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CFT
Webinars are purely educational. Instructors are not permitted to sell any
products or services during the presentation.
Program
Content:
Today,
someone you have never met walks in with a power of attorney and demands to
be added to your customer’s accounts—a customer with hundreds of thousands
of dollars with your bank. Your customer is elderly and has no children.
Immediately, your mind jumps to thoughts of fraud and protecting your
customer as you scramble to figure out what to do. This is when well
written and thought out power of attorney procedures for your financial
institution can keep you out of litigation and liability. We don’t want to
have to decide what to do in each case. We need to know our institution’s
procedures to protect the bank and the customer and begin to work those
procedures so that we follow state law, our internal procedures, and our
signature card contract. This program will look at power of attorney “dos
and don’ts” and how to prevent your institution from making costly mistakes
in handling these high-risk documents. We will also provide you with some
guidance about what procedures you should have in place for handling POAs.
As a bonus, you will receive a chart with your state law link and key
components for your state’s POA statute.
Covered
Topics:
- Types of Power of Attorneys—Springing, durable,
specific, military and other types of POAs
- CFPB guidelines for POAs
- Specific types of power of attorneys on treasury
checks
- State law issues on power of attorneys: Affidavits
for Power of Attorneys, POAs accepting the job and recording of the
Power of Attorney
- Durable versus nondurable power of attorneys—what
is the risk?
- Can you have a POAs on trusts, businesses, UTMA,
Social Security Accounts, IRAs and other fiduciary relationships
- What can a power of attorney do? Can a power of
attorney make a loan? Open a safe deposit box? Sign a signature card?
Remove an authorized signer?
- What happens when a POA tries to benefit his or
herself such as naming his or herself as Joint WROS, or POD beneficiary?
- When a conservator is named by the court, does it
bump a POA?
- How should power of attorneys endorse checks?
- Who do you run your Customer Identification Program
on? Owner or Power of attorney?
- Can the financial institution set rules for power
of attorneys and when should that be done?
- And much, much more…
Who
Should Attend?:
This
informative session is designed for new customer representatives, customer
service representatives, deposit operations, tellers, branch managers and
anyone who opens or manages deposit account relationships. Please forward email to appropriate
person(s).
Instructor:
Deborah
Crawford is the President of
Gettechnical Inc., a Virginia based training company. She specializes in
the deposit side of the financial institution and is an instructor on IRAs,
BSA, Deposit Regulations and opening account procedures. She was formerly
with Hibernia National Bank (now Capital One) and has bachelor's and
master's degrees from Louisiana State University. She has 30+ years of combined
teaching and banking experience.
What
Is A Webinar?:
A
webinar combines the clarity of an audio teleconference with the
interactivity and visual presentation of the internet. All you need to
participate is a telephone and an internet connection. Even if you don't
have an internet connection, you can still participate in the audio
session. Listening to the program over the telephone and following the
written materials is an effective alternative!
Unable
To Attend?:
No
problem. You can purchase a recording of the webinar for future use. You
can choose from either an On-Demand Web Link (Good for 6 months from the
webinar date, unlimited use) or a CD-ROM (includes a paper copy of the
PowerPoint slides).
Viewing
Options (all options include applicable handouts):
All
options include applicable handouts. You can choose to pay by credit card
or be billed. Additional Live Webinar connections are $75 each.
Option 1: Live
Webinar and 7 Days OnDemand Video Playback - $265
Option 2:
OnDemand Video (six months access) - $295
Option 3: Live
and 6 Months of OnDemand Video - $365
Option 4: CD-ROM
Video (Includes OnDemand Video) - $345
Option 5: Entire
Package (all of the above) - $395
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