Regulation Z Resource Center Helps Financial Institutions Meet TILA Compliance Requirements

MINNEAPOLIS--(EON: Enhanced Online News)--To help U.S. financial institutions comply with on-going Truth-in-Lending Act (TILA) changes, Wolters Kluwer Financial Services has launched its Regulation Z Resource Center. The Web site provides institutions with practical information that will help them address new and existing mortgage loan and credit card compliance requirements under Regulation Z. The Federal Reserve Board uses the regulation to implement TILA.

“Financial institutions will experience an enormous amount of regulatory change in 2010”

By visiting www.WoltersKluwerFS.com/RegZ, institutions can access articles and other information that clearly explain revisions to the regulation that will take effect in the first half of 2010. These include changes to escrow account, credit card, and consumer open-end lending disclosure requirements. Institutions can also learn more about upcoming Regulation Z changes that do not yet have a mandatory compliance date. And they can find out more about all requirements currently in effect such as those surrounding higher-priced mortgages.

Several products and services that can help lenders quickly begin meeting Regulation Z requirements are available separately through the Web site as well. One of these is Wolters Kluwer Financial Services’ new Escrow Tool Kit. The tool kit can help institutions prepare for the higher-priced mortgage loan escrow changes that take effect on April 1, 2010. It includes a recorded Webinar that can be used to educate an institution’s staff on the changes; policies and procedures documentation; an implementation guide; and an educational brochure to help borrowers understand the new requirements.

“Financial institutions will experience an enormous amount of regulatory change in 2010,” said Lisa Fraga, vice president and general manager of Banking for Wolters Kluwer Financial Services. “We’ve created a number of online resource centers over the past several years centered on helping them understand and address such changes as rapidly as possible. We’ll continue to do that so institutions can instead focus more of their efforts on growing their business and better serving their customers and members.”

About Wolters Kluwer Financial Services

Wolters Kluwer Financial Services provides best-in-class compliance, content, and technology solutions and services that help financial organizations manage risk and improve efficiency and effectiveness across their enterprise. The organization’s prominent brands include Bankers Systems, VMP® Mortgage Solutions, PCi, AppOne®, GainsKeeper®, Capital Changes, NILS, AuthenticWeb™ and Uniform Forms™. Wolters Kluwer Financial Services is part of Wolters Kluwer, a leading global information services and publishing company with annual revenues of (2008) €3.4 billion ($4.9 billion) and approximately 20,000 employees worldwide. Please visit our Web site for more information.