This is part three of the Lending Compliance 3-Part Webinar Series. Registration is for all 3 parts.
March 18, 2024
Part 3 will provide an overview of the commercial lending compliance requirements. This session is a great introduction for those new to the commercial lending process, as well as an important review for the experienced lenders, audit & compliance professionals.
The topics for commercial lending include:
- DELAYED FOR NOW - Overview of data collection requirements for minority & women-owned small businesses, Section 1071 rules
- Compliance for commercial loans including Regulation B, HMDA, Flood, and CRA reporting;
- BSA requirements for “legal entity” loan applications. New – FinCEN will begin accepting BOI (Beneficial Ownership Information) reports FROM certain businesses January 1, 2024. What will YOUR business customers need to know?
- Reg O requirements
What you will learn:
- Overview of Section 1071 regulations to collect data on applications for credit for women-owned and minority-owned small businesses
- Reg O overview and requirements for extensions of credit to directors, principal shareholders, and executive officers
- CRA reporting for small business and farm loans – New Rule becomes effective April 1, 2024 with staggered compliance dates in January 1, 2026 and January 1, 2027
- Loan application basics for commercial loans, including requirements for applications secured by real estate.
- Reg O requirements
- HMDA recap of coverage, required and exempt data fields, common violations, and tools for data integrity.
- Overview of Beneficial Ownership requirements and impacts to lending for loans made to a “legal entity” (corporations, LLCs, partnerships, etc.)
- Practical tips to avoid costly fines and lending compliance violations
This webinar series is designed to explain the basic requirements for lending compliance in terms that someone new to lending compliance can understand. It will also be an effective review for experienced lending personnel and employees who are responsible for an effective compliance management system. The series benefits lenders, loan support personnel, auditors, and compliance officers.
Susan Costonis is a compliance consultant and trainer. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real life examples.