The USA PATRIOT Act was signed into law in October 2001 in response to the terrorist tragedies of September 11. One of the titles of this act, Title III: International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001, affects financial institutions. Understanding the USA Patriot Act provides students with an overview of the implications of Title III that affect the mortgage lending industry.

This course is divided into two modules and includes case studies. The first module of Understanding the USA PATRIOT Act discusses the implications of the Title III that impact the mortgage lending industry. The second module provides an overview of the joint final rule implementing Section 326 of Title III, which directs banks, savings associations, credit unions, private banks, and trust companies to implement a customer identification program (CIP) as a means to prevent business transactions with entities associated with terrorism.

NOTES:  This is a self-paced, self-study course. Enroll anytime and take up to 8 months to complete the course.