Inside TRC

We are going to be required to do more TRAINING because scammers are targeting the elderly more than ever! Thanks to technology and the economy, scammers and desperate family members are targeting elders who may have greater assets and may be less “aware”. This increasing problem requires all of us to provide continued training on elder abuse.

Earlier this year, the Financial Crimes Enforcement Network (FinCEN) released a new advisory to help spot and report activities involving elder financial exploitation. The advisory includes red flags that abuse may be occurring and asks financial institutions to use the term “elder financial exploitation” when completing a Suspicious Activity Report (SAR). To view a complete list of red flags, click here.

In addition to FinCEN’s updated advisory, the Consumer Financial Protection Bureau (CFPB) has taken an interest in elder financial abuse. The organization has created the Office of Financial Protection for Older Americans to educate and provide resources to elder customers. Their goal is to help elder customers avoid scams and theft as well as make appropriate financial discussions. You can learn more at http://www.consumerfinance.gov/older-americans.

In response to this problem, TRC Interactive has recently updated three online courses on the subject:

• Elder Financial Abuse for Tellers
• Elder Financial Abuse for CSR’s
• Elder Financial Abuse for Managers

These courses provide bank personnel with the information necessary to spot and report the suspicious activity they may encounter through their role at the bank. Continued training on this subject is essential to protecting elderly customers and ensuring that employees understand the indicators and procedures for this type of financial abuse.

To learn more about the elder financial abuse courses available through TRC Interactive, please contact us at info@trcinteractive.com or (800) 222-9909.

You will need updated and/or new training programs! By studying, educating and enforcing, the new Consumer Financial Protection Bureau (CFPB) aims to improve markets for consumer financial products and services such as loans, mortgages and credit cards. As a result, you’ll find yourself needing to modify existing or create new training programs. The organization is currently awaiting appointment of the first director. In the meantime, CFPB has already started looking for ways to improve the market.

The Bureau recently launched Know Before You Owe, an effort to combine two federally required mortgage disclosures into a single, simpler form that makes the costs and risks of the loan clear and allows consumers to comparison shop. Also, the organization has been reviewing several areas of the consumer market and collaborating with banks and other representatives.

In addition, CFPB is asking the public to provide specific suggestions on streamlining regulations. To voice your opinion, visit http://www.consumerfinance.gov/notice-and-comment/#open. You can also view others’ comments on closed discussions at http://www.consumerfinance.gov/notice-and-comment/#closed.

Although no changes have been set in stone, it is likely that the Bureau’s changes will have significant impacts on training. As the CFPB works to improve current regulations, financial institutions will need to train employees on the updated standards. For instance, if ‘Know Before You Owe’ is successful, personnel will need to be retrained on the updated mortgage disclosures. In addition, CFPB will most likely create new rules and regulations that require new training programs.

The Consumer Financial Protection Bureau was established last year by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. To learn more about the Consumer Financial Protection Bureau, visit www.consumerfinance.gov.

TRC Interactive looks forward to providing you with updates on CFPB and other hot topics. Make sure you are receiving the latest news by contacting us at info@trcinteractive.com or contact your TRC Interactive Sales Consultant at (800) 222-9909 for more information about the CFPB.

First Citizens Bank and TRC Interactive Win Gold
Brandon Hall Best Results of a Learning Program is Announced


Harrisburg, PA, December 7, 2011: TRC Interactive’s multiple award-winning TellerSolutionOnline® and TRC Interactive’s design transaction simulations are at the core of the 2011 Brandon Hall Award, Best Results of a Learning Program which was awarded to First Citizens Bank and TRC Interactive. Using TRC Interactive’s architecture, consulting, as well as TellerSolutionOnline’s extensive eLearning modules, the Teller Essentials Program was developed for First Citizens Bank. Participants are assigned to a First Citizens Coach who provides direction and mentoring. Then, working in the branch, Tellers participate in TRC Interactive’s customized TellerSolutionOnline®, as well as the uniquely customized interactive transaction training simulation.

“First Citizens Bank really enhanced TellerSolutionOnline® and the transaction training simulations” said Jay B. Bowden, TRC Interactive’s Chief Executive Officer and Lead Designer for the project. TellerSolutionOnline® and transaction training eLearning has a huge track record, but with First Citizens Bank the value added through coaching and assessment created an extraordinary synergy.”

For more information about TellerSolutionOnline®, Transaction Training, or to find how TRC Interactive can create any training program, visit www.trcinteractive.com or call
(800)222-9909.

About TRC Interactive:
Since 1973 TRC Interactive has provided training services to financial institutions throughout the U.S.A. One of the most respected training organizations, TRC Interactive is state-of-the-art in not only training, but bank systems, equipment, management problems, needs and personnel. TRC Interactive is the creator and developer of TellerSolutionOnline®, the nation’s leading solution for training new and part-time tellers, as well as BankTrainingOnline® and CreditUnionTrainingOnline®, an extensive online collection of training courses and First Line of Defense™, the premiere fraud detection training tool. To learn more about how TRC Interactive can help you meet your training needs, visit www.trcinteractive.com.

Visit our Training Tips page in our Resource Center for interesting takes on common training pitfalls. There are dozens of Tips for you to browse through and all for FREE! Visit the page here: http://www.trcinteractive.com/resource-center/training-tips.asp.