Edcomm Banker’s Academy has immediately updated its compliance training program to include the SAFE Act.
New York, NY, May 21, 2009 — Edcomm Banker’s Academy has immediately updated its compliance training program to include the SAFE Act. This new topic has been added to Focus on Compliance to keep clients up-to-date on the latest laws and regulations for the financial industry.
According to the SAFE Act, all residential mortgage loan originators must be either state-licensed or federally registered by August 2009. A mortgage loan originator employed by a federally insured depository institution (state or federally chartered), or any owned or controlled subsidiary of a federally insured depository institution, must also be federally registered under standards developed by the federal banking agencies. All other individual mortgage loan originators must be state licensed. The Act also states that if a state does not pass a conforming law, a state-licensed entity’s loan originators can be licensed through a HUD-backup system. All state licensed or federally registered mortgage loan originators will be registered with the Nationwide Mortgage Licensing System and Registry (NMLSR) maintained by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR).
Focus on Compliance, from Edcomm Banker’s Academy, is a computer-based, distance-learning program that can be delivered via Internet, Intranet or CD. The program teaches banking compliance using easy-to-understand language in an interactive, self-paced format. Focus on Compliance covers: Bank Secrecy Act (BSA), Anti Money Laundering (AML), USA PATRIOT Act, OFAC, Privacy, Reg P, Gramm-Leach-Bliley Act, Right to Financial Privacy, Sarbanes-Oxley (SOX), Reg CC & Check 21, Reg D, Reg E, Reg Z, Truth in Lending, FCRA, FACT Act, HMDA, CRA, and Bank Bribery, among others. The program also includes a quick reference guide to all banking regulations, a glossary of terms and a searchable library of reference materials.
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 +1.212.631.9400.
The Edcomm Group Banker’s Academy is a 22-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.bankersacademy.com) is headquartered in New York City with locations and representation throughout the world.
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Contact:
Linda Eagle
Edcomm Banker’s Academy
21 Penn Plaza Suite 1010
New York, NY 10001, USA
T: +212.631.9400
F: 212.631.0659
[email protected]
http://www.bankersacademy.com
