Compliance Training: Deposit Operations

Course Objectives:

Describe the electronic fund transfer law, its depository
disclosure requirements, the protections afforded consumers
and the penalties for violating the law
Describe the truth in savings law, its purpose, the depository
required disclosures, the requirements of interest and
advertising, and the penalties for noncompliance
Describe the expedited funds availability law, its purpose, the
rules on when deposited funds can be withdrawn, the
required disclosures, the penalties for noncompliance and
the rules for collection and return of checks by financial
institutions
Describe the currency transaction reporting law, the rules for
reporting large currency transactions, suspicious
transactions and keeping records of cashier's checks and
other purchases; and the penalties that may be imposed for
violating the law
Describe the legal prohibition on paying the interest on
demand deposits
Describe the deposit reserve requirement

Target Audience: Depository personnel responsible for compliance in the area of deposit operations, as well as other retail branch employees, staff, and management

Study time: 2 hours

Author:
Digital University staff

© 2007, Digital University, Inc., All rights reserved