News » What's New on Digital University
What's New is organized into three groups of announcements:
New Courses
- Protecting Information and Social Engineering - 01/30/2013
This new course is brought to you by popular demand. Information confidentiality is a theme of numerous regulations including Gramm-Leach-Bliley’s, Regulation P and the Right to Financial Privacy Act. Identity theft is one of today’s most common crimes.
This course describes how financial institutions can protect themselves and their customers from acts of social engineering. Key objectives:
- Explain social engineering and the many techniques used.
- Describe which employees are most vulnerable to social engineering
- Describe the social and psychological techniques used
- Explain the most common hacker techniques
- Consumer Financial Protection Bureau - 01/29/2013
The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act) established the Consumer Financial Protection Bureau. The central mission of the CFPB is to make markets for consumer financial products and services work for Americans.
This course describes the CFPB, its operating units and rule making process. Key objectives:
- Describe the function and structure of the CFPB
- Describe the CFPB complaint unit and its database
- Explain the CFPB’s rule making process
- List the types of financial products and services that come under the CPFB jurisdiction
- Professional Teller Series: Cross Selling - The Right Thing to Do for Your Customers - 09/27/2012
Cross-Selling is being reshaped in the financial institution sphere as the act of stewardship. In the past, people tended to think of "Sales" and "Service" as two independent functions. What successful financial depository institutions are discovering is that you need to think "Sales and Service." When combined, these two concepts can work hand-in-hand and provide an outcome in which both the firm and the customer benefit. Makes sales and service part of your firm's culture.
Our course on Cross-Selling Financial Products is designed to help all levels of salespeople develop a mindset, sales strategy and technique to build long lasting client relationships:
- Identify the cross selling do's and don'ts that will lead you to stronger and more successful relationships.
- Describe the techniques used in successful cross-selling
- Develop a strategy and a plan to succeed at cross selling
- Provide sample dialogues for successful cross-selling
- Bank Secrecy Act for Mortgage Bankers and Brokers (RMLOs) - 08/24/2012
Residential mortgage lenders should take note of August 2012 deadline for compliance with the new anti-money laundering (AML) and suspicious activity report (SAR) final rule is fast approaching. Our new course, Bank Secrecy Act for Mortgage Bankers and Brokers (RMLOs) will help your firm stay in compliance with the rule. It describes the requirements for residential loan mortgage lenders and originators (RMLOs) relating to the regulations for money laundering and the Bank Secrecy Act.
- Bank Secrecy Act for Mortgage Bankers and Brokers (RMLOs) - 06/21/2012
The Financial Crimes Enforcement Network (FinCEN) issued a rule in 2012 requiring non-bank residential mortgage lenders and originators (RMLOs), primarily mortgage banks and brokers, to establish a written anti-money (AML) program and file suspicious activity reports (SARs) on suspicious or potential illegal activities.
Non-bank residential mortgage lenders (RMLO) and originators are a subset of loan and finance companies which are considered "financial institutions" under the BSA.
Course Objectives:
- Describe the obligations of residential mortgage lenders and originators (RMLOs) under the BSA
- Describe the required components of a anti-money laundering program for RMLOs
- Explain the Suspicious Activity Report filing requirements
- Discuss both mortgage lending and personal identification Red Flags
- Homeowners Protection Act of 1998 - PMI Act - 04/19/2012
We have heard that some examiners focus on training related to private mortgage insurance. They check to determine if training on the Homeowners Protection Act of 1998 (PMI Act) is being required for employees involved in mortgage servicing.
As a result, we have completed a new course on the topic. The course covers:
- The primary provisions of the PMI Act.
- The types of loans covered by the PMI Act
- Explanations of borrower requested, automatic and final termination procedures.
PMI Act disclosures including initial, annual, final and lender-paid mortgage insurance.
- New Refresher Courses Released - 02/16/2012
Our popular library of shorter "refresher" courses has grown to meet the compliance needs of our customers. They were designed to meet two objectives:
- Provide a quick refresher for seasoned employees who know the material
- Provide an overview for employees who don't require in-depth knowledge of a subject matter
You will find this series of mini-courses in the course catalog. Click the "Subject" tab and then the "Refresher Courses" link.
