Call Center Representatives assist customers by opening accounts, identifying and handling inquiries, and cross-selling bank products. Effective call center representatives must also demonstrate a thorough knowledge of the regulations that affect bank policies and procedures. Regulatory Compliance for Call Center Representatives offers valuable information on ten regulations that directly affect the responsibilities of Call Center Representatives in most financial institutions. The regulations have been divided into four categories. Each category will take approximately one hour to complete. The lists below show the four categories and the regulations included in each category.

Privacy and Security

• Bank Secrecy Act (BSA)
• Office of Foreign Asset Control (OFAC)
• USA PATRIOT Act
• Privacy for Customer Contact Personnel

Deposit

• Expedited Funds Availability Act, Regulation CC
• Truth in Savings Act, Regulation DD

General Account Inquiry

• Electronic Funds Transfer Act, Regulation E 
• Reserve Requirements of Depository Institutions, Regulation D

Equal Treatment

• Fair Credit Reporting Act (FCRA)
• Americans with Disabilities Act (ADA)

Audience

Call Center Representatives who must effectively demonstrate a thorough knowledge of the regulations that affect bank policies and procedures.

Learning Objectives

After completing this course, students will be able to:

• Explain their responsibility in complying with the privacy and security regulations by using and filing appropriate BSA and OFAC reports, describing accounts that pose risks to the bank under the USA PATRIOT Act, and explain the privacy issues that impact customers under Privacy for Customer Contact Personnel.
• Explain their responsibility in complying with the deposit regulations by describing hold policies under Regulation CC, account disclosures and inquiries under Regulation DD.
• Explain their responsibility in complying with general account inquiry regulations by describing the effect of Regulation D on the function of various account types, and the process of customer notification to the bank under Regulation E.
• Explain their responsibility in complying with the equal treatment regulations by describing consumer notices and information sharing under FCRA, and using best practices to avoid discriminating against customers in lending activities under ADA.