Open-Ended Lines of Credit - Compliance Issues

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

Who Should Attend?

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.


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