Participants will receive a complementary Toolkit, which includes a sample policy, sample audit workpapers, & a sample audit report.
Did you know that the Board has issued the Final Regulation CC Amendments Affecting Check Clearing?
The final rule modifies the current check collection and return requirements in order to encourage all depository institutions to receive and send returned checks electronically. In addition to applying Reg CC's existing check warranties to electronically-collected checks, new warranties and indeminities have been adopted to checks collected and returned electronically and to electronically-created items.
Through this session, we will explore the new-- and existing-- rules in detail, and discuss the elements of an effective funds availability program. An effective Compliance Management System is the cornerstone of any compliance management program, and is vital to prevent and detect violations of consumer compliance laws and to prevent harm to consumers. You will learn how to set up, monitor, and adjust your Reg CC compliance program to meet the needs of your institution and today's ever changing compliance environment.
This session will explore what steps need to be taken to implement an effective Regulation CC compliance program; will breakdown the new rule section-by-section and explain the effects these changes have on your check clearing procedures; and, will outline the procedures your institution must have in place for a sound and compliant effective funds availability program.
- What are the final changes of the Regulation?
- What impacts does the final rule have on our check clearing policies and procedures?
- What elements should my policy include?
- What does Regulation CC require my institution to do?
- What procedures should I have in place?
- Is training required? What should it include?
- What types of monitoring should be performed?
- How frequently should monitoring and testing be performed?
- What is the difference between monitoring and testing? Do we need both?
- What should independent testing include in its scope?
- What types of complaints should I be looking for?
Who Should Attend?
This informative session is designed for Compliance Officers and Staff, Risk Officers and Staff, Executive Management, Board of Directors, and Internal Audit Managers and Staff.