March 11, 2014

Reg Compliance School covers Reg E, Truth in Savings

March 12, 2014 – Attendees at NAFCU's Regulatory Compliance School had another full day, with sessions focusing on Regulation E and the Truth in Savings Act, among other topics.

School began on Monday at the Gaylord National Hotel & Convention Center in National Harbor, Md., and goes until Friday. Tuesday's speakers included Mitchell Klein, of Citadel Federal Credit union, John Harwell, of Apple Federal Credit Union, Rusty Vellek of Transportation Federal Credit Union, and Devon Lyon of State Department Federal Credit Union.

Klein focused on Regulation E and what accounts and transactions are within its scope, as well as the related error resolution process. Harwell covered both Regulation CC and the Uniform Commercial Code on different types of checks. Vellek discussed the Truth in Savings Act and its restrictions on advertising. Lyon presented on both NCUA's lending regulations and the Fair Credit Reporting Act.

Today's speakers will focus on unfair, deceptive, or abusive acts or practices, as well as recent regulations from NCUA and CFPB and the Truth in Lending and Real Estate Settlement Procedures Act. In the afternoon, attendees will hear from a panel on the CFPB's qualified mortgages and ability-to-repay rules.