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Product Update Notification - 07/25/11 New Policy Template Counterparty Credit Risk Management Policy Template - NEW! This new product was developed in response to the Interagency Guidance entitled "Counterparty Credit Risk Management - Supervisory Guidance" dated July 5, 2011. This guidance clarifies supervisory expectations and sound practices for an effective counterparty credit risk (CCR) management framework. The guidance emphasizes that banks should use appropriate reporting metrics and limits systems, have well developed and comprehensive stress testing, and maintain systems that facilitate measurement and aggregation of CCR throughout the organization. http://www.fdic.gov/news/news/financial/2011/fil11053.html Revised Policy Templates Fair Credit Reporting Act Policy Template The update to these products is in response to the Federal Reserve's Press release dated July 6, 2011 that announced final rules to implement the credit score disclosure requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. If a credit score is used in setting material terms of credit or in taking adverse action, the statute requires creditors to disclose credit scores and related information to consumers in notices under the Fair Credit Reporting Act (FCRA). The rules under Regulations V and B are effective 30 days after the date of publication in the Federal Register, which is expected soon. http://www.federalreserve.gov/newsevents/press/bcreg/20110706a.htm In addition, a new product entitled "Equal Credit Opportunity Act Sample Notification Forms Template" is now included in the purchase price of the Regulation B Policy Template. The update to these products is in response to the Federal Reserve's Press release dated July 14, 2011 that announced the approval of a final rule to repeal its Regulation Q, which prohibits the payment of interest on demand deposits by institutions that are member banks of the Federal Reserve System. The final rule implements Section 627 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which repeals Section 19(i) of the Federal Reserve Act in its entirety effective July 21, 2011. http://www.federalreserve.gov/newsevents/press/bcreg/20110714a.htm Regulation X (RESPA) Policy Template The update to this product is in response to HUD's final rule that made technical corrections and certain clarifying amendments to HUD's RESPA regulations. The final rule is effective August 10, 2011. Other Revised Policy Templates We updated the following products in response to the transfer of OTS federal regulatory oversight responsibilities to the OCC. Since the update to these products is very minor in scope, this page of our website contains detailed information regarding the changes so you may update your policy accordingly. Asset, Liability and Liquidity Management Policy Template Bank Secrecy Act Policy Template Branch Closing Policy Template Commercial Loan Policy Template Community Reinvestment Act Policy Template Compliance Management Policy Template Flood Disaster Protection Act Policy Template Human Resources General Policy Template Human Resources Salary Administration Policy Template Loan Loss Reserve (ALLL) Policy Template Non-Accrual and Charged-Off Loan Policy Template Office of Foreign Assets Control Policy Template Other Real Estate Owned Policy Template Real Estate Loan Policy Template Right to Financial Privacy Act Policy Template Risk Management of Products and Services Policy Template Secure and Fair Enforcement for Mortgage Licensing Act Policy Template What's Revised Please visit the following pages to review revised topics for these products: Fair Credit Reporting Act Policy Template Update Details New Accounts Policy Template Update Details Regulation B Policy Template Update Details Regulation D Policy Template Update Details Regulation X Policy Template Update Details Other Revised Policy Templates Update Details Ordering Information These products are available to purchase from Bankpolicies.com for: Counterparty Credit Risk Management Policy Template $175.00 - List Price Fair Credit Reporting Act Policy Template $375.00 - List Price - or - $50.00* - Update Price *Applies only to clients who have purchased the Fair Credit Reporting Act Policy Template within the last three years in addition to the following prior updates (if applicable): Fair Credit Reporting Act Policy Template Update - 02/22/10- $75.00 Fair Credit Reporting Act Policy Template Update - 08/03/09- $50.00 Fair Credit Reporting Act Policy Template Update - 10/24/08- $100.00 New Accounts Policy Template $275.00 - List Price - or - $25.00* - Update Price *Applies only to clients who have purchased the New Accounts Policy Template within the last three years in addition to the following prior update (if applicable): New Accounts Policy Template Update - 04/06/09 - $25.00 Regulation B Policy Template $325.00 - List Price - or - $50.00* - Update Price *Applies only to clients who have purchased the Regulation B Policy Template within the last three years in addition to the following prior update (if applicable): Regulation B Policy Template Update - 01/06/09 - $50.00 Regulation D Policy Template $225.00 - List Price - or - $50.00* - Update Price *Applies only to clients who have purchased the Regulation D Policy Template within the last three years in addition to the following prior updates (if applicable): Regulation D Policy Template Update - 06/07/10 - $25.00 Regulation D Policy Template Update - 06/22/09 - $50.00 Regulation X (RESPA) Policy Template $325.00 - List Price - or - $50.00* - Update Price *Applies only to clients who have purchased the Regulation X (RESPA) Policy Template within the last three years in addition to the following prior update (if applicable): Regulation X (RESPA) Policy Template Update - 08/24/09 - $150.00 If you have ordered any of these products after 06/25/11 you are eligible to receive that updated product at no charge. Click here to place an order for any of these products. The appropriate Legacy Rewards Volume Discount will be applied to the update or list price for clients who are eligible. NOTE: Refer to our Place an Order page for important information regarding payment terms and our return policy. Orders placed for Product Updates are only available directly through Bankpolicies.com. Find Out What's New or Revised with our Product Update Program Our Product Update Program allows existing clients to receive e-mail notifications from us the same day we issue a new or revised product. We encourage you to subscribe today for this free and convenient service. |