We have released two key mini-courses in a refresher format:
Identity Theft Red Flags Programs - Refresher
This course describes the purpose of identity theft Red Flag programs and the reasons they are so important. The course also explains the primary types of identity theft Red Flags to look out for.Expedited Funds Availability - Reg. CC Refresher
This course provides a short overview of the primary provisions in Regulation CC dealing with expedited funds availability. It emphasizes the provisions dealing with allowable holds on checks.Please let us know if you would like to see any additional subjects in a refresher course format. Your input is important.
- Number of Refresher Courses Grows - 01/11/2012
Our popular library of shorter "refresher" courses has grown to meet the compliance needs of our customers. They were designed to meet two objectives:
- Provide a quick refresher for seasoned employees who know the material
- Provide an overview for employees who don't require in-depth knowledge of a subject matter
Our refresher courses have successfully met both of these goals. You will find this series of mini-courses in the course catalog. Click the "Subject" tab and then the "Refresher Courses" link.
We now have the following:
- Bank Secrecy Act for Management - Refresher Course
- Bank Secrecy Act for Financial Service Professionals - Refresher Course
- Bank Secrecy Act for Tellers - Refresher Course
- Bank Secrecy Act for Lending Personnel - Refresher Course
- Regulation E Error Resolution - Refresher Course
- Bank Secrecy Act for Operations Personnel - Refresher
- Office of Foreign Assets Control Act - Refresher Course
- Safeguarding Customer Information - Refresher Course
- Privacy of Consumer Financial Information (Reg. P) Refresher course
- Understanding the Reg E Initial Disclosure - Refresher Course
- Customer Identification Program - Refresher Course
- Identity Theft Red Flags Programs - Refresher (coming soon)
- Expedited Funds Availability - Reg. CC Refresher (coming soon)
Please let us know if you would like to see any additional subjects in a refresher course format. Your input is important.
- Understanding the Regulation E Initial Disclosure - Refresher Course - 12/02/2011
Course Objectives:
- Describe the background of Regulation E and its purpose
- Understand who is protected by Regulation E
- Describe the products covered and not covered by Reg. E
- Understand the Initial Disclosure
- Regulation E Error Resolution - Refresher Course - 12/02/2011
Course Objectives:
- Describe the background of Regulation E and its purpose
- Understand who is protected by Regulation E
- Describe important error resolution issues
- Understand required documentation
- Understand the error resolution process
- Consumer Leasing Act - Regulation M - 09/27/2011
Several subscribers have asked for a course covering the Consumer Leasing Act (CLA) and Regulation M. The CLA was passed to assure that meaningful and accurate disclosure of lease terms is provided to consumers before entering into a contract. It applies to consumer leases of personal property. The CLA puts limits on balloon payments sometimes due at the end of a lease, and regulates advertising.
- Describes the Consumer Leasing Act and Regulation M
- Explains what a consumer lease is
- Describes open-end and closed-end leases
- Explains the required disclosures for a lease
- New Refresher Course: Safeguarding Customer Information - 09/27/2011
Earlier this year we developed a series of mini refresher courses on compliance topics. We have received excellent feedback from customers who expressed they like the key compliance topics in a mini format suitable for seasoned staff in need of a quick refresher. Most of these refresher courses can be completed in 30 minutes or less. They offer a time saving alternative option for your employees.
Our recent addition, Safeguarding Customer Information - Refresher Course covers issues of customer information privacy and identity theft. Its objectives are to:
- Explain the objectives of Safeguarding Customer Information.
- Describe the main elements of a financial institution's program.
- Describe customer's personal, nonpublic information.
- Provide examples of unauthorized access to protected information.
- Explain steps your financial institution can take to protect its customer's information.
You will find this series of mini-courses in the course catalog. Click the "Subject" tab and then the "Refresher Courses" link. Please let us know if you would like to see any additional subjects in a refresher course format. Your feedback is important and helps us improve.
