WEBINAR

Prepaid Accounts – The New Rule Webinar

CFT Credits: 0.25

Failure to comply with the new prepaid account rules will subject banks to potential violations of Regulation E and UDAP which may result in civil money penalties and enforcement actions from banking regulators. Participants receive a detailed manual that serves as a handbook long after the program is completed.

Webinar Description and Audience

WHAT?

Prepaid Accounts are among the fastest growing consumer financial products in the U.S. and the CFPB responded to this product’s dramatic growth, and limited regulatory requirements, by issuing an almost 1,700 page final rule on October 5, 2016. The rule primarily amended Regulation E with a minor modification to Regulation Z for accounts with an overdraft feature. This two-hour webinar will address all requirements of the new rule which primarily becomes effective on October 1, 2017.

The new regulatory requirements necessitate both short-form and long-form pre-acquisition disclosures with specific formatting requirements for both written and electronic disclosures. Prepaid accounts will generally be covered by the current Regulation E error resolution and liability requirements which will require banks to treat a notice of unauthorized transaction must like they treat current error notices related to debit cards. The new rule also provides banks with an alternative to the requirement to provide written, periodic statements.

WHY?

Failure to comply with the new prepaid account rules will subject banks to potential violations of Regulation E and UDAP which may result in civil money penalties and enforcement actions from banking regulators. Participants receive a detailed manual that serves as a handbook long after the program is completed.

Covered Topics:

•Which bank products may be classified as a prepaid account based either on the marketing or labeling of the product
•Exemptions from the definition of prepaid account
•Content and timing requirements for the short form and long form pre-acquisition disclosure
•Changes to the current Regulation E disclosure provided to consumers
•CIP customer identification and verification requirements
•Error resolution, investigation and provisional credit timeframes and research requirements
•Internet, written and telephone account information required for varying time periods
•Liability thresholds that differ from current Regulation E customer liability

Who Should Attend?

This program is designed for compliance officers and deposit operations or branch/retail administration personnel with responsibilities for deposit products covered by Regulation E.

Webinar Viewing Options

LIVE WEBINAR:                                              

INCLUDES 7 DAYS OF UNLIMITED ONDEMAND PLAYBACK!  With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time.  And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:

With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it a very effective training tool. The OnDemand Video will be available to you (and anyone else in the company) for six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:

If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool.  With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

IN-HOUSE:                                                        

Webinars can be scheduled and offered exclusively for your company.  They can even be customized to best fit your needs.  To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.

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.

Register Here!

Choose the viewing option that best suits your needs. Live Webinar times are shown as Eastern Time. You can choose to pay by credit card or invoice when you register. CFT Credit will be awarded to the registrant, unless directed otherwise (additional attendees can also receive credit for an additional fee). CFT Webinars are powered by Total Training Solutions!

Webinar DateStart TimeEnd DateEnd TimeViewing Options - See Descriptions AbovePrice
06/07/17Archived Six Month On-Dermand Recording$295.00Register
06/07/17Archived CD-ROM Recording$345.00Register
AnyIn-HouseRequest