Compliance Training - Deposits

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Deposit Regulations

It’s time for Compliance School again!  During our first session we will discuss laws and regulations related to deposit accounts. Deposit regulations don’t get nearly the attention that lending and BSA regulations do, but they are important all the same. This course will cover the following:

Truth in Savings Act: The TISA is primarily a disclosure law that helps consumers make comparisons of deposit accounts among depository institutions. The TISA imposes disclosure requirements during five different points in the life cycle of a deposit account. The TISA affects every credit union and ever credit union member.

Regulation D: Reserve Requirements of Depository Institutions: Reg D sets rules for monetary reserves that must be maintained directly or indirectly with the Federal Reserve System. Come learn the reasons why credit unions must limit the number of withdrawals from savings accounts and why you generally can’t waive early withdrawal penalties on certificates.

Regulation E: Electronic Funds Transfer: Regulation E contains the rules for how credit unions must disclose and document EFTs. The rules for debit card and ATM overdraft services are also a part of Reg E. We will also spend a good deal of time discussing the important error resolution requirements of Reg E. This consumer friendly regulation can create big risks for credit unions.

Regulation CC: Availability of Funds and Collections of Checks: Reg CC requires that funds from certain deposits be made available for withdrawal within set periods of time. This regulation is full of exceptions and exceptions to the exceptions.  We will spend time untangling the regulation and provide you with tools to help you comply.

Uniform Commercial Code: We will finish the day by discussing various sections of the Uniform Commercial Code that affect how credit unions must process checks and handle returns.


Thu, Feb 22, 2018 9:00 AM to 4:00 PM

(801) 972-3400