New York, NY, October 03, 2015 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that James Defrantz, CRCM, CAMS, J.D. Principal-Virtual Compliance Management Services LLC will speak at the Knowledge Group’s webcast entitled: “The CFPB's TILA/RESPA Integrated Disclosures Rule: Navigating Its Enforcement Predicament LIVE Webcast.” This event is scheduled for October 23, 2015 from 3:00pm – 5:00pm (ET).
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About James Defrantz
James Defrantz, CRCM, CAMS, J.D. Principal-Virtual Compliance Management Services LLC, has 30 years of experience in financial service regulatory compliance. He is a specialist in compliance in consumer and real estate lending; BSA; CRA; Fair Lending; Consumer Operations; Non-Deposit Investment Products; Note Department Operations; Assessment of ALL and Credit Approval Process. He has served as a Senior Compliance Examiner at the Federal Reserve Bank in San Francisco; as an Analytical Manager at the Office of Thrift Supervision; and as a Commissioned National Bank Examiner at the Office of the Comptroller of the Currency (OCC). He has a Certificate from the Pacific Coast Banking School of Bank Management, a Juris Doctor from the University of San Francisco with a concentration in banking and finance, and a BA from Dartmouth College. He is a Certified Regulatory Compliance Management and Certified Anti- Money Laundering Specialist.
About Virtual Compliance Management Services LLC
Virtual Compliance Management is a collective of former regulators, compliance officers, internal auditors, and trainers ready to assist you with your business. Our consulting firm provides the flexible resources you need, including updating bank policies and procedures, training classes, compliance auditing, and quality control reviews, to make you stand out against your competition.
Boasting more than 100 years of auditing experience among its staff, Virtual Compliance Management focuses on the most critical areas with which community banks often struggle:
Community Reinvestment Act
Because we specialize in providing audit services to community banks, your Board and executive team will know that the bank’s audit meets all standards of the state and federal regulators under which it operates.
Aiming to simplify closed-end credit transactions and processes, the Consumer Financial Protection Bureau (CFPB) has recently published the Truth-In-Lending Act (TILA)/Real Estate Settlement Procedures Act (RESPA) integrated disclosures (TRID) rule.
The new regulation, under the Dodd-Frank Wall Street Reform and Consumer Protection Act, will become effective in August 2015 and is expected drastically to change the pre-closing disclosures creditors, mortgage brokers, and settlement agents must provide to borrowers under RESPA and TILA. With the TRID rule, making closed-end credit transactions will be easier. However, gearing up for implementation and compliance challenges is a must for consumers and creditors as drastic changes could also mean new requirements, expenses and liabilities.
Among other changes to the existing pre-closing procedures, the TRID enables 'integrated disclosures' in lieu of various documents traditionally used under RESPA and TILA for certain qualifying loans. However, implementation and compliance are problematic for creditors. In addition, the lack of a gradual transition to the new, integrated disclosures has many lawmakers and trade organizations questioning whether the CFPB should implement a non-enforcement period to allow creditors a period of adjustment before enforcement.
About The Knowledge Group /The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register for an event, please visit: http://theknowledgegroup.org/