- Overdraft Protection Guidelines and Regulations - 08/19/2011
It seems the overdraft concerns of regulators will not go away. The FDIC issues supervisory recommendations concerning overdrafts that supplement previous guidance offered by other financial regulators. The course is designed for all employees who deal with customer deposit accounts and service.
The objectives of this new course are:
- Explains the primary regulations that affect overdraft programs
- Describes the responsibilities of management related to overdraft programs
- Describes the elements of a good overdraft program
- Explains several overdraft protections
- Describes appropriate consumer notification strategies
- Bank Secrecy Act - New edition release - 07/06/2011
Our most popular compliance course, Bank Secrecy Act, gets a makeover. The biggest update is the new SAR-DI (Suspicious Activity Report) form released in March 2011 by FinCEN. The new form is required by September 30, 2011.
We're also taking this opportunity to make the content more concise and understandable for all employees who take this very important course. The new version with streamlined content replaces the prior edition with same level of exam difficulty. We hope you and your employees benefit from this recently updated edition of our Bank Secrecy Act course.
- New name, New URL, Same Great Training - 04/11/2011
As communicated in a joint letter dated March 11, 2011. We (Digital University, Inc.) are no longer partnering with the Credit Union Executives Society for marketing, branding or invoicing as of March 15, 2011. The following provides updated information and reminders going forward concerning your online university subscription.- Beginning April 16, 2011, you will need to access your online university at our new name (CU Digitu) and web address cudigitu.com. Please remember to change your bookmarks.
- No other actions are necessary. Your service, courses, login and data will remain unchanged.
- Digital University has always been your online training provider and continues to serve you. We are delighted to continue bringing your Credit Union the premiere online training!
- New Refresher Courses Available - 12/06/2010
We now offer shorter, refresher courses for employees who have mastered a regulation but need a refresher. The course Privacy of Consumer Financial Information (Reg. P) Refresher course is now available.
This course is written in the employee-client dialog style. We would like your opinion about the value of this course and if you feel we should develop more in the future. This course's objectives include:
- Explaining Reg. P
- Describing privacy disclosures
- Explaining nonpublic personal information
- Showing how to opt in and opt out
- Explaining how to protect private information
- Remote Deposit Capture
This new course is designed to provide front-line employees with a description of how the remote deposit capture service works and its relationship to Check 21. It also describes the benefits and risks involved in the process.
- Protecting Information and Social Engineering - 01/30/2013
Course Updates
The following courses have been updated to reflect annual changes in rates, limits, triggers, and other data:
- Course Updates Completed 2013 - 01/28/2013
- Office of Foreign Assets Control (OFAC)
- Truth in Lending for Loans Secured by Real Estate – Regulation Z
- Bank Secrecy Act
- Community Reinvestment Act – Regulation BB
- Home Mortgages and the Mortgage Market
- Residential Mortgage Banking Functions
- Health Savings Accounts
- Individual Retirement Accounts: Traditional IRAs
- Individual Retirement Accounts: Roth IRAs
- Consumer Leases – Regulation M
- Uniform Residential Loan Application
- Understanding Compliance Regulations – PT
- Expedited Funds Availability – Reg. CC – Refresher Course
- Deposit Operations Regulations
- Unfair, Deceptive or Abusive Acts and Practices (FTC, Reg. AA, CFPB) - 06/21/2012
There has been an expansion of the regulations and examination procedures related to unfair, deceptive and abusive acts and practices. The Dodd-Frank Act expanded the USAAP by adding "abusive" and created a new regulator, the Consumer Financial Protection Bureau (CFPB).
As a result the CFPB joins the Federal Trade Commission and The Federal Reserve Board's Regulation AA in addressing these practices. The course also explains the recent implementation of special rules related to credit cards issued by the Federal Reserve.
This course main objectives are to:
- Explain what constitutes an unfair, deceptive and abusive acts and practice
- Explain deceptive and abusive acts
- Describe Regulation AA
- Explain unfair credit card practices
- Bank Secrecy Act - New SAR and CTR forms - 05/17/2012
We have made course revisions to our Bank Secrecy Act course. These updates include new forms CTR and SAR E-Filings.
