Understand the opportunities available for banks to embrace new products and services, while staying compliant.
The Truth in Savings Act (TISA), and its implementing regulation, Regulation DD, apply to all banks. Regulation DD requires banks to provide disclosures enabling consumers to make informed decisions about their deposit accounts. The disclosures aid comparison shopping by informing consumers about the fees, annual percentage yield, interest rate, and other terms for deposit accounts. This webinar will provide an overview of the Regulation DD disclosure requirements and provide details on compliance. Attendees will improve their understanding of Regulation DD, including what disclosures are required when they must be provided, and how to calculate the annual percentage yield.
Learning Objectives
- You will be able to identify the disclosures for Regulation DD mandates deposit accounts to disclose to clients.
- You will be able to evaluate the fees associated with Regulation DD.
- You will be able to discuss compliance requirements and determine annual percentage yield.
- You will be able to integrate disclosures from presentations into real-world scenarios.
Agenda
- Purpose of Regulation Dd and Scope of Coverage
- Account Opening Disclosures: Timing and Contents
- Subsequent Disclosures and Adverse Effects
- Payment of Interest
- Calculation of Annual Percentage Yield
- Advertising Rules
- Deposit Broker Issues
- Record Retention Requirements
- Overdraft Disclosures
Speakers
Casey Jennings,
Seward & Kissel LLP- Member of Seward & Kissel LLP’s Financial Services Regulatory Group and Blockchain and Cryptocurrency Group in their Washington, D.C. office
- Regularly provides legal aid to clients with respect to financial matters such as deposit issues, lending services, state and federal licensing and registration, anti-money laundering, custody, transfer, payments, and liquidity issues, and the Bank Holding Company Act
- A primary focus of his practice is structuring new financial products, including FDIC-insured deposit products (including brokered deposits and deposits exempt from classification as brokered) and virtual financial products (including securities tokens, utility tokens, and stablecoins)
- Joined the firm from the Consumer Financial Protection Bureau where he developed and implemented a financial regulatory policy with a focus on unfair, deceptive, and abusive acts and practices (UDAAP), electronic fund transfers, truth in lending, qualified mortgages, fair credit reporting, and data privacy and security
- Law clerk for the Honorable James C. Turk, Senior United States District Judge for the Western District of Virginia
- Contributor to Seward & Kissel LLP’s Cryptocurrency and Blockchain blog, SKrypto, and also moderated the firm’s recent Blockchain Symposium
- Co-authored the United States chapter of the 2022 edition of Lexology Getting the Deal Through: Fintech, which provides a summary of key aspects of United States fintech law
Who Should Attend
This live webinar is designed for presidents, compliance officers, vice presidents, branch managers, business owners and managers, loan officers, loan department personnel, mortgage brokers, underwriters, and attorneys.
