Record Retention and Penalties & Liabilities – ON-DEMAND WEBINARS

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?

HERE IS WHAT YOU WILL LEARN:

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