On Demand Course

Credit Card Compliance

This live webinar is designed specifically to help the compliance professional who has no idea where to even begin! 

Rebekah Leonard 2 HR
Included with Team Membership

About This Course

More and more community banks are looking to add in-house credit card programs to their banking product line-up.  The reasons are many, including improved customer service and experience, local support, multi-product customer engagement, consumer “wallet share”, increased net interest margin, and interchange income. Indeed, community banks are getting fed up with referring credit card customers to larger issuers who agree to print the local bank’s logo on their plastic but provide lousy service that falls short of the bank’s high standards.  The community bank receives some income, but the bulk of revenue goes to the large issuer.  “Why not offer our own custom in-house card?” is a question being asked in Board Rooms and Strategic Planning meetings across the country.

Direct credit card programs are enticing to bank management but are extremely intimidating to bank compliance officers.   For good reason!  There are many regulations involved, but minimal (if any) experience with the specific details of those regs.  Compounding the unease, there are little-to-no compliance training presentations to provide understanding and guidance. 

*This program does NOT qualify, nor meet the National Standard for NASBA accreditation. 

What You Will Learn

After attending this presentation, participants will be able to:

  • Define all the regulations that are included in credit card lending (more than you think!)
  • Describe the specific underwriting and servicing provisions unique to credit card lending
  • Explain how credit card error resolution is different from Reg E
  • Recognize credit card lending is not the same as other open-end credit lending

Topics Covered in This Course

Reg Z’s special credit card provisions, including:

  • Card issuance
  • Errors and disputes, including claims for dissatisfaction with goods and services
  • Prohibition on right of offset
  • Prompt crediting of refunds

The Credit Card Accountability, Responsibility, and Disclosure Act (Credit CARD Act) provisions, including:

  • Advance notice for account changes and consumer’s right to reject changes
  • Periodic statement delivery, disclosure, and content requirements
  • Payments: minimum amounts, allocation, and cut-offs 
  • Limitations on certain fees, finance charges, and increases in APR
  • Over-the-limits rule
  • Ability to Repay requirements
  • Special rules for “underage” consumers less than 21 years old
  • Application and solicitation requirements
  • Differences between credit cards, charge cards, and hybrid prepaid-credit cards

SCRA and MLA relevance on credit card lending

FCRA considerations, including:

  • Pre-approved offers of credit (prescreening)
  • Risk Based Pricing Notices or Credit Score Disclosures
  • Accurate reporting to credit bureaus

Reg B and Fair Lending considerations

  • Joint owners / Guarantors / Authorized signers
  • Decisioning tools
  • Adverse Actions

E-SIGN considerations

Community Reinvestment Act considerations

1071 coverage of business credit cards

UDAP and card rewards programs

Oldies but goodies:  BSA / OFAC / CIP / COBO

How do vendors fit in?

Duties and responsibilities – crucial!

Policies and procedures for it all

Who Should Attend

  • Compliance staff
  • Risk managers
  • Loan operations
  • Deposit operations
  • Loan officers
  • Marketing staff
  • Audit staff

Your Instructor

Rebekah Leonard
Rebekah Leonard

Rebekah is the owner of Elucidate LLC, a compliance training and consulting company. Elucidate means to "make clear, explain, throw light upon", and describes Rebekah's desire to illuminate the complexities of compliance with passion and fun. She's created and produced a TRID music video parody and several Compliance Breakout escape rooms, which she frequently provides at state banking compliance conferences. She is an accomplished speaker and regularly provides webinars through BOL and Compliance Resource. Rebekah is currently serving as the VP Director of Compliance for a $6 Billion community bank in Montana. She began her career in 1995 at a private lending company, but soon settled into banking, where she's covered nearly all of it - customer service and teller work, loan processing and review, and security and business continuity. She now oversees CRA, BSA and all aspects of compliance as a senior leader. She has successfully navigated numerous FDIC Compliance, CRA, and BSA Exams. Rebekah has a bachelor's degree in Organizational Leadership from Chapman University (Magna cum Laude), attended the American Bankers Association National Compliance School in 2003, and has held her Certified Regulatory Compliance Manager designation since 2006.

Training your team?

This course is covered under team memberships.

See Team Memberships
Buying for yourself?
$ 199
Included with Team Membership
Training your team?

This course is covered under team memberships.

See Team Memberships
$ 199
per attendee