Retail Banking Compliance Suite – USA

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Course Description

This is a series of short courses to train banking staff on what they need to know to comply with some of the most important banking laws

Significant penalties apply if a financial services business fails to comply with these fundamental consumer protection laws. This series of courses have been written by our expert financial services staff to equip banking staff to comply.

These short, single-module courses provide an overview of the relevant laws, and introduce staff to the relevant legal requirements. They include illustrative scenarios and short summative quizzes to allow staff to demonstrate mastery of the subject material.

The courses available are

For more details, click on the course names above.

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For more details, click on the course names above.

Who is this training for?

The course is a suitable introduction for all banking staff, particularly those who are customer-facing.

Scenarios

The training is enlivened by the use of scenarios throughout, that relate the material back to real-world situations that learners may face. The scenarios are supported by formative questions that provide guidance and feedback to learners.

[…]banks can’t afford not to comply. Banks that aren’t on top of the changes being made to the rules and don’t swiftly make business adjustments to comply with those changes, subject themselves to fines, reputational damage and potentially expensive litigation.  There are numerous examples of banks making headlines for the past transgressions and paying the prices as a result.  In 2013 alone, the agency collected $49 billion in penalties.

Forbes The Four Things Every Bank Should Be Doing Now To Protect Consumers August 182014‍

Course Outline

  • Introduction to Fair Credit Reporting Act (FCRA)
  • Fair Lending
  • Introduction to the Office of Foreign Assets Control (OFAC)
  • Introduction to Regulation Z and the Truth in Lending Act (TILA)
  • Introduction to Regulation CC and the Expedited Funds Availability Act
  • Introduction to Regulation E and the Electronic Funds Transfer Act
  • Introduction to Regulation D: Reserve Requirements
  • Introduction to Regulation DD and the Truth in Savings Act

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Introduction to Regulation D: Reserve Requirements

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Course Description

This training is for banking staff on the limitations that apply to withdrawals from various types of account

Bank staff need to understand the way Regulation D limits the number of withdrawals that customers can make from particular types of accounts using “convenient” methods.

This short, one-module course introduces bank staff to the requirements of Regulation D that ensure banks, credit unions and other financial institutions have enough funds available to be able to meet customers’ requests to withdraw money from their accounts. It describes the limitations on withdrawals from certain types of accounts, depending on the withdrawal method, and provides information on the types of accounts that are not subject to these withdrawal limitations. It includes real-life case studies.

The course also briefly introduces the Federal Reserve’s regulation of the amount of cash reserves that financial institutions must hold.

Who is this training for?

The course is a suitable introduction for all customer-facing banking staff.

Scenario

Jasmine likes to keep her money in a savings account where it earns interest. She works from home as a baby-sitter and has regular expenses for food, milk, diapers etc. She has these delivered to her home and likes to pay her suppliers on-line because it’s more convenient. She needs to make one or two payments each week.

Will there be a problem with the frequency of transactions?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

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Course Outline

  • Give an overview of the purpose and operation of Regulation D
  • Understand which transactions are limited under Regulation D
  • Describe the penalties and charges under Regulation D

Corporate Governance for Unlisted Entities – Australia

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Course Description

In this age of increasing scrutiny, company directors and officers must be aware of their duties. They must understand how to best manage their work practices for accountability purposes.

Based on our generic Corporate Governance course, this training course looks at the specific duties that subsidiaries and unlisted companies have under the current laws.

Corporate Governance includes comprehensive analysis of the source of corporate governance requirements, the duties owed by directors and officers of organisations, and to whom those duties are owed.

The course also examines the consequences of breaches of these duties. We direct you through the legislative and general law requirements that are currently in place and provide useful tips and case studies on some common “pitfalls” that can easily be avoided.

Included is a range of high profile case studies that identify where the company’s corporate governance measures failed. The course was updated recently to include a detailed description of the Centro case and what lessons can be learned from it.

Who is this training for?

This course is tailored to cater for the needs of those in management roles in your organisation.

