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CFT
Webinars are purely educational. Instructors are not permitted to sell any
products or services during the presentation.
Program
Content:
"Right
of Setoff" is used frequently in the banking industry when trying to
collect on past-due debts owed by customers. Unfortunately, many bankers
don't understand the legal requirements and procedures necessary to use
this process. The risks of using the process incorrectly can be costly to
your financial institution. On the other hand, successfully using the right
of setoff can protect your financial institution from significant financial
losses.
Do you
know when the right of setoff is allowed and when it isn't? Do you know if
your financial institution has a statutory or contractual right of setoff?
Do you understand the financial risks of using your setoff rights
incorrectly? If you don't know the answers to these questions, make sure to
attend this valuable webinar.
Covered
Topics:
- What are the legal requirements to create a
"right of setoff?"
- What is the difference between a contractual right
of setoff and a statutory right of setoff?
- What are the differences between setoff,
garnishment, and foreclosure of security interest, and why are these
terms frequently misused?
- What happens when a third party is competing with
your financial institution's right of setoff?
- How does the automatic stay in bankruptcy affect
the right of setoff?
- When is the right of setoff absolutely prohibited?
- How to handle notice to the customer?
- What is sample contractual language that can help
your financial institution exercise its setoff rights?
- What are the liabilities that can be incurred when
setoff is done incorrectly?
Who
Should Attend?:
All
loan and deposit personnel, bank counsel and compliance officers. Please forward email to appropriate
person(s).
Instructor:
Terri
D. Thomas
is Senior VP and Legal Department Director for the Kansas Bankers
Association. Prior to this, she was with "Bankers Choice," a
financial consulting firm. Before this, Terri was employed in the financial
industry for over twenty-three years in various capacities. Most notably,
she served for fourteen years as in-house legal counsel and trust officer
for Bank of America and its Kansas predecessors. Receiving her Bachelor of
Arts degree from Kansas State University in 1985, Terri continued her
education at Washburn University School of Law and obtained her Juris
Doctor in 1988.
Currently,
she serves as an adjunct instructor at Washburn University School of Law.
She has previously been an adjunct instructor at the University of Kansas
School of Law, and is a frequent presenter for banking schools and
financial associations.
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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