CRA Sunshine Act and Your Reporting Requirements
  • CODE : NOLL-0006
  • Duration : 60 Minutes
  • Level : Intermediate
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Thomas E Nollner has more than 38 years of experience in financial institution supervision and consulting. Mr. Nollner spent 30 years as a National Bank Examiner (NBE) for the Comptroller of the Currency where he was a safety and soundness examiner and a compliance examiner. The last 15 years as an NBE and for the past 8 years as a consultant, Mr. Nollner has specialized as an AML/CFT examiner/consultant. In these roles he has analyzed financial institutions’ AML/CFT programs to ensure that they complied with applicable AML/CFT laws, rules, and regulations; he reviewed the suspicious transactions identification, monitoring, and reporting processes; he traced proceeds and transactions through several layers of activity; and he provided AML/CFT training for many different financial institutions.

Mr. Nollner currently works as a consultant for the Office of Technical Assistance (OTA), a branch of the US Treasury that assists developing countries with banking issues. Mr. Nollner is assigned to the Economic Crimes Team that focused on training, assisting, and mentoring the staffs of the financial regulatory departments and financial intelligence units of various countries regarding AML/CFT compliance. In this capacity, he worked in countries such as Afghanistan, Iraq, Turkmenistan, Viet Nam, Honduras, Guatemala, Guyana, Suriname, and Argentina developing AML/CFT examination procedures, providing AML/CFT training and mentoring, and updating local AML/CFT laws and regulations.

This course will discuss disclosure and reporting requirements on banks and other insured depository institutions with respect to certain agreements related to the Community Reinvestment Act (CRA) as imposed by the Gramm-Leach-Bliley Act. The CRA Sunshine statute requires certain CRA-related agreements to be publicly disclosed and reported upon annually.

The Community Revetment Act has been in effect for several years. One of the sections of the Act discusses the fact that banks can count as a positivity activity monies, in-kind payments, and activity that can have monetary activity/value. As the Act matured and CRA related activity increased, a need to have both the entity providing the CRA related activity and the bank receiving the activity accurately report this activity was identified. The result was the CRA Sunshine Act which included detailed, required reporting guidelines. This webinar will discuss the requirements of the Act.

Learning Objectives

If your financial institution is required to comply with the requirements of the Community Reinvestment Act, it is important for you to understand the disclosure and reporting requirements for certain agreements related to the CRA required by the Gramm-Leach-Bliley Act (GLBA). This course will discuss what agreements are covered by GLBA, what disclosure and reporting requirements are addressed in the act, what policies, procedures, and practices your institution should develop to ensure compliance with the act, and the implications of non-compliance with the act.

Who Should Attend

  • CRA Officers
  • CRA Staff
  • CRA Auditors
  • Staff responsible for completing and submitting the required regulatory reports
  • Compliance Officers
  • Compliance Staff

Areas Covered

  • The background and intent of the GLBA as related to CRA
  • The CRA agreements covered by the GLBA
  • The CRA disclosure and reporting requirements addressed in the GLBA
  • The CRA policies, procedures, and practices you institution should develop to ensure full compliance
  • The implications of non-compliance with the GLBA
  • $175.00

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