Course Outline

  • Module 1: Introduction
  • Module 2: Duties of directors and officers – part 1
  • Module 3: Duties of directors and officers – part 2
  • Module 4: Better corporate governance practices

Corporate Governance for Listed Entities – Australia

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Course Description

In this age of increasing scrutiny, company directors and officers must be aware of their duties. They must understand how to best manage their work practices for accountability purposes.

Based on our generic Corporate Governance course, this training course looks at the specific duties that subsidiaries and listed companies have under the current laws.

Corporate Governance includes comprehensive analysis of the source of corporate governance requirements, the duties owed by directors and officers of organisations, and to whom those duties are owed.

The course also examines the consequences of breaches of these duties. We direct you through the legislative and general law requirements that are currently in place and provide useful tips and case studies on some common “pitfalls” that can easily be avoided.

Included is a range of high profile case studies that identify where the company’s corporate governance measures failed. The course was updated recently to include a detailed description of the Centro case and what lessons can be learned from it.

Who is this training for?

This course is tailored to cater for the needs of those in management roles in your organisation.

Course Outline

  • Module 1: Introduction
  • Module 2: Introduction to duties of directors and officers
  • Module 3: Duties of directors and officers – part 1
  • Module 4: Duties of directors and officers – part 2

Contract Fundamentals – New Zealand

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Course Description

Entering into contracts is a fundamental part of doing business. Ensuring your legally binding agreements are accurate, clear and concise will determine whether your business transactions and relationships are successful. This course gives you the tools to better understand contractual agreements and processes.

Contracts form the basis of all business transactions, but in reality can be the cause of much confusion and misunderstanding. Contact Fundamentals provides you with the tools to better understand the issues associated with the pre-contractual process and to appreciate the complexity of interpretation in contractual documents. In addition, the training provides an insight into the meaning of terms in contracts and the mechanics of how a contract is implemented.

The rights and duties of different parties are examined in the light of legislative requirements and the requirements under the general law. This course arms you with the knowledge about how to make contracts work in the day-to-day operation of your organisation.

Who is this training for?

It is important for all employees of a business to understand the fundamentals of contract law.

Course Outline

  • Module 1: Introduction to contract law
  • Module 2: Pre-contractual issues
  • Module 3: Contract terms
  • Module 4: Risk management
  • Module 5: Contract mechanics
  • Module 6: Advertising

Contract Fundamentals – Australia

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Course Description

“Critical issues can often be overcome if the parties have a comprehensive knowledge of what it is that makes and breaks a contract.”

MAKING CONTRACTS WORK

Contracts form the basis of all business transactions but, in reality, it is the source of much contention when something doesn’t go exactly to plan.

SALT Contract Fundamentals provides you with the tools to better understand the issues associated with the pre-contractual process. In addition this course provides an insight into the meaning of terms in contracts and the mechanics of how a contract is formed and implemented.

The rights and duties of different parties are examined in the light of legislative requirements and the requirements under the general law.

Who is this training for?

This course arms you with the knowledge to make contracts work in the day-to-day operation of your organisation. The training is designed for staff at any level that could be at risk.

Course Outline

  • Module 1: Introduction to contract law
  • Module 2: Pre-contractual issues
  • Module 3: Contract terms
  • Module 4: Risk Management
  • Module 5: Contract mechanics

Continuous Disclosure

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Course Description

Managing sensitive announcements

A company that issues securities that are listed on Australian financial markets has the obligation to disclose any information that is likely to affect the price of the securities or influence investment decisions. Salt Continuous Disclosure discusses the duties and obligations that both employers and employees have when dealing with sensitive market information.

Continuous disclosure is essential to the integrity and efficiency of Australian financial markets and is rigorously enforced by both the Australian Securities Exchange (ASX) and the Australian Securities and Investments Commission (ASIC).

Who is this training for?

As with all Salt courses, this training is designed to cater for a diverse audience and different levels of staff. Therefore we have developed a generic module that is aimed at employees and one that is suitable for senior management.

