Know your training obligations
Understand lending-specific requirements for front-line staff.
Front-line staff wear many hats throughout the day.
You might start your day assisting members on the teller line only to find yourself at the new accounts desk after lunch. From time to time, you might even find yourself discussing real estate loan products with a member.
It’s this last part that might expose you to additional compliance requirements.
Section 1026.36 of Regulation Z (the Truth-in-Lending Act) imposes several requirements on loan originators in connection with loan transactions secured by a dwelling. For purposes of this regulation, loan originator is defined as an individual that performs any of the following functions:
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