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Description
The Professional Teller: Observing Government Regulations offers the student an overview of the Expedited Funds Availability Act, or Regulation CC, and how it applies to daily situations. The program also covers funds availability schedules used by financial institutions and what circumstances allow the delaying of availability of funds. In addition, the program teaches the student about the Community Reinvestment Act, or Regulation BB, and the Truth in Savings Act, or Regulation DD, as well as their applications. Finally, the program covers the Bank Secrecy Act and how it is applied to money laundering, when the student should file a Currency Transaction Report, and when to apply the $3,000 rule.
Audience
New and experienced tellers at any financial institution.
Prerequisites
(Currently no course prerequisite information)
Objective
- Explain the funds availability schedules that financial institutions can adopt.
- List circumstances that require an exception hold.
- List the actions financial institutions take to comply with the CRA.
- Identify accounts covered by Truth in Savings.
- List reportable transactions under Bank Secrecy.
- Identify when a Currency Transaction Report (CTR) must be filed.
- Follow the $3,000 rule.
Topics Include
Unit 1: Regulation CC - Explain the purpose of Regulation CC.
- Explain the benefits of Regulation CC to your customers.
- Identify accounts that are covered by Regulation CC.
- List the five situations that require a disclosure to be made.
- Explain the funds availability schedules that financial institutions can adopt.
- Differentiate between local and non-local checks.
- List what deposits always qualify as next-day availability items.
- Determine the date when deposited funds become available.
- List circumstances that require an exception hold.
- Identify the amount of available funds using Regulation CC.
- Identify business days.
- Simulation Overview:
- In this simulation, you will be presented with several scenarios in which you must apply your knowledge of the rules and stipulations of Regulation CC. The scenarios will test your ability as a professional teller to identify when different types and sizes of deposits should be made available for withdrawal.
Unit 2: Regulation BB and Regulation DD - Explain the purpose of the Community Reinvestment Act.
- List the actions financial institutions take to comply with the CRA.
- Fulfill your responsibilities as a teller according to the CRA.
- Demonstrate an understanding of Regulation BB.
- Comply with Regulation BB.
- Identify accounts covered by the Truth in Savings Act.
- Explain how financial institutions comply with the Truth in Savings Act.
- List what information must be included in a written account disclosure.
- Explain the Annual Percentage Yield to a customer.
- Fulfill your responsibilities as a teller according to the Truth in Savings Act.
- Demonstrate an understanding of Regulation DD.
- Comply with Regulation DD.
- Simulation Overview:
- In this simulation, you will meet with John Cunningham. SimBank's Director of Operations. Mr. Cunningham has asked to meet with you to verify that you are fully versed on Regulations BB and DD, and that as a professional teller you are capable of completing your duties and responsibilities as they relate to those regulations. He will ask you a series of questions about the regulations and about what information you and SimBank are required to provide to your customers.
Unit 3: The Bank Secrecy Act - Explain the purpose of the Bank Secrecy Act.
- Describe possible suspicious activities.
- Identify when a CTR must be filed.
- List reportable transactions under the Bank Secrecy Act.
- Report the correct transactions.
- List what transactions qualify as an exemption from CTR.
- Follow the $3,000 rule.
- Simulation Overview:
- In this simulated experience, you are a professional teller at SimBank. You will have several different interactions with SimBank customers, in which you must decide whether or not to report the transaction based on the rules of the Currency Transaction Reporting Act and the $3,000 Rule. These interactions will also test your ability as a professional teller to effectively interact with customers and deal with basic deposit and withdrawal transactions.
Duration
4
Minimum Requirements
Minimum System Requirements: (Server)
- Microsoft NT 4.0 Server running Microsoft’s Internet Information Server (IIS) 4.0 (Service Pack 4 or newer)
- 200 MHz Pentium Processor Computer with a least 64 MB of RAM
- 15 MB of hard drive space per Audio Enhanced version
- 5 MB of hard drive space per Graphic Enhanced version
Minimum Playback Requirements: (Client)
Audio Enhanced Versions:
- Netscape 4.064.X with JVM 1.1.5 or higher.
- Microsoft Internet Explorer 4.01 Service Pak 2 with latest JVM from Microsoft.
- 100 MHz Pentium Processor Computer with at least 16 MB of RAM
- Windows 95, 98, NT 4.0, 2000
- 800 X 600 monitor at 16 bit color depth
- Sound Card and Speakers
Graphic Enhanced Versions:
- Netscape 4.064.X with JVM 1.1.5 or higher.
- Microsoft Internet Explorer 4.01 Service Pak 2 with latest JVM from Microsoft.
- Pentium Processor Computer with at least 16 MB of RAM
- Windows 95, 98, NT 4.0, 2000
- 800 X 600 monitor
Offline Delivery Versions:
- Latest JVM from Microsoft
- 100 MHz Pentium Processor Computer with at least 16 MB of RAM
- Windows 95, 98, NT 4.0, 2000
- 800 X 600 monitor at 16 bit color depth
- Sound Card and Speakers (optional)
CDROM Playback Specifications
Minimum Client Playback Specification:
Pentium Processor 166 MHz Computer
Windows 95, 98, NT 4.0, 2000
800x600; 16bit color
16 MB of RAM
At least 5 MB of hard drive space
Note: QuickTime requires an additional 20MB on the first install
Double speed CDROM drive
16bit sound card with speakers
Media
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