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Course Outline

  • Module 1: Continuous disclosure obligations (all employees)
  • Module 2: Continuous disclosure obligations (senior management)

Fair Trading – New Zealand

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Course Description

The Fair Trading Act affects every facet of your business and at all levels – from the sales and marketing teams to suppliers and manufacturers. The purpose of this course is to create awareness among your members of staff on how to identify and reduce the risk of breaching these laws. The Fair Trading Act is intended to regulate trade practices and the disclosure of business information in the market. It is based on the premise that goods and services must be traded on their true merits and that customers are entitled to be properly informed.

Our Fair Trading course identifies the common areas where organisations and individuals go wrong. The course is legally comprehensive and gives practical tips on how to avoid hefty penalties and personal liability that come with breaching these laws – all explained in plain English and easy terms.

Who should do this training?

Anyone who is involved in business transactions or direct communications with customers, suppliers and the general public needs some understanding of trade practices law. The
same rules apply to front-line staff and senior executives.

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Course Outline

This course is a component of the Trade Practices suite, which can also include Consumer Guarantees and Commercial Practices and Acquisitions

  • Module 1: Introduction to the Fair Trading Act
  • Module 2: Misleading and deceptive conduct
  • Module 3: Consumer information and product safety

Consumer Guarantees – New Zealand

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Course Description

The Salt Compliance Consumer Guarantees course identifies the common areas where organisations and individuals often go wrong. The course is legally comprehensive and gives practical tips on how to avoid the hefty penalties that come with breaching these laws – all explained in plain English and easy terms.

The Consumer Guarantees Act affects every facet of your business and at all levels – from the sales and marketing teams to suppliers and manufacturers. The purpose of this course is to create awareness among your members of staff on how to identify and reduce the risk of breaching these laws.

The Consumer Guarantees Act applies to suppliers of goods and services to consumers in trade, regardless of whether the suppliers are individuals or companies. The Act provides consumers with specific guarantees such as acceptable quality, fitness for purpose, title and price.

Who should do this training?

Anyone who is involved in business transactions or direct communications with customers, suppliers and the general public needs some understanding of trade practices law.

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Course Outline

This course is a component of the Trade Practices suite, which can also include Fair Trading and Commercial Practices and Acquisitions

  • Module 1: Provision of goods
  • Module 2: Provision of services

Fair Lending

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Course Description

This training covers what banking staff need to know about the laws and regulations prohibiting discrimination in the extension of credit to consumers

Discriminatory lending can lead to legal and reputational risks for a financial institution. This course will provide an overview of the five laws and regulations that cover discriminatory lending practices, and assist staff in complying with them.

Bank staff need understand that discrimination is not always obvious, and in fact illegal discrimination can take three different forms: Overt, Disparate treatment, and Disparate impact. This short, single-module course covers those forms of discrimination and gives examples.

The course also introduces learners to the five relevant laws and regulations and discusses their functions and the ways in which they work to protect Americans from wrongful discrimination in financial matters

Properly trained staff can help protect a bank from the risk of being prosecuted for discriminatory practices

Who is this training for?

The course is a suitable introduction for all banking staff, particularly those who deal with consumers applying for credit.

Scenario

Madison is applying for a loan with Smart Credit Bank for a new condo she wants to purchase. She has a stable job as a librarian at her local high school, though is also receiving Social Security Disability Insurance after being injured in a car accident last year. Despite proving that she has a steady stream of income and appears to meet Smart Credit Bank’s stated eligibility requirements, she receives an email a week later stating that her application has been rejected.

Has Madison been unlawfully discriminated against in this situation?

Retail Banking Compliance Training

This course is part of the Retail Banking Compliance Suite

The courses available are

For more details, click on the course names above.

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Course Outline

  • Become aware of the three types of illegal discrimination and how they differ
  • Identify the five laws and regulations that make up Fair Lending practices and prohibit discrimination for consumers
  • Understand the resulting actions of illegal discrimination
  • Learn ways to avoid discrimination throughout the credit process