Bank Webinars - Total Training Solutions, Inc.

Recorded Tuesday, February 9th, 2010

Impacting not just credit cards...

The Credit CARD Act is a major piece of legislation that will have far-reaching effects on the credit card industry, of course, but even if you don't offer credit cards, there are provisions that will (or already do) impact your lending operations. Several of the Act's provisions cover other types of open-end credit accounts, including non-real estate lines and even HELOCs.

The Credit CARD Act rules are being implemented within Regulation Z in 3 stages; the first set of rules are already effective, requiring new change-in-terms requirements as well as at least 21 days between delivering periodic statements and a payment due date.

The second and third stages (that will take effect this coming February and August) require changes in many areas, from rate and fees assessments to new disclosure requirements. There are also new restrictions on marketing to college students. How will all these changes affect your institution? We'll address all the changes the Credit CARD Act contains in this webinar, and lay them out in an easy-to-understand format, so you'll know exactly what the changes are and when they're going to happen.

New change in terms provisions for rate increases in "significant changes" (already effective)
Length of billing period and late payment fees (already effective)
Restrictions on rate increases
Newly-prohibited practices, such as universal default and two-cycle billing
Required periodic reconsideration of rate increases
Promotional rate and fee increase timing requirements
Opt-in requirements for over-the-limit charges
Other fee limitations, such as method of payment and reasonable penalty fees
Application of payments to high-rate balances first
Consideration of cardholders' ability to repay
New disclosure requirements, including minimum payment and payment due dates
Restrictions on credit card offers to those under 21 and college students
New requirements to post cardholder agreements on the Internet
Other provisions affecting gift cards, FCRA, Reg. E, and others

This will be an interactive session with several opportunities for questions and answers, so come prepared to discuss your needs and issues.

Anyone involved in credit card (and other open-ended credit plan) operations, promotion, servicing, and compliance will benefit from this session, including compliance officers, marketers, senior management, IT personnel, bank counsel, operations, and privacy, among others.

Carl Pry, J.D., is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Vice President and Compliance Manager for a large financial institution in Ohio. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.

$255.00

Post-Webinar

Recording only

Unlimited playback & materials. If you were unable to attend the regularly scheduled event, but are interested in the topic, you can purchase the recorded version. You will receive a web address for online viewing and an audio CD and handouts for offline viewing.