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Materials
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The number of checks is dwindling, according to the Federal Reserve, while the number of electronic transactions is on the rise. Whether that trend will spell big profits for your institution -- or big trouble -- will depend largely on how well-equipped you are to handle the compliance responsibilities that accompany debit cards, ATM cards, direct deposits and electronic debits.
The Electronic Fund Transfer Act has been with us since 1978. But there are still many misunderstandings about its implementing regulation, Regulation E. Potential hidden pitfalls range from when and what disclosures to provide to the consumer, to what is an electronic error and how you should investigate a claim of error. Make sure you are not giving the bank's money away or creating regulatory violations by neglecting your obligations to the consumer.
"That is the way we've always done it" may be getting your bank into trouble. The longer something is done wrong, the worse the corrective actions will be. You need to be sure everyone in your institution who has a role in electronic funds transfers is getting the correct information and handling the bank's business according to the regulation.
This webinar will get you back to the basics.
What You Will Learn:
- Tips and tricks to effectively compute liability for unauthorized withdrawals
- The definitions that guide the regulation
- What is a covered EFT
- Exceptions and special provisions
- What disclosures are required, timing for giving them, and tips for writing them
- What are the liability limits for unauthorized withdrawals
- Ways the compliance officer can audit the process
About the speaker:
Andy Zavoina
Mr. Andy Zavoina, CRCM, is a consultant with the Glia Group, best known for its involvement with BankersOnline.com.
Andy has been in finance and banking for 22 years. Over 20 years were with a holding company with two Central Texas community banks that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. After starting in loan workouts, Mr. Zavoina has been a consumer, commercial and real estate lender and managed those departments as well as being the banks first Webmaster. He was responsible for compliance- management, -auditing, and -training for both banks.
Andy is a past Chairman of the American Bankers Association's Compliance Executive Committee. He was the 2003 recipient of the American Bankers Association's Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He currently serves on the Editorial Advisory Board for the ABA's Compliance Magazine, Compliance Action magazine, is a member of the ABA's Compliance School Board and is a BankersOnline Guru. He also served on the Texas Bankers Association's Compliance Committee.
He is a graduate of the ABA National Commercial Lending School, National Compliance and National Graduate Compliance School and is a Certified Regulatory Compliance Manager with the Institute of Certified Bankers. He has written numerous articles and lectured on compliance, the use of the Internet and technology as a tool, as well as compliance in cyberspace to local, state and national associations. Internet policies and other compliance related programs are made available on his personal Web site.
About the seminar:
This seminar will be delivered utilizing state-of-the-art technology. From the comfort of your office or conference room, you will receive the audio portion of the seminar via telephone, with companion slides and Web pages, polls and Q&A being delivered simultaneously over the Web. One AUDIO line per location can be placed on speaker phone to allow multiple participants.
Handouts will be provided and we welcome questions during and after the seminar, as well as in advance. Questions received after the seminar will be posted on a special Web page for later viewing by seminar attendees.
Contact Information: Billing questions can be directed to Carin Eisenhauer, carin@bankersonline.com. All other questions may be directed to mpetry@bankersonline.com
TEST YOUR SYSTEM: Click below to test receiving the presentation using Windows Media Player.
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