The Financial Crimes Enforcement Network (FinCEN) is mandating electronic filing of the Currency Transaction Report (CTR) Form and Suspicious Activity Report (SAR) Form into FinCEN's BSA E-Filing System this year.
As a result, we are updating our Bank Secrecy Act course to profile the new CTR and SAR E-Filing forms. FinCEN has mandated electronic filing of most reports through the BSA E-Filing System, beginning July 1, 2012. The BSA E-Filing System will continue to accept submissions of the legacy reports until March 31, 2013.
According to FinCEN, the new CTR and SAR forms do not create any new obligations or otherwise change existing statutory and regulatory expectations of financial institution. However, many personnel will need guidance to meet the new procedures.
- Bank Secrecy Act - new topics added - 11/16/2011
We have added several topics to our regulator Bank Secrecy Act course. These topics have been identified by several field examiners. Even though they apply to few employees, we felt it important to include them. The new material covers:
- International Transportation of Currency or Monetary Instruments Reporting: Each person (including a bank) who physically transports, mails, or ships currency or monetary instruments in excess of $10,000 at one time out of or into the United States (and each person who causes such transportation, mailing, or shipment) must file a Report of International Transportation of Currency or Monetary Instruments (CMIR), i.e., FinCEN Form 105.
- Report of Foreign Bank and Financial Accounts (F-BAR): The Bank Secrecy Act requires certain people to report a financial institution account yearly to the Internal Revenue Service by filing Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (F-BAR).
- Information Sharing - Section 314 (a) Requests: A federal, state, local, or foreign law enforcement agency investigating terrorist activity or money laundering may request that FinCEN solicit, on its behalf, certain information from a financial institution or a group of financial institutions. This is known as Information Sharing Between Law Enforcement and Financial Institutions - Section 314(a) request.
- New Conforming Loan Limits - 08/19/2011
The American Recovery and Reinvestment Act of 2009 and several extensions, beginning January 1, 2009 through September 30, 2011, increased the limits up to $729,750 for a one-unit dwelling in designated high-cost areas. Loans originated on or after October 1, 2011, will use the "permanent" high-cost area loan limits established by FHFA under a formula of 115% of the 2010 median home price, up to a maximum of $625,500 for a 1-unit property in the continental United States.
Our courses, Mortgages and the Mortgage Market and Residential Mortgage Banking Functions have both been revised to reflect these changes.
- Course Updates for July, 2011
Note that due to the new SAR-DI (Suspicious Activity Report) form, several of our courses now include the most current SAR form. The courses are:
- Bank Secrecy Act for Financial Service Professionals - (Refresher course)
- Bank Secrecy Act for Lending Employees - (Refresher course)
- Understanding Compliance Regulations - (Professional Teller series)
- Deposit Operations Regulations - 12/17/2010
- Individual Retirement Accounts: Traditional IRAs - 12/17/2010
- Coverdell Education Savings Accounts - 12/16/2010
- Health Savings Accounts - 12/15/2010
- Home Mortgage and the Mortgage Market - 12/15/2010
- Individual Retirement Accounts: Roth IRAs - 12/15/2010
- Commercial Banks: An Introduction - 12/15/2010
- Truth in Lending for Loan Secured by Real Estate-Regulation Z (including HOEPA) - 12/14/2010
- Community Reinvestment Act - Regulation BB - 12/13/2010
- Federal Reserve and Monetary Policy - 12/09/2010
- Office of Foreign Assets Control (OFAC) - 12/09/2010
- Residential Mortgage Banking Functions - 12/09/2010
- Expedited Funds Availability-Regulation CC - 10/11/2010
Updated to reflect non-local checks elimination - Fair Credit Reporting Act (FACT Act) - 10/11/2010
This course has been revised to describe the new disclosure requirements, which go into effect January 1, 2011. Most firms will want to implement the new requirements before that date. The course includes information on the model forms suggested by the Federal Reserve. - Deposit Operations Regulations - 07/06/2010
Our course, Deposit Operations Regulations, has been expanded to include relevant material on NOW accounts. Regulation D defines the types of deposits: demand deposits, savings accounts, and NOW accounts. The latter has many restrictions and financial institutions are responsible for documenting the entities' eligibility. The main NOW account provision states, any for-profit organization (corporation, partnership, LLC, etc.) is not eligible for a NOW account. - Check Clearing and Electronic Payment Systems (updated to reflect non-local checks)
- Course Updates Completed 2013 - 01/28/2013
New and Expanded Features
- Digital University partners with OnCourse Learning for future growth - 11/12/2012
Dear Customer,
We are excited to inform you that Digital University has been acquired by OnCourse Learning, the nation’s leader in professional education and compliance solutions for individuals, companies, educators, financial institutions and government agencies. Digital University will join the existing brands of OnCourse Learning and will help expand our financial service offerings.
