Legal Foundations in Banking

Course Description

As a vital part of the U.S. economy and a necessity for most Americans, the banking industry is subject to extensive regulation, and banking professionals must understand the legal and ethical responsibilities that come with their work. This course introduces learners working toward Modern Banking Representative Certification to the basics of banking law, exploring the agencies that regulate banking in the U.S. and the various federal laws that affect banking professionals' daily operations.

Learning Outcomes

After completing this course, the learner should be able to:

• Outline the responsibilities of the federal agencies that regulate banking in the U.S.
• Summarize federal laws that significantly impact the U.S. banking industry
• Apply principles of ethical conduct in daily banking operations
• Understand the function of appraisals in banking
• Explain the basic structure of a contract and the significance of a breach of contract
• Explain the mechanisms behind checks and other negotiable instruments
• Identify the rights and responsibilities of bank account holders based on the titling of the account in question
• Explain the responsibilities of banks in combating financial crime
• Evaluate the potential impact of operations on a bank's reputation