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BOL Operations Compliance Triage

September 20, 2022 @ 10:00 am - September 21, 2022 @ 6:00 pm

operations compliance triage

Conference – TUESDAY – WEDNESDAY , September 20 – 21, 2022

Day 1
9:00 – 10:00 Welcome and Discussion of our Changing Landscape
10:00 – 10:10 BREAK
10:10 – 11:00 Keeping current on overdrafts and fees
11:00 – 11:10 BREAK
11:10 – 12:00 Fair Banking with a UDA(A)P Hammer
12:00 – 1:00 LUNCH
1:00 – 2:00 BSA Update
2:00 – 2:10 BREAK
2:10 – 3:00 Reg E, EFT, P2P – Problems and Solutions
3:00 – 3:10 BREAK
3:10 – 4:30 Panel Discussion–Q and A
Adjourn – See you tomorrow!
Day 2
9:00 – 9:30 Nonresident Alien Interest Reporting – Disaster Management
9:30- 10:00 Individual Retirement Account Issues and Changes
10:00 – 10:10 BREAK
10:10- 11:00 Regulation CC Holds
11:00 – 11:10 BREAK
11:10 – 12:00 Checks-Returns, Liabilities and Fraud
12:00 – 1:00 LUNCH
1:00 – 2:00 Avoiding Common Violations
2:00 – 2:10 BREAK
2:10 – 3:00 ACH odds and ends
3:00 – 3:10 BREAK
3:10 – 3:45 Legal Paperwork, Court Ordered Accounts, Power of Attorneys
3:45 – 4:30 Discussion–Q and A
Adjourn – Thank you for attending!

Welcome and Discussion of our Changing Landscape – During our welcome session we will cover where we left off from last year. What has happened in the Deposit Operations area and what are our major concerns in 2022. A special look at online account opening the good, the bad and the ugly. Learn how to set up accounts online.

Keeping current on overdrafts and fees – What are banks and credit unions doing about overdrafts and overdraft fees? Use of available balances for authorizations and triggering overdrafts has prompted regulators’ concerns, and some institutions have made changes. Depositor suits over multiple OD fees for a single item have made us realize that the required Reg. DD disclosures are not enough anymore. The Bureau has taken a broad swipe at “junk fees” everywhere, but it’s clear it’s targeting financial institutions. How can we navigate such choppy seas?

Nonresident Alien Interest Reporting – Disaster Management – Most financial institutions are out of compliance on nonresident alien interest reporting and W-8BENs. Learn how to complete the W-8BEN and how we report interest for those countries in the tax exchange program. Why we need a Foreign Taxpayer Identification Number and what we do if we don’t have it. Learn the difference between Customer Identification Programs and interest reporting.

Individual Retirement Account Issues and Changes – New life expectancy tables, death issues and pending legislation make IRAs a hot spot. Do you know what to do when someone dies on an IRA? If you don’t then you can make many errors which can be costly to your institution. SECURE Act 2.0 is pending in Congress and would increase RMDs to 75. Learn more during this session.

Regulation CC holds – Can banks be fined for violating Regulation CC? Of course they can! But how about penalizing the people making the decisions? The OCC has fined a bank’s president when his bank violated Reg CC by placing holds on ACH deposits. The Federal Reserve and the CFPB continue to kick the can down the road on bringing the regulation up to date and making remote-deposited and mobile-deposited checks subject to the funds availability requirements of the regulation. We’ll take a look at what’s happening and offer ideas for making Reg CC holds compliance a little easier

Panel Discussion–Q and A – Q and A session. The instructors take the questions submitted that day for discussion.

Fair Banking with a UDA(A)P Hammer – In March the CFPB provided banks with an early warning. We’ve had fair lending for loan products for a lifetime but a common answer to discrimination questions on the deposit side of the bank is that there is no equivalent to fair lending for deposits. But many of us have preached that “fair banking” is the right mindset. The CFPB has said that even unintentional discriminatory practices on the deposit side can be cited as an unfair practice. That’s the “U” in UDA(A)P and it’s the hammer that can beat you. We’ll nail down some preemptive practices so fair banking can be added to your compliance mindset.

BSA Update – YBeneficial ownership update and coverage of the new national database. When is it coming? What do customers have to do? This session will cover other fast breaking BSA issues from CTRs to Cyber Crimes. Learn more about today’s BSA.

Reg E, EFT, P2P – Problems and Solutions – Reg E continues to be an issue at many banks. The CFPB has updated a Compliance Aid in the form of FAQs. While it doesn’t have the force of the Reg, it might as well. If your bank isn’t understanding the FAQs, claims may be handled incorrectly and noncompliance can cost way more than paying claims even when you feel it’s not what Reg E intended. Let’s look at some claims and claims practices and understand the bank’s responsibilities.

Checks 2.0 – During this session a myriad of check issues will be covered such as forgery, alterations, forged endorsements. Timing and coding of return items and how it all can go sideways. Learn who eats the check from one of the industry experts.

Avoiding Common Violations – Do you know what the common violations in Operations are? You should. Your examiner does. And more, the examiner will look specifically for them. Why – because there is a strong possibility that if other banks have these problems, yours will. Not having those same issues is a plus as it can demonstrate attention to detail and leads them to see yours as a sound compliance program. This session will review the common compliance violations we are hearing about so you can learn from the mistakes of others.

ACH odds and ends – How long do you have to return an ACH check conversion entry if there was a stop payment in effect on the check when the ACH entry was posted? Is there anything you can do if you missed the stop and your customer missed the 60-day cutoff? What can you do if a consumer claims there are 12 unauthorized $150 ACH debits that are three years old on her account, and you have to refund the first three under Regulation E’s rules? Have you seen an increase in Same Day ACH transactions as an ODFI or RDFI? How has your bank or credit union addressed the increased risk that comes with the new larger Same Day entries since March, when the cap went from $100,000 to $1 million per entry?

Legal Paperwork, Court Ordered Accounts, Power of Attorneys – There is a high cost to mismanagement of legal paperwork. Adding signers to fiduciary accounts, not understanding what the fiduciary can do or not do, small estate affidavits and the variations in state laws on all these issues. Make sure you understand the risk of managing these accounts.

Discussion Panel – Q & A – Fascinating discussion of Hot Topics by industry experts. Your questions and the industry expert responses.


In addition, we encourage you to submit questions prior to the conference and we will do our best to incorporate the answers into the program. Simply email your questions to [email protected]. Of course, we’ve also set aside time to answer your questions during the conference .

We’ll be monitoring operational compliance developments to bring you the up-to-the-minute information and guidance that you need.


September 20, 2022 @ 10:00 am
September 21, 2022 @ 6:00 pm




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