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Course description

In June 2021 the CFPB released a Compliance Aid on Reg E. It wasn’t “new” information but was needed and helpful information because many bankers just weren’t getting compliance right. Many of us in the industry said it was good work, but what about real guidance we needed like those Person-2-Person payments that didn’t exist when Reg E was authored. This guidance is intended to assist us in the P2P area. 

There are four topic categories, Transaction, Financial Institutions, Error Resolution and Unauthorized EFTs. This guidance will help you understand more about a variety of P2P transaction types and when they will fall under Reg E. There are five FAQs on this topic. There are four on how these P2P payments are to be managed when there is a bank, and a non-bank involved. The basic rules on error resolution are covered in four more FAQs with information on private network rules and an oldie but a goodie, can you require a police report or other documentation for your claim. Last but not least there are 11 FAQs pertaining to Unauthorized EFTs. This is consumer protection after all, and this is a sticky are that impacts the bank’s bottom line directly.

I hope you’ll join me as we explore these new FAQs and how they might impact your bank’s procedures. 

This program is not designed to teach the basics of Reg E or claims investigations. It is intended for those who want to verify their understanding of the rules, those who want to comply and not be penalized, and who are familiar with Reg E.

 WHO SHOULD ATTEND:

Compliance, audit, EFT dept., Security Officer, Customer Service

Instructor(s)

Andy Zavoina

Mr. Andy Zavoina, CRCM, is an Executive Vice President with the Glia Group, Inc., best known for its involvement with BankersOnline.com. He joined Glia and BOL in 2003. Mr. Zavoina has been in finance and banking for 39 years. Over 20 years were with a two-bank holding company that had $534 million in assets, 89 branches spanning Texas and nearly 500 ATMs. He has done loan workouts, has been a consumer, commercial and real estate lender and managed those departments, as well as being his banks first Webmaster. He was responsible for compliance -management, -auditing, and -training for both banks. Mr. Zavoina is a recipient of the American Bankers Association’s Distinguished Service Award for his involvement and accomplishments in the field of regulatory compliance management. He is a past Chairman of the ABA’s Compliance Executive Committee, the Editorial Advisory Board for the ABA Compliance Magazine and served as a member of the ABA’s Compliance School Board. He 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 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 across the U.S. and teaches basic compliance and compliance management. You can reach Andy on the Internet by using his e-mail address, andyz@bankersonline.com, or visiting http://www.bankersonline.com.

Course curriculum

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