Presented by:
Jack Holzknecht and Mary Beth Guard
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10 MINUTE SAMPLE
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WHAT
On July 14, 2008 the Federal Reserve Board published final revisions to Regulation Z, which, for the most part, take effect on October 1, 2009. While all of the revisions are important, the new advertising rules need immediate attention. Other provisions of the new rules will be covered in future webinars.
Your 2009 advertising campaign is well underway, but may need to be revised in the near future. The changes impact loan product ads that are broadcast or distributed in any manner on or after October 1, 2009.
This two-hour webinar covers all of the new Regulation Z advertising rules and places the changes in context of the existing Regulation Z advertising requirements.
WHY
The new Regulation Z rules are the Federal Reserve Board's response to the sub-prime mortgage lending crisis. But make no mistake about it, the new rules impact all lenders not just those who engaged in sub-prime lending practices.
This program is designed to bring you up to date with the recent changes to Regulation Z's advertising rules. Participants receive a detailed manual that will be a valuable resource long after completion of the program.
CONTENT
Upon completion of the program participants will understand:
New rules for home equity plan rules including:
Rules for promotional rates and payments;
Tax implications disclosure;
Clear and conspicuous requirements including:
- Various media - Internet, television, radio, or other;
- Prominence and proximity rules
Requirements for a reasonably current index and margin.
New rules for closed-end credit including:
Rules for discounted variable rates;
Clear and conspicuous requirements including:
- Various media - Internet, television, radio, or other;
- Prominence and proximity rules
Requirements for a reasonably current index and margin
Tax implications disclosure;
Prohibition on misleading disclosures including:
- Misleading advertising of fixed rates and payments;
- Misleading comparisons;
- Misrepresentations about government endorsements;
- Misleading use of the current lender's name;
- Misleading claims of debt elimination;
- Misleading use of the term counselor; and
- Misleading foreign language ads.
WHO?
The program is designed for marketing officers, compliance officers and others involved in marketing/advertising loan products.
About the Speakers:
Jack Holzknecht is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-four years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company. In that capacity he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. Jack has been an instructor at compliance schools presented by the Georgia, Iowa, Kentucky, Pennsylvania, Nebraska, New York and Texas bankers associations. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association. He is also a "BOL Guru" at http://www.bankersonline.com/ and frequently answers compliance questions sent to "Bankers' Threads."
Mary Beth Guard currently serves as Executive Editor of BankersOnline.com and CEO of Glia Group, Inc., Mary Beth has had a long and distinguished career, graduating from law school in 1980. She has focused her work exclusively on the banking industry since 1984. Previously, Mary Beth served as EVP/General Counsel and COO for the Oklahoma Bankers Association, EVP of Specialized Services for Thomson Financial Publishing, and General Counsel for the Oklahoma State Banking Department. Mary Beth is on the advisory board for Bankers' Hotline and Compliance Action, as well as on the editorial board for ABA Bank Compliance magazine. She has presented training programs for virtually every major national financial industry association, as well as more than a dozen state bankers associations and a host of other organizations. In addition, Mary Beth has written more than a thousand banking-related articles and is a BOL Guru.This product was added to our catalog on Tuesday 19 May, 2009.
