Record Retention and Penalties & Liabilities – ON-DEMAND WEBINARS


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SKU: SWRET Category:

Date Recorded: January 27, 2022

Presenter: Anetria Cohen, Vice President and Senior Consultant, FORVIS

Two Topics in One Webinar!

Record Retention: It’s not enough to just comply with rules. Financial institutions, of course, have to retain documents for a number of reasons: to be able to show compliance with rules; to review, if there are any questions or complaints; to give copies to customers upon request; and to be able to respond to litigation and subpoenas.

The first half of the webinar will review the Federal lending, deposit, and BSA/AML rules that require institutions to maintain documentation. What documents do we have to keep, and for how long? What if a rule doesn’t have any specific record retention requirements?

Penalties: Also important is the always-present possibility of a penalty when we violate rules. Sometimes, people take a rule more seriously if they realize the amount of a penalty that can be assessed.

The second half of the webinar will review the potential general and specific Federal lending, deposit, and BSA/AML penalty amounts, including the increase in certain civil money penalties in accordance with inflation. What penalties can be imposed with violations of these provisions?


This webinar will provide a review of record retention and penalty/liability rules under the following:

  • Lending Regulations, including, but not limited to,
    • Truth-in-Lending, Real Estate Settlement Procedures Act
    • Equal Credit Opportunity, Fair Credit Reporting, Home Mortgage Disclosure Act
    • Flood Insurance
    • Community Reinvestment Act
  • Deposit Regulations, including, but not limited to,
    • Truth in Savings, Regulation CC, Regulation D, Regulation E
  • Bank Secrecy Act and Anti-Money Laundering
Who Should Listen

This webinar is designed for compliance officers, auditors, and anyone else involved in the compliance areas.

Program Level: Basic

Prerequisite/Advanced Preparation: Basic Knowledge of Lending Regulations

Field of Study: Specialized Knowledge

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Any recording, transmission, retransmission, or republishing of any portion of this webinar is prohibited.