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CFT
Webinars are purely educational. Instructors are not permitted to sell any
products or services during the presentation.
Program
Content:
WHAT?
Congress
enacted the Financial Institutions Regulatory and Interest Control Act in
1978. The insider lending provisions of the law were implemented as
Regulation O. Historical data show that insider abuse is at the heart of
many bank failures. Examiners take very seriously their mission to prevent
insider abuse. They frequently cite violations of Regulation O during
examinations, and often take enforcement action. Enforcement actions may
take the form of civil monetary penalties , a Memorandum of Understanding,
or a Cease and Desist Action.
Typical
violations include illegal overdrafts to insiders or extensions of credit
that exceed one of several lending limit provisions contained in the
regulation. These violation generally result from a lack of adequate procedures.
Simple steps to monitor overdrafts and total extensions of credit to
insiders are usually sufficient to prevent such violations. This program
provides suggestions for procedures.
In
other cases violations result from a lack of understanding of the fine
details of Regulation O. The concepts are fairly straightforward, but
contain enough details to cause confusion. Most banks can easily identify
their directors and executive officers, but confusion occurs when trying to
determine the status of the directors and executive officers of affiliated
institutions. Each of the three lending limits is fairly simple, but
determining how the three limits interact with one another can cause
confusion. This program provides detailed coverage of these, and other,
basic requirements of Regulation O.
Civil
monetary penalties can be assessed against the institution or against
individuals. Recently Federal regulators fined five former directors and
executives for violations of insider lending rules. The fines ranged from
$8,000 to $20,000 per individual.
WHY?
This
program provides the information needed by the lending, compliance and
audit staff to assure ongoing compliance with the regulation. Participants
will receive a detailed manual that serves as a handbook long after the
program is completed.
Covered
Topics:
- Who is considered an insider
- What transactions are considered “extensions of
credit”
- The prohibition against preferential treatment
- The requirements for prior approval
- The lending limits for each insider, all insiders
as a group, and special limits for executive officers
- The restrictions on overdrafts
- How Regulation O rules impact existing extensions
of credit to newly elected/appointed insiders
Who
Should Attend?:
The
program is designed for loan officers, compliance officers, loan support staff
and auditors. Please
forward email to appropriate person(s).
Instructor:
Jack
Holzknecht is the CEO of
Compliance Resource, LLC. He has been delivering the word on lending
compliance for 43 years. In 38 years as a trainer over 145,000 bankers (and
many examiners) have participated in Jack’s live seminars and webinars.
Jack’s career began in 1976 as a federal bank examiner. He later headed the
product and education divisions of a regional consulting company. There he
developed loan and deposit form systems and software. He also developed and
presented training programs to bankers in 43 states. Jack has been an
instructor at compliance schools presented by a number of state bankers
associations. As a contractor he developed and delivered compliance training
for the FDIC for ten years. He is a Certified Regulatory Compliance Manager
and a member of the National Speakers Association.
What
Is A Webinar?:
A
webinar combines the clarity of an audio teleconference with the
interactivity and visual presentation of the internet. All you need to
participate is a telephone and an internet connection. Even if you don't
have an internet connection, you can still participate in the audio
session. Listening to the program over the telephone and following the
written materials is an effective alternative!
Unable
To Attend?:
No
problem. You can purchase a recording of the webinar for future use. You
can choose from either an On-Demand Web Link (Good for 6 months from the
webinar date, unlimited use) or a CD-ROM (includes a paper copy of the
PowerPoint slides).
Viewing
Options (all options include applicable handouts):
All
options include applicable handouts. You can choose to pay by credit card
or be billed. Additional Live Webinar connections are $75 each.
Option 1: Live
Webinar and 7 Days OnDemand Video Playback - $265
Option 2:
OnDemand Video (six months access) - $295
Option 3: Live
and 6 Months of OnDemand Video - $365
Option 4: CD-ROM
Video (Includes OnDemand Video) - $345
Option 5: Entire
Package (all of the above) - $395
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