Happy Holidays to you, our valued Compliance University™ subscriber!

With this greeting comes exciting news about your on-line learning solution.

First, we have made significant navigational enhancements to the Compliance University modules deployed via the Internet. While you may continue to navigate using the links in the left navigation pane, these enhancements offer you more navigational choices. You can move from page to page and from chapter to chapter by using the continue button in the gray bar at the top of each screen. Or, you can simply use the green arrow in the lower-right corner of each screen to proceed from page to page and from chapter to chapter. You choose the method most convenient and preferable for you! All modules—with the exception of the individual retirement account (IRA) group—will have these navigational enhancements available by the end of the year. The IRA modules will be deployed to the Learning Management System with these changes early next year, along with other important content updates.

Another exciting development underway is the addition of a “print later” option for the certificate of completion. In the event you need to go back into a module to print a certificate of completion, you will be able to do so by following the on-screen prompts. Many modules already have this enhancement. Those that do not will receive this feature with future compliance updates. Our goal is to update all modules as quickly as possible.

Additionally, we have added three new reports: Customer Post-Test Totals by Division, Customer Post-Test Totals by Region, and Customer Post-Test Totals by Branch. They are available as both filtered and unfiltered reports. Be sure to check them out!

Finally, we also updated several modules for important compliance changes. Details on the compliance content changes are included below.

Course update notification—August through December 2006

Advertising Compliance—B-144 (bank version only)

Advertising Compliance/Deposit Insurance Advertising/Overview (page 1 of 1)
Revised text reflects the changes in the Federal Deposit Insurance Corporation (FDIC) regulations that require including the FDIC “Official Advertising Statement” in deposit-related advertisements. Effective November 13, 2007, these regulations apply to savings associations, as well as banks.

Advertising Compliance/Deposit Insurance Advertising/
The Official Advertising Statement (page 1 of 1)
The new FDIC regulations reduced the number of permitted variations of the Official Advertising Statement. The new regulations also are more specific about the types of advertisements in which the Official Statement must appear. This page has been changed to reflect the new rules.

Advertising Compliance/Deposit Insurance Advertising/Exceptions
(page 1 of 3, page 2 of 3, and page 3 of 3)
The new regulations shortened the list of “exceptions” (i.e., those circumstances in which the Official Advertising Statement is not required). The new rules are also a little more clear about what types of advertisements in which the Statement should not appear when the advertisement relates, in part, to non-deposit products. The text on these pages has been changed to match the new rules.

Advertising Compliance—B&C-144 (bank and credit union versions)

Advertising Compliance/Miscellaneous Rules/“Do-Not-Call” Rule (page 1 of 2)
We added a reference to the Federal Communications Commission (FCC) rule that prohibits any calls to a residential telephone subscriber for telemarketing purposes unless the entity making the call has a written policy for maintaining its own do-not-call list and makes the policy available on demand.

Federal Regulation of Real Estate Appraisals—B&C-131
(bank and credit union versions)

Federal Regulation of Real Estate Appraisals/The Implementing Regulations/
Appraisal Standards (page 1 of 5)
The Uniform Standards of Professional Appraisal Practice (USPAP) were revised in June 2006. One change was to eliminate the “Departure” rule from the standards. Our course text referenced the Departure rule, so we revised our text appropriately.

Frauds and Scams—B&C-39 (bank and credit union versions)

Frauds and Scams/Good Old-Fashioned Stings/Found Money (page 2 of 2)
We added a warning that it is particularly important to pay attention to large withdrawals by elderly account owners because of the risk of elder financial abuse.

Frauds and Scams/Good Old-Fashioned Stings/Help Us Get the Crooked Teller (page 2 of 2)
We added a warning that it is particularly important to pay attention to large withdrawals by elderly account owners because of the risk of elder financial abuse.

High-Cost Mortgages—B&C-57 (bank and credit union versions)

High-Cost Mortgages/Key Concepts/High-Fee Mortgage (page 1 of 1)
The text has been updated to include the threshold amount for high-fee mortgages effective January 1, 2007.

Loans to Executive Officers—B-21 (bank version only)

Loans to Executive Officers—Regulation O/General Prohibitions/Executive Officers (page 3 of 3)
We added a reference to an exception to the prohibition against more favorable loans to executive officers. The exception applies if the loan is part of a benefit or compensation program that is widely available to financial institution employees.

National Credit Union Administration Insurance—C-60
(credit union version only)

National Credit Union Administration Insurance/Other Account Categories/
Retirement Plans (page 1 of 2)
Revised text includes a clarification from NCUA that Roth IRAs are within the group of accounts insured as “retirement plans.”

Bank Secrecy Act for Directors and Senior Management—C-134
(credit union version only)

Bank Secrecy Act for Directors and Senior Management/An Overview of the Requirements of the Bank Secrecy Act/Suspicious Activity Reporting (page 2 of 2)
Revised text reflects the new NCUA requirement that credit union management notify the Board of Directors of all Suspicious Activity Report (SAR) filings.

Bank Secrecy Act—B&C-19 and Bank Secrecy Act for Directors and Senior Management B&C-134 (bank and credit union versions)

We enhanced the Bank Secrecy Act course and the Bank Secrecy Act for Directors and Senior Management course with the addition of a new chapter. The new chapter describes the information sharing requirements of Section 314 of the USA PATRIOT Act. These requirements have to do with sharing information with the government and among financial institutions.

Sender’s physical postal address is:
Wolters Kluwer Financial Services
6815 Saukview Drive
St. Cloud, Minnesota 56303