REGULATION Z (TRUTH IN LENDING) COMPLIANCE UPDATE FROM EDCOMM BANKER'S ACADEMY

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 7, 2008 -- (NEW YORK, NY) – August 7, 2008

The Edcomm Group Banker’s Academy has updated its content with a new rule approved July 14, 2008 by The Federal Reserve Board. The final ruling, which amends Regulation Z (Truth in Lending), will better protect consumers and facilitate responsible lending. The regulation update will take effect October 1, 2009 and in order to prepare for the change, institutions must be sure that the amendment is incorporated into all Compliance training courses.

The rule prohibits unfair, abusive or deceptive home mortgage lending practices and restricts certain other mortgage practices. It adds four key protections for a newly defined category of "higher-priced mortgage loans" secured by a consumer's principal dwelling. The final rule also establishes advertising standards and requires certain mortgage disclosures to be given to consumers earlier in the transaction.

Focus on Compliance, from Edcomm Banker’s Academy, is a computer-based, distance learning program, which can be delivered via Internet, Intranet or CD. The program teaches banking compliance using easy-to-understand language in an interactive, self-paced format. Participants learn from their own perspective, with a curriculum customized to their position. Focus on Compliance covers: Bank Secrecy Act (BSA), Anti Money Laundering (AML), USA PATRIOT Act, OFAC, Privacy, Gramm-Leach-Bliley, Sarbanes-Oxley, Reg CC, Check 21, Reg E, Truth in Lending, FCRA, FACT Act, ECOA, Fair Lending, HMDA, CRA, and Bank Bribery, among others. The program also includes a quick reference to all banking regulations, as well as a glossary of terms and a reference library.

For more information about programs like this, or to find out how The Edcomm Group Banker’s Academy can customize any training program, log onto www.bankersacademy.com or call 888-433-2666.

The Edcomm Group Banker’s Academy is a 21-year-old multimedia education and communication consulting firm specializing in the development of creative business solutions that improve productivity, customer service and market share - providing bottom-line results. The Edcomm Group Banker’s Academy has had the privilege of assisting many distinguished clients with business solutions in the form of eLearning programs, classroom instruction, multimedia production and online and print based documentation. Edcomm Banker's Academy offers many off-the-shelf and customized courses such as Teller Training, Compliance Training and Systems Training specifically designed for Banks, Credit Unions and Money Services Businesses (MSBs).

The Edcomm Group Banker's Academy (www.edcomm.com) (www.bankersacademy.com) is headquartered in New York City with an Advanced Design Center located in Fort Washington, Pennsylvania.

compliance training     teller training