Lenders can no longer risk taking Regulation B compliance casually. Examiners have begun to set their sights on Regulation B compliance and class action lawyers may not be far behind. Regulation B affects virtually every loan and carries severe penalties for failure to comply. In addition to invalidating offending guaranties, Regulation B also permits class action suits for punitive damages up to 1 percent of the lender’s net worth plus attorney fees.
Take Advanatage of FREE Training
Michael Forster of Sandberg Phoenix & von Gontard, P.C. will present a seminar on complying with the guaranty provisions of Regulation B. The program will include a discussion of when guaranties are permitted, who are permitted guarantors and what procedures must be followed to legally take a guaranty. The seminar will also cover effective methods for originating a loan to avoid violation of Regulation B.
This session is intended for MBL Loan Officers and Credit Union CEOs.
Date: Wednesday, March 20
Time: 8:30 a.m. (registration)
9 a.m. - noon (presentation)
Location: MCUA St. Louis Office
2055 Craigshire Road
St. Louis, MO 63146
This training is sponsored by Heartland Business Services. Click here to register.