The rule is now final! As of October 28, 2013, all financial institutions will be impacted by the new CFPB 1073 international remittance rule (Subpart B to Regulation E). This subpart was established to protect consumers who initiate cross border money transfers, including wires, ACH (IAT), online bill pay, certain prepaid card loads, and sweep accounts.
Don’t let these changes put your financial institution at risk. Join us to learn about the recent amendments and their impact. All elements of the rule will be reviewed, including key requirements, practical considerations, and preparation steps you can take to comply.
- The Remittance Transfer Rule, new proposed amendments, and expected effective date
- What qualifies as a Remittance Transfer, Sender, Recipient, and "Normal Course of Business"
- Disclosure requirements for prepayment, receipt, and foreign languages
- Accuracy requirements, exemptions, sender cancellation rights, and error resolution
- Preparation steps: developing policies, assessments, and determining responsibility
- TAKE-AWAY TOOLKIT
- Sample disclosures
- Electronic training log
- Quiz you can administer to measure staff learning and a separate answer key
Who Should Attend:
This informative session is designed for ACH operation staff, branch personnel, compliance officers, and AAP candidates. This course is eligible for 1.8 AAP credits.Attendance verification for CE credits provided upon request.
About the Presenter - Luann S. Kohlmann, AAP, NCP, WACHA
Luann serves as the Vice President of WACHA (The Premier Payments Resource), headquartered in Wisconsin. After many years in the financial industry Luann joined the WACHA team in 2003. She is responsible for development and execution of association member programs, including education, conferences, and publications. She also conducts ACH audits and risk assessments. Luann has spoken nationwide, including NACHA’s Electronic Payments Conferences, and is very active in national councils and committees. She has been an Accredited ACH Professional since 2002 and became a National Check Professional in 2011.
|Over $75 million
|$25 - 75 million
|Under $25 million