State Specific Compliance Training

Posted By: Gr8hopper

State Specific Compliance Training - 03/14/22 06:12 PM

We are looking for state specific compliance training for Colorado, Illinois, Indiana, and Tennessee. We need training on Usury, Lien perfection, Titling accounts, and any state specific disclosures for both Deposits and loans.
Posted By: waldensouth

Re: State Specific Compliance Training - 03/14/22 06:46 PM

You will need to contact either the State Banker's Associations for those states or the Department of banking for those states - whatever it's called. As I recall, Illinois has training for the Illinois High Risk Home Act on the banking dept"s website.
Posted By: Dan Persfull

Re: State Specific Compliance Training - 03/15/22 07:40 PM

IN Department of Financial Institutions - https://www.in.gov/dfi/

IN Statutes Table of Contents - http://iga.in.gov/legislative/laws/2021/ic/titles/001

IN Bankers Assoc - https://indiana.bank/
Posted By: Gr8hopper

Re: State Specific Compliance Training - 03/15/22 08:06 PM

Thank you. Any thoughts on how you would train an out of state branch? Should we pick the topics we know may be different, ie... Mortgages, usury, late charges, etc??
Posted By: waldensouth

Re: State Specific Compliance Training - 03/16/22 12:44 PM

If you have a subscription to AllRegs- state laws you can get all disclosures and rules that pertain to Mortgages in every state.
Posted By: waldensouth

Re: State Specific Compliance Training - 03/16/22 12:58 PM

If you google the individual topics, I think you will be surprised at what you find. Most of these tools provide cites so you can see if they are still valid.

State Interest rate Laws

I've never trained on maximum interest rates or late fees. Those were built into the loan system by product and could not be overridden. A good Forms vendor will be able to provide you with state specific agreements and disclosures and probably a good overview of state specific rules.
Posted By: Gr8hopper

Re: State Specific Compliance Training - 03/16/22 01:42 PM

Thank you!