Regulation Z: An Overview & Major Changes

Carl Pry


Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Senior 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.
Tuesday, December 9th, 2008
1:30 pm - 3:30 pm CT
The Institute of Certified BankersTM(ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. This webinar has been approved for 2.5 CRCM credits.

This webinar deals with what is probably the most-difficult regulation in all of lending compliance – the Fed’s Regulation Z, Truth in Lending. It is always at or near the top of the list of the most frequently-violated regulations. In addition, the Fed has proposed two major changes to the rule – one to credit cards and the other to mortgages. Do you know what’s coming? The changes will have a major impact on the disclosures you provide for many types of loans, if they're finalized as written. We'll go over the proposals to get you ready. This session is an in-depth discussion of Regulation Z, where we will examine the details, including focusing on often-troubling parts of the rule as well as what's coming.

Covered topics include:

  • What loans are covered by Reg. Z? A simple step-by-step guide
  • Business purpose vs. consumer purpose (and rental property loans) - what is covered and how to tell
  • Finance charge basics - what is a finance charge and what does that mean?
  • Prepaid finance charges and the amount financed
  • Open-end vs closed-end credit - different rules for different types of loans
  • Home equity lines of credit (HELOCs) - special rules
  • Timing of disclosures - the most frequently violated part of the rule
  • Refinancing vs. modification
  • Advertising rules - what to say and what to avoid, plus many new requirements
  • Right of rescission - who gets it and what it means
  • Section 32 loans - what they are and what to do if you have them
  • Problem loans - tolerances and fixes
  • A new class of mortgages: "Higher-priced mortgage loans" - the new rules
  • Proposed credit card rules and UDAP standards
  • And more

Plus frequent question and answer sessions throughout this presentation.

Who Should Attend?

This webinar is appropriate for all involved in consumer lending (whether or not real estate is involved). Compliance officers, auditors, underwriting personnel, CSRs with documentation duties, and bank attorneys are just some of the personnel with a vested stake in Reg. Z compliance.
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