The Edcomm Group Banker’s Academy has updated its content with The Red Flag Rules, the latest addition to the Fair and Accurate Credit Transactions Act (FACT Act). This regulatory revision must be incorporated into all Compliance training courses by November 1, 2008. The update was seamless for clients of Edcomm Banker’s Academy—Focus on Compliance was updated in November of 2007, immediately upon publication of the rules to ensure that the program is always up-to-date and accurate.
The Red Flag regulations were set in place to prevent and detect banking fraud and identity theft. Institutions must develop and implement a training program that identifies and detects relevant Red Flags and responds appropriately. Furthermore, institutions must ensure that the program is updated periodically to reflect changes in risks to customers or to the safety and soundness of the financial institution or creditor.
Focus on Compliance, from Edcomm Banker’s Academy, teaches banking compliance using easy-to-understand language in an interactive, self-paced format. Participants learn from their own perspective, with a curriculum customized to their position. 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.
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 888-433-2666.
The Edcomm Group Banker’s Academy is a 21-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
21 Penn Plaza
Suite 1010
New York, NY
The Edcomm Group Banker's Academy (www.edcomm.com) (www.bankersacademy.com) is headquartered in New York City with an Advanced Design Center located in Fort Washington, Pennsylvania.
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