Pub 1 2012 Issue 1

January/February 2012 7 Leading advocate for the banking industry in Kansas. HIGHLIGHTS OF 2012 NEW REGULATIONS 2012 By Becky S. Tongish, Senior Vice President - Educational Resources By Terri Thomas, Senior Vice President - Legal Department Director W ELCOME TO 2012. BECAUSE WE WORK SO FAR ahead in the education department, it feels like it’s been 2012 for awhile now. In fact, it won’t be long before we will be starting to plan our 2013 schedule. Yikes… time flies. We recently completed our 2012 Educational Preview and have dis- tributed it via e-source and our website. This is an excel- lent time for you to reviewwhat we have coming up during the next year and start developing your education and training plan for your employees. In today’s challenging environment, it is more important than ever that your staff is kept abreast of new and existing laws and regula- tions, as well as ways to improve their performance and the bank’s bottom line. Here are a couple of highlights for the next couple of months: KBA will offer their every-other-year train- ing workshop for Bank Directors on February 28 O VER THE NEXT FEW WEEKS, BANKERS WILL SEE announcements that the Consumer Financial Protection Bureau is proposing and repub- lishing certain consumer regulations, as well as requesting comments on new consumer regulations. Some of the regulations are transferring from the control of the Federal Reserve to the CFPB, and some of these are new. Thus far, changes being made are not expected to substantially impact financial institutions already subject to the established consumer regulations. However, be warned, the CFPB expects to substantially amend some of the regulations in future (such as Regulation Z and RESPA) as directed by the Dodd-Frank Act. Some of the regulations announced by the CFPB are: • Regulation C (HMDA) which will be cited as 12 CFR 1003 • NewRegulations G andH (S.A.F.E. Mortgage Licensing Act, Federal and State, respectively) will be cited as 12 CFR 1007 and 1008 • Regulation M (Consumer Leasing) will be cited as 12 CFR 1013 • New Regulation F (Fair Debt Collection Practices Act) and 29 in Hutchinson and Lawrence, respectively. Never have the demands on bank boards been greater. This workshop will address current economic and regula- tory environments and their impact on the role of a bank director. The discussion will include regulatory actions, performance management, audit committee function, board reports andmuchmore. Register your entire Board today at www.ksbankers.com . The Tri-state Leadership andHR Conference, co-sponsored by the Kansas, Missouri and Nebraska Bankers Associations, will be held March 28-29 at the Doubletree Hotel in Overland Park. This year’s program will address such topics as changing demographics, genera- tional differences, talent management, leadership vs. management, and the HR audit. will be cited as 12 CFR 1006 • NewRegulation I (Disclosure Require - ments for Depository Institutions Lacking Federal Deposit Insurance) will be cited as 12 CFR 1009 • NewRegulations N (Mortgage Acts and Practices-Advertising) and Regulation O (Mortgage Assistance Relief Services) will be cited as 12 CFR 1014 and 1015, respectively. • Regulation X (Real Estate Settlement Procedures Act) will be cited as 12 CFR 1024. • Regulation P (Privacy of Consumer Financial Protection) will be cited as 12 CFR 1016; • Regulation DD (Truth in Savings) will be cited as 12 CFR 1030; • Regulation V (Fair Credit Reporting) will be cited as 12 CFR 1022; • Regulation B (Equal Credit Opportunity) will be cited as 12 CFR 1002; • NewRegulations J (Land Registration), K (Purchasers’ Revocation Rights, Sales Practices and Standards), and L (Special Rules of Practice). The regulations were formerly HUD’s rules and will be cited as 12 CFR 1010, 1011, and 1012, respectively; • Regulation Z (Truth in Lending) will be cited as 12 CFR 1026.