New York, NY (PressExposure) March 09, 2011 -- Edcomm Banker's Academy has recently added information on the Home Mortgage Disclosure Act (HMDA) to its online library and resource center for Banks, Credit Unions and Money Services Businesses (MSBs) at http://www.bankersacademy.com/library.php. The Library presents the important information that financial institutions around the world need to know about HMDA in an organized and easy-to-use format.
Passed in 1975, HMDA requires financial institutions to maintain and annually disclose data about home purchases, home purchase pre-approvals, home improvement, and refinance applications involving 1 to 4 unit and multifamily dwellings. It also requires branches and loan centers to display a HMDA poster. HMDA was designed by the Federal Reserve Board in order to help public officials to distribute public-sector investments, discover if financial institutions are serving housing needs of communities and to identify where there are discriminatory lending practices.
The Banker's Academy Library contains vital and current industry information such as regulatory references, forms, articles and other important documents. The Library currently includes the full Bank Secrecy Act (BSA), Basel II, the FATF's Forty Recommendations on Money Laundering, the FATF's Nine Special Recommendations on Terrorist Financing, the Flood Insurance Act of 1968, the Flood Disaster Protection Act of 1973, EU Directives for Anti Money Laundering (AML), the Community Reinvestment Act, the Consumer Credit Protection Act, the Equal Credit Opportunity Act (ECOA), the FACT Act or FACTA, the FCRA and the FDCPA. The industry experts at Banker's Academy will continue to add new information as a part of their commitment to providing the most pertinent and up-to-date financial services information to the global financial industry.
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.