Open-Ended Lines of Credit - Compliance Issues
Course Number: Webinar
Course Code: n/a
Complying with the open-ended provisions of Regulation Z is a complicated issue. There are many intricate requirements to follow, from disclosures, servicing, and advertising. Plus, there are differing requirements depending on whether the plan is a home equity line of credit (HELOC), credit card plan, or personal or overdraft line.
This webinar will focus on the personal/overdraft lines and HELOC requirements. We will discuss how to ensure all the Reg. Z rules are followed, especially around disclosures. We’ll also touch on some of the other rules that impact HELOCs, such as appraisal rules and the coming HMDA requirements.
Covered Topics
-Determining basic coverage of lines of credit under Reg. Z and other consumer protection rules
-Changes in terms – “significant changes”
-Treatment of credit balances
-Disclosing variable rate plans
-HELOC special provisions, including right of rescission
-Advertising open-ended credit plans, including marketing to college students
-Servicing – periodic statements
-Real estate laws and regs for HELOCs
-Fair lending implications (there are some!)
-And much more
Audience: Anyone in the institution having responsibilities in offering, underwriting or servicing consumer-purpose open-ended credit plans, including loan officers, processors, clerks, closing agents, and so forth. Also compliance officers and counsel will benefit from the information provided in this webinar.
Prerequisites: n/a
