA requirements.

Covered Topics:

  • Determining basic coverage of lines of credit under Reg. Z and other consumer protection rules
  • Changes in terms – “significant changes”
  • Treatment of credit balances
  • Disclosing variable rate plans
  • HELOC special provisions, including right of rescission
  • Advertising open-ended credit plans, including marketing to college students
  • Servicing – periodic statements
  • Real estate laws and regs for HELOCs
  • Fair lending implications (there are some!)
  • And much more

Who Should Attend?

Anyone in the institution having responsibilities in offering, underwriting or servicing consumer-purpose open-ended credit plans, including loan officers, processors, clerks, closing agents, and so forth. Also compliance officers and counsel will benefit from the information provided in this webinar.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

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