Course

Course Summary
Credit Type:
Course
ACE ID:
ABAN-0170
Organization:
American Bankers Association
Location:
Online
Length:
16 weeks (45 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Business Law or Business Administration
Description

Objective:

The course objective is to provide a foundation on the business law principles underlying banking law as well as a description of the context for and process of creating banking law and regulations; and understand the basics of business law in order to more easily understand laws pertaining to bank products, services, and transactions.

Learning Outcomes:

  • Identify the customer relationships of individuals, sole proprietorships, and partnerships and a bank's legal obligations and responsibilities when transacting business with these customers
  • Describe how property may be acquired, transferred, and owned and how creditors obtain property interests
  • Describe the requirements of negotiable instruments as defined by Uniform Commercial Code Article 3 and other laws
  • Explain the legal obligations of banks to act responsibly as businesses and in their dealings with customers
  • Explain the legal and legislative sources of U.S. banking law and the judiciary's and regulatory agencies' roles in interpreting the law
  • Describe the major torts and crimes that affect the banking industry
  • Identify the legal entities of corporations, government agencies, limited liability companies, estates, and trusts and a bank's legal obligations and responsibilities when transacting business with these entities
  • Explain how contractual relationships are formed and enforced and the different elements of contracts
  • Describe the parties and their rights in the transfer of negotiable instruments and the legal responsibilities of banks in collections and returns as governed by the Universal Commercial Code (UCC) and federal regulation

General Topics:

  • Introduction to law and banking
  • Torts and crimes
  • Individuals, sole proprietorships, agencies, and partnerships
  • Corporations, LLCs, government agencies, estates, and trusts
  • Contracts
  • Property
  • Negotiable instruments
  • Collections and returns
  • Corporate responsibility
Instruction & Assessment

Instructional Strategies:

  • Case Studies
  • Computer Based Training
  • Discussion

Methods of Assessment:

  • Case Studies
  • Examinations
  • Quizzes

Minimum Passing Score:

70%
Supplemental Materials