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2017 Account Documentation Series

A series of 6 webinars for those who open, change, close, or oversee accounts!

Note: If you are interested in live webinars or other registration options, please call 406.442.2585.

Staff who assist accountholders and open, close, and manage accounts must master many areas: from understanding multiple account types and titles (both consumer and business) to being versed in the proper identification, documentation, signing authority, and access for each. It is critical to have an awareness of the account owners’ rights and responsibilities, while being mindful of compliance requirements to protect the institution and satisfy examiner concerns. This series will address all these areas from due diligence at account opening – both in person and online – to the more complex issues of powers-of-attorney and nonresident alien and minor accounts. Closing and changing deposit accounts for consumers and businesses will also be addressed.

By signing up for the entire series, you will receive 6 webinars for the price of 5. Those seeking the most comprehensive knowledge may attend all sessions or individual webinars may be selected according to training needs. This series is a must for everyone who opens new accounts, as well as supervisors and trainers.

Account Documentation Series Topics

Session Dates & Descriptions

12:00 pm – 1:30 pm Pacific
1:00 pm – 2:30 pm Mountain
2:00 pm – 3:30 pm Central
3:00 pm – 4:30 pm Eastern

Click on presenters’ names below for more information.

January 12, 2017
Compliance & Due Diligence at Account Opening

Mary-Lou Heighes, Compliance Plus, Inc.

From identifying accountholders to providing proper disclosures, the process of opening accounts is riddled with regulatory requirements. This webinar will address the requirements in-depth, including identifying parties to the account for both BSA and identity theft purposes; ensuring you have enough information to determine the normal and expected account activity; providing proper disclosures for Truth in Savings, Regulation CC (check holds), Regulation D (limitations on transactions), Regulation E (debit/ATM cards, home banking, bill payer, etc.); and contractual items, such as remote deposit capture and business accounts. Knowing the rules and timing requirements and why they must be followed will make your account-opening process run smoothly plus minimize liability and risk.

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March 21, 2017
Opening Deposit Accounts Online: Rules, Risks & Best Practices

Susan Costonis, Compliance Consulting and Training for Financial Institutions

Electronic banking continues to evolve, and financial institutions must work hard to keep pace with technology, regulatory requirements, and cyber-security challenges. Recent surveys indicate that 51% of U.S. adults use an online banking application. This fast-paced session will cover the required disclosures for opening deposit accounts, E-SIGN compliance, due diligence for CIP under the Bank Secrecy Act, and best practices for opening deposit accounts online. This session will include a review of the six-step process for consumer consent and common challenges with deposit account opening procedures.

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May 24, 2017
Nonresident Alien Accounts: Opening, Tax ID Numbers, IRS Issues & More

Dawn Kincaid, Brode Consulting Services, Inc.

Examiners consider nonresident alien (NRA) accounts to be high risk. Staff members are expected to be confident when identifying, documenting, and managing related procedures. This webinar will take the guesswork out of NRA accounts. It will include effective identification steps, how to conduct enhanced due diligence at account opening, and monitoring compliance, as well as important insight into proper tax reporting of NRA accounts and relevant hot topics. Join us for this comprehensive look at NRA account administration.

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July 11, 2017
Closing or Changing Deposit Accounts for Consumers & Businesses

Susan Costonis, Compliance Consulting and Training for Financial Institutions

Financial institutions routinely open deposit accounts for consumers and businesses and the rules for providing account disclosures, deposit agreements, and signature cards are well established. However, the legal and compliance issues involved with closing accounts are often more complicated. Why? Because there are situations ranging from accountholder death, suspected fraud or money laundering, disputes between account owners, and requests to levy funds. This session will address two focal areas. First will be the challenges of closing or changing consumer accounts. Second will be specific complexities regarding various ownership categories of business deposit accounts.

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September 13, 2017
Minor Accounts: Ownership, Documentation & Access

Susan Costonis, Compliance Consulting and Training for Financial Institutions

In today’s competitive environment, financial institutions must develop deposit products that cover a broad spectrum of interests and ages. This session will cover the three critical areas for opening minor accounts: 1) understanding how funds are owned, 2) how account opening documents should be executed, and 3) how access to the funds should be controlled during the life of the account. Many states have established laws for defining the legal ownership of accounts for minors, such as UTMA or UGMA (Uniform Transfers to Minors Act or Uniform Gifts to Minors Act). Although state statutes will not be covered, this session will address key challenges and offer practical solutions for opening minor accounts.

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November 14, 2017
Accepting Powers-of-Attorney on Deposit Accounts

Elizabeth Fast, Spencer Fane LLP

Powers-of-attorney are complex legal documents used to transact business with financial institutions on a daily basis. If not handled properly, your institution can be exposed to significant risk if the attorney-in-fact intentionally (or innocently) acts outside the scope of his or her authority. This webinar will explain everything you need to know about attorneys-in-fact regarding deposit accounts. Join us to learn the actions an attorney-in-fact can and cannot take on behalf of your accountholder and how your institution can