Edcomm Banker's Academy Updates Compliance Training Program to Include Reg D Amendment

New York, NY (PressExposure) July 02, 2009 -- Edcomm Banker’s Academy has recently updated its compliance training program to include an amendment released late last month to Regulation D. Focus on Compliance has been revised as part of Edcomm Banker’s Academy’s commitment to providing the most up-to-date information.

According to the amendment, only required reserve balances at ineligible correspondents' accounts on behalf of their respondents will receive interest. However, that interest is required to be passed through to their respondents. The amendment allows six withdrawals and transfers from savings accounts each month to be made in the form of a check, draft, debit card or similar order payable to third parties, effective July 2. Depository institutions may retain the three check limit in their account disclosures and processes beyond the effective date as a matter of contract with depositors if they prefer to do so.

Focus on Compliance, from Edcomm Banker’s Academy, is a computer-based, distance-learning program that can be delivered via Internet, Intranet or CD. The program teaches banking compliance using easy-to-understand language in an interactive, self-paced format. Focus on Compliance covers: Bank Secrecy Act (BSA), Anti-Money Laundering (AML), USA PATRIOT Act, OFAC, Privacy, Reg P, Gramm-Leach-Bliley Act, Right to Financial Privacy, Sarbanes-Oxley (SOX), Reg CC & Check 21, Reg D, Reg E, Reg Z, Truth in Lending, FCRA, FACT Act, HMDA, CRA and Bank Bribery, among others. The program also includes a quick reference guide to all banking regulations and a searchable library of reference materials.

For more information about programs like this, or to find out how The Edcomm Group Banker’s Academy can customize any training program, log onto http://www.bankersacademy.com or call +1.212.631.9400.

The Edcomm Group Banker’s Academy is a 22-year-old multimedia education and communication consulting firm specializing in the development of creative business solutions that improve productivity, customer service and market share - providing bottom-line results. The Edcomm Group Banker’s Academy has had the privilege of assisting many distinguished clients with business solutions in the form of eLearning programs, classroom instruction, multimedia production and online and print-based documentation. Edcomm Banker's Academy offers many off-the-shelf and customized courses such as Teller Training, Compliance Training and Systems Training specifically designed for Banks, Credit Unions and Money Services Businesses (MSBs).

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Contact: Linda Eagle Edcomm Banker’s Academy 21 Penn Plaza Suite 1010 New York, NY 10001, USA Tel: +212.631.9400 Fax: 212.631.0659 linda.eagle@edcomm.com http://www.bankersacademy.com

About Edcomm Banker's Academy

The Edcomm Group Banker's Academy is headquartered in New York City with locations and representation throughout the world.

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Press Release Submitted On: July 02, 2009 at 3:27 am
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