If you have ever been in a situation where you can't find a particular legal requirement or prohibition and don't know if it is because it doesn't exist or your research is faulty, this webinar is for you. In more than three decades as a banking lawyer, Mary Beth has had her share of experiences with questions about matters that bankers thought were real and were current. The frustrating part is that you can't find something that isn't there, so you keep digging and digging, trying to get to the bottom of it.
Dig no more. This fast-paced program will provide a definitive guide to the urban legends of banking, exploding myths that have been passed down from banker to banker, revealing which obligations never existed and which ones once did but are no longer in force. You may find that you can alter some of your procedures as a result!
The program will bust myths relating to:
- when a check is dead;
- when U.S. Treasury checks must be cashed (and when they don't)
- types of customers erroneously assumed to be high risk from a BSA standpoint
- duties to noncustomer payees
- what reasons are acceptable for stop payments
- size threshold for an estate to need a TIN
- three strikes rules
- illegal safe deposit box contents
- closing limitations for bank offices
- what training actually needs to be annual
- when a notice or disclosure or letter really needs to be sent certified
- SAR "quotas"
- getting a consumer report when an additional owner is being added to an account
- whether GLBA privacy rules prevent you from answering certain questions
- what the laws and rules require you to get customer signatures on - versus what signatures your bank procedures may require
- interest rate differential on a CD-secured loan
- accepting items payable to a dead person
- requiring new signature cards in a variety of circumstances
- the propriety of returning a check "Refer to maker"
- what your options are when a customer's account has been compromised but the customer doesn't want to close the account
- what happens to privacy notions when the bank is the victim
- requiring police reports
- giving reasons for actions, such as closing an account
- verification of SSNs
- providing monthly statements
- what the bank owes the customer if the bank flubs a stop payment
- application of the Fair Credit Reporting Act to matters other than credit
- the belief that "This is the way we've always done it and the examiners have never objected" is a good reason to keep doing something.
Interesting and informative. - nbrechlin
Interesting commentary - training