Holds, Check 21, & More - Auditing for Regulation CC

Presented by:
Patricia Cashman

The two most important things to most people are their family and their money. Without their money they cannot take care of their family. If your financial institution places a hold on a customer's account, not only are they running the usual compliance risks, they are stepping into highly charged emotional territory. But being too cautious about delaying availability can expose a FI to unnecessary losses from kites, forgeries, and counterfeit checks.

You, as the auditor, can assist your FI in implementing the safeguards provided by this law while avoiding potentially damaging errors.

Holds - Testing the accuracy of delayed availability of deposited items

Check 21 - Confirming compliance with requirements for handling substitute checks

Disclosures - Verifying the content & timely delivery of initial and subsequent disclosures

Returning FI Obligations - Proving correct handling of items "not paid"

Compliance Training - This is one of the few regulations that specifically require training. You need to know who should receive this training and how often.

Who should attend? This session is designed for:

Compliance auditors who want to either understand the complexities of this audit or simply refresh their skills.

New and experienced compliance officers who are looking for a resource to strengthen their Reg. CC program

VIEW A 10 MINUTE SAMPLE
(requires Windows Media Player and IE).

• Complete presentation (including slides and audio)
• Written Materials
• Follow-up Q & A

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

About the speaker: Patricia is a partner in Cashman Compliance Solutions, LLC. She is responsible for consumer compliance reviews, Bank Secrecy Act (BSA) and Anti-Money Laundering reviews, and compliance and BSA training.

Patricia began her banking career in 1969. She has been the senior operations officer for three Dallas-Ft. Worth area community banks, an assistant examiner for the Texas Department of Banking and managed the compliance/internal audit division of TIB - The Independent BankersBank, one of the largest bankers' banks in the country.

Additionally, Patricia has spoken as a webcast/teleconference presenter for the American Bankers Association (ABA), BankersOnline (BOL) and the Center for Financial Training (CFT), taught a variety of compliance subjects for the Texas Bankers Association (TBA) and ABA at their respective Compliance Schools. She also serves as a BOL GURU and been a speaker/trainer for numerous banks and compliance organizations.