Welcome to the Compliance Cohort. We are a group of compliance professionals working to make compliance easier. Our goal is to take complex compliance concepts and put them in simple terms that apply to the real world. We are glad you have found us and look forward to collaborating in the future.
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On June 24, 2019, the joint agencies announced a 63-page final rule amending some requirements of Regulation CC relating to check holds and funds availability. This long-awaited rule was mandated by the Dodd-Frank Act, but is only a portion of the total changes we expect to Regulation CC. These changes do four main things:
Require a regular inflation increase for certain thresholds found in Regulation CC (such as the $200/$5,000 amounts used in holds).
Require customer notification
Expand Reg CC coverage to certain US Territories
Make a few (minor) changes to Regulation DD
Upon first glance, this rule may appear to have a very minor impact to Regulation CC - which is a fairly accurate observation. The challenge, however, is that these changes will have a significant impact on financial institutions as they only complicate a rule that is already difficult to understand and comply with. In other words, these amendments are going to cause some major challenges for training front line staff. Therefore, it is important for financial institutions to have a complete understanding of these new rules so that applicable staff can be appropriately trained and hold activity can be appropriately monitored.
This program would be beneficial for compliance officers, trainers, branch managers, operations managers, auditors, and those responsible for managing deposit holds. Note: This program is the exact version from Part II of our 2Q 2019 Quarterly Compliance Update, meaning those that purchased that product already have this material. This program is designed for those who specialize in holds/Reg CC and may not want the full Quarterly Compliance Update program.
Regular Price: $249
NOTE: For just a few dollars more, you can get this program as part of our 2Q 2019 Quarterly Compliance Update - which includes not only the Reg CC Amendments, but every other applicable regulatory change that took place during the 2nd quarter of 2019. Click here to view our 2Q 2019 Quarterly Compliance Update.
If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.
The class is presented in a single video and provides a detailed review of the 2019 amendments to Regulation CC:
Regulation CC Amendments (June 2019)
The new Regulation CC amendments including:
Background on these rules
Effective date
The new rules
New challenges
More to come
Note: This program is the exact version from Part II of our 2Q 2019 Quarterly Compliance Review, meaning those that purchased that product already have this material. This information is being released as a stand-alone product as those who specialize in just Reg CC/Check Holds may not want the full Quarterly Compliance Update program.
This Compliance Class can be completed in about 45 minutes and provides you with everything you need to know about the Regulation CC June 2019 amendments.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are now available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
