Business Deposit Account Documentation and Requirements

Thursday, Mar 23, 2017 at 9:00AM - 12:00PM

Event Details

Business account signature cards and resolutions often time are approached with some confusion over distinguishing between types of entities, authorities on the account and required documentation that a financial institution is required to obtain during the account opening process. This session will provide a legal and compliance perspective of a financial institutions responsibilities in gathering such documents during the account opening process.

Objectives Of The Presentation
  • When small favors for customers can result in liability for the financial institution
  • Why you cannot give money to someone who has not signed the signature card
  • Why checks have to match accounts
  • When must you retype the signature card and when can is it acceptable to make small changes
  • When does it matter which disclosures you make on new accounts?
  • Typos, whiteout, initialing and other issues that can cause your financial institution to suffer damages
  • The impact of lack of signatures on your cards and how that affects FDIC insurance coverage
  • When failure to read and comply with the signature card contract can be significant-closing accounts, rights of offset, and other issues
  • How to set up signers, powers of attorney and other important fiduciary relationships so you won't confuse ownership
  • Common errors on ownership types and how that can create big problems for the accounts of deceased depositors
  • Account stylings and taxpayer identification numbers-at $50 per error, how many can you afford?
Why Should you Attend
Very often the simplest error or typo on an account signature card can create legal ownership, insurance and access issues for your account holder. If you add notes to the cards or add signers after the fact, you may create liability for your financial institution. When you open accounts, you are tempted to accommodate the account holder's wishes in ways that may lead to liability for your financial institution.

The practical tips and best practices you will learn in this webinar may save your financial institution thousands of dollars. These 11 fundamental rules will keep your officers and your account representatives from creating liability and future losses on the deposit side of your organization.

Who will Benefit
  • Tellers
  • Account Managers
  • Operations
  • Personal Bankers
  • Compliance Officers
  • BSA / AML Officers
For Registration

Note: Use Promo code PTY2D and get 10% off on registration (Valid till MARCH 31st 2017)

Organization Details

Online Compliance Panel (OCP) creates and delivers comprehensive industry relevant training sessions. These sessions are simple, interactive and cost effective. We are a predominantly web based information exchange forum. Live interactions on compliance training make the process holistic and effective. OCP largely emphasizes in offering regulatory compliance training to compliance professionals on varied topics. These primarily include risk management, quality management, corporate compliance and other regulatory compliances. Some of our primary areas of focus include advancement and updates in regulatory compliance, best practices and market trends.

We strive to incorporate high standards in developing a culture facilitating exchange of ideas resulting in functional excellence. OCP believes in nurturing ideas and thought processes through innovative e-learning methodologies. Our products and services are designed to offer customized solutions to industry and market. We bridge the gap between experience and knowledge thus delivering original and creative content.

Our objectives of employing interactive mediums ensure effective communication and mutual exchange of ideas. OCP closely follows best practices and regulatory trends in the global compliance scenario. We also observe and communicate trends witnessed in FDA, ISO regulations, process and design validation. All updates and additions to important laws can be accessed by our customers in real time.

Our mission is to empower compliance professionals through effective online training sessions. Our world class training methodologies stem from comprehensive understanding of client requirements. The content conforming to FDA and ISO standards is developed by well qualified and experienced industry leaders. Our offerings will exceed expectations and add value to your investment.

The content in various categories such as medical devices, pharmaceuticals and biotechnology will raise the bar in terms of quality already on offer .We hope to contribute to the creation of responsible organizations creating benchmarks in quality, integrity and transparency.

Online Event
38780 Tyson Lane, Apt 210
Fremont 94536

Starts March 23, 2017 at 9:00AM - 12:00PM

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Contact Information

Organization: Online Compliance Panel LLC

Event Contact: OCP Panel

Phone: 15108575896