Product Updates for February 2018
The Product Updates for February 2018 from BankPolicies.com feature the following new policy template product, new job description template products, and revised policy template products:
The release of these new and revised products is in response to the Equal Employment Opportunity Commission’s recently released Promising Practices for Preventing Harassment which identifies five core principles that have generally proven effective when implemented within organizations in preventing and addressing harassment.
Appraisal Review Officer Job Description Template – NEW!
Business Continuity Officer Job Description Template – NEW!
Chairman of the Board of Directors Job Description Template – NEW!
Change Control Officer Job Description Template – NEW!
Collateral Review Officer Job Description Template – NEW!
Commercial Loan Underwriting Officer Job Description Template – NEW!
Private Banking Specialist Job Description Template – NEW!
These new products were developed in response to client requests who submitted their suggestions to our “Client Wish List.” Your comments and ideas are always greatly appreciated and will be taken into consideration whenever we revise our current products or create new ones. In summary, we want to ensure your success and earn your business!
The update to these products is in response to the FDIC’s Supervisory Insights Journal – Winter 2017 dated 01/10/18 which illustrates how banks can strengthen credit MIS by incorporating forward-looking risk indicators and establishing a sound governance framework.
The update to these products is in response to the CFPB’s Final Rule entitled “Rules Concerning Prepaid Accounts Under the Electronic Fund Transfer Act (Regulation E) and the Truth in Lending Act (Regulation Z)” dated 01/25/18. This rulemaking relates to a final rule, published in the Federal Register on Nov. 22, 2016, as amended on April 25, 2017, regarding prepaid accounts under Regulations E and Z. The CFPB is finalizing modifications to several aspects of that rule, including with respect to error resolution and limitations on liability for prepaid accounts where the financial institution has not successfully completed its consumer identification and verification process; application of the rule’s credit-related provisions to digital wallets that are capable of storing funds; certain other clarifications and minor adjustments; technical corrections; and an extension of the overall effective date to April 1, 2019.
Keeping You Informed
We provide this Product Update Blog as a courtesy to all clients regarding new and revised products released by BankPolicies.com. We feel that it is important to keep our clients well informed of changes to the financial institution industry, including keeping on top of federal regulatory changes, and industry recommended best practices. In this regard, we encourage you to subscribe to our newsletter in which these types of announcements are made including any special offers that can save you time and money. Just contact us to be added to our distribution list.