While any change can bring uncertainty, I want to assure you that everything you have come to count on from Digital University will continue uninterrupted. The Digital University team that you have been working with over the years will remain, but now with support and access to the full resources of OnCourse Learning. These resources will enable Digital University to expand its product offering, enhance its technology and serve you in new and better ways.
As a Digital University customer, you can expect it to be business as usual after today. You can continue using Digital University’s services and expect the same level of excellence and support as you always have for your training and compliance solutions.
We are very excited to welcome you and Digital University to the OnCourse Learning family and want to thank you for your continued loyalty, trust and business. If you have any questions about the acquisition or your services going forward, please feel free to contact your representatives at Digital University at (888)201-4394 or info@digitu.com and we will be glad to help.
Sincerely,
Patrick Sheahan
President & Chief Executive Officer
OnCourse Learning
- The New Digital University Blog - 10/01/2012
blog.digitu.com provides a one-stop shop for all of our updates. Check it out and sign up to receive updates via email or social media today!
- Online Financial Management Picks Up Steam - 11/01/2012
Regulators demand that financial institution employees know their stuff when it comes to personal finance. We can help. Consider taking advantage of our personal finance education for your employees to help them cross sell your institution's financial products. Provide the tools they need to grow their nest egg, save smart for college, set budget, and plan ahead.
Our personal finance package is also important for retirement planning or 401K programs. Institutions with 401k programs should be aware of the need to educate employees. This suite of over 20 courses can be added to any subscriber's catalog for a small additional fee.
Read a case study showing how we can help strengthen your sales. Contact us for a personalized quote to add the Personal Finance Suite to your training: 888-201-4394 ext.1 or info@digitu.com
- Digital University, Inc. in the News - 11/01/2012
Digital University was recently featured in the media. The industry-wide case study demonstrated how cost effective our program has been for the financial institution compliance, job skill training and employee development. The sheer volume of regulations call for a disciplined training approach and virtual training is the most efficient and automated way to provide compliance training for the entire organization.
Digital University was mentioned very favorably for being cost effective. One of the training professionals interviewed stated that our price was about 1/3 below others. This 50-employee financial institution "...pays about $2,800 to access Digital University's software offering. Some other vendors quoted...prices that were three times higher" according to the source*.
"The key is to have a combination of outsourced and internal training." Digital University provides a one-stop shop for content training, learning management and tools to roll up any internal training your organization hosts. Our new instructor-led training tool is excellent for managing classroom-based training workshops with tracking and administration within our learning management system.
*Source: American Banker, October 3, 2012. American Banker - NEW: Training Calendar - 09/27/2012
All current Plus and Pro subscribers can enjoy our newest enhancement, a training calendar for your staff.
A visual display of training assignments, the calendar will help your employees stay organized and manage their completed courses and those yet to be taken.
- View assigned learning plans by course due date
- View any optional instructor-led training
- Browse by month, week or day
- Integrates with instructor-led training (ILT) and populates available ILT sessions directly on the calendar
- Click on the calendar, select a course, enroll and start training
With your Plus or Pro subscription, you can enjoy this value-added tool without paying extra.
Digitu Basic customers can also enjoy this new feature with an easy upgrade to Plus or Pro. Ask us for the details and custom quote: info@digitu.com or call: 888-201-4394 ext.1
- Our latest PlusLMS release is online - 06/21/2012
The latest build of PlusLMS, known internally here as 'Tahiti Patch' was released recently and if you are a Plus or Pro subscriber you are now using this release. Why do you care? Well, you don't need to since we take care of it for you. However, if you are wondering if one of those little wishes you sent us feedback about was granted, it probably is... Have you encountered a need to set due dates on a specific ILT course assignment? This is now available as part of the latest release.
The release notes for Tahiti with details of all the fixes and changes can be downloaded.
- Instructor Led Training (ILT) - Centralize All of Your Training on our PlusLMS - 02/16/2012
The recent release of our new feature: Instructor Led Training (ILT) offers a one-stop solution to scheduling all classroom training within your organization directly within your administration console on PlusLMS. With the Integrated ILT solution, our learning management system now allows a traditional live face-to-face learning model adapted for our platform. Even better news...it is already included in your current PLUS or PRO service.
With Instructor Led Training on PlusLMS you can:
- Manage your classroom-based training from your administrator view
- Roll up all your training schedules (not only courses we provide but also your in-house training events) from one central LMS location
- Manage training venues (physical locations) directly with your admin login
- Create sessions for reoccurring training seminars with a click of a mouse
- Identify instructors assigned to lead a face-to-face workshop
- Student enrollment in an ILT session is a breeze
- Print out an up-to-minute roster of registered staff
- Easy to use gradebook tool makes granting credit a snap
- Automate tracking of all in-house workshops/seminars/conferences with our unified reporting options
We invite you to
download a PDF quick guide on ILT features.Or, watch an audio/video tutorial on our new ILT features.
Let us help you optimize the Instructor Led Training integration within PlusLMS administration. Ask us for a customized tour to make your administrative tasks events simpler than ever before.
- Updated and enhanced interactivity in our courses - 08/19/2011
With Digital University your staff can enjoy plenty of interactivity to stimulate learning, improve retention and make training fun. During the summer, we rolled out new interactive tools. We hope you and your staff will enjoy viewing them. Keep in mind they are not required to pass a course. Check out the flash videos in these courses:
- Bank Secrecy Act
- Privacy of Consumer Financial Information (Reg. P)
- Check Fraud
- Truth in Savings - Regulation DD
- Negotiable Instruments and Endorsements
- Check Kiting
- Identity Theft
- Money Laundering
- Safeguarding Customer Information - Gramm-Leach-Bliley - What Is Pretext Calling?
- Consumer Credit Lending Practices
- Financial Institutions Regulation
- Cross-selling Financial Products
- What Is Home Banking?
- Office of Foreign Control Compliance
- Personal Finance Education for your staff - 07/06/2011
Strengthen your sales culture with a new suite of Personal Finance courses. A successful cross-selling program is based on matching products to your members' needs. Your frontline sales people are supposed to be personal finance experts. Too often this is not the case. With our Personal Finance library of courses, you can now train your key sales staff in a few months to be competent prospectors for cross-selling opportunities
Review a return on investment example here.
Our Personal Finance course library is a powerful employee benefit that gives your staff vital financial knowledge to retirement planning and investing. These tools yield improved staff retention, greater job satisfaction and productivity. Be sure to follow the page for more information.
Contact us for a personalized quote to add the Personal Finance Suite to your training: 888-201-4394 ext.1
- Adobe Reader X issue with PDF certificates fixed - 03/02/2011
Adobe has released the Reader/Acrobat X 10.0.1 update which fixes an issue in which our PDF certificates failed to display. The newest version of Adobe Reader can be downloaded here - More Interactive Learning Exercises
We have been developing the new interactive learning exercises that stimulate learning and enhance material retention. Our customers have advised that these learning aids are in demand and very popular with their staff. We have an extensive library already in place and have been expanding it even more. Look out for new interactive features in the courses offered with Digital University.
The most popular interactive learning exercises are:
- Crossword puzzles
- Fill-in-the-blank exercise
- Self-test essay questions
- Matching games
All with a new look and movie-like presentation using the latest design technologies.
- Digital University partners with OnCourse Learning for future growth - 11/12/2012