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Course description

ICB Credit: 2.5 CRCM

t's been another busy year for operations compliance. There were civil money penalties assessed for overdraft practices; revisions to the Call Report; a significant penalty for a bank's cross-selling program; and an online payment company was hit with a penalty for deceiving consumers about the security of its payment system, just for starters. Plus, there were some significant BSA/AML penalties imposed; the usual collection of OFAC announcements of SDN List changes; OFAC violations and settlements; guidance from FinCEN; more emphasis on faster payments, including the start of same-day ACH; and more geographically targeted orders (GTOs). We'll hit all the highlights during this fast review of the year's operations compliance issues, and tell you where to find more information on developments you may have missed during the year.

What's new?
What's different that you need to be watching?
What do you now need to focus your attention on this year?

Find out about the changes that may have slipped through the cracks, or sit back in comfort, knowing that you've covered all the bases and are prepared to take on the coming year's inevitable challenges as the Bureau continues to put its stamp on consumer compliance concerns.

Here are some of the things we'll cover in this fast-paced two-hour presentation:


  • UDAP and UDAAP in the operations area - significant enforcement actions
  • The Bureau's new Prepaid Accounts rule
  • Overdraft protection - very much still an issue.
  • What you should be doing (or not) about annual privacy notices
  • What you need to know about the changes in OFAC's Cuba sanctions
  • Regulatory emphasis on complaint policies and resolution - tweaks to make to what you're doing now
  • Any developments involving virtual currencies, and what you need to know about them
  • Cyber-attacks on ATMs and card authorization systems
  • Third-party payment processors
  • Operations-related changes to OCC's Comptroller's Handbook
  • What the Fed's changes to Regulation D mean for you
  • The "Volcker rule" on interchange fees - What's the latest?
  • Examination hot buttons
  • Same-day ACH settlement - It's up and running, in part
  • BSA/AML developments
  • and more


Instructor(s)

John Burnett

John Burnett is a 1979 alumnus of the ABA National Compliance School, and served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA's Stonier Graduate School of Banking, and is also a graduate of the BAIs and the Massachusetts Banker Associations Schools of Banking.John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT's Board of Directors, as well as Clerk of the bank's holding company. John joined Glia Group, Inc. and the BankersOnline.com team in June, 2004. He is a frequent presenter of BOL Learning Connect webinars, and at BOL Conferences events.He was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and a former member of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA's Truth in Savings Task Force as Regulation DD was being written, and has served on several ABA and Massachusetts Bankers seminar panels.

Course curriculum

  • 1

    Video

    • Annual OPERATIONS Compliance Recap
  • 2

    Materials

    • Materials

    • Slides

    • Questions and Answers