Outlook Live, the Federal Reserve System’s webinar series dedicated to consumer compliance, will start qualifying for Continuing Professional Education (CPE) credits, according to an announcement from the Consumer Financial Protection Bureau (CFPB).
Certain professionals – such as certified public accountants (CPAs), certified tax specialists and educators – are required to obtain CPEs to maintain their professional licenses.
There will be a webinar hosted by the Federal Reserve at 2 p.m. EDT on March 1 that will cover construction lending under the TILA-RESPA Integrated Disclosure (TRID, or Know Before You Owe) rule, which became effective Oct. 3, 2015. (Click here to register.)
The CFPB released a two-page factsheet last month on construction loans in which it explained the difference between closed-end and open-end transactions. For instance, most construction loans that are closed-end consumer credit transactions secured by real property are covered by TRID; however, a construction loan that is an open-end transaction or a loan for a commercial purpose is not covered.
According to the webinar announcement, to be eligible for the CPE credits, you must attend the live session and complete the participant survey within 48 hours of the event.
The webinar is part of an ongoing series focused specifically on consumer compliance issues. The Outlook Live Audio Conference is a Federal Reserve System initiative produced in conjunction with the quarterly newsletter Consumer Compliance Outlook. The Outlook Live Archives also contains previous webinars along with indexes of questions asked and addressed to facilitate access to the information covered.
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CFPB releases factsheet on construction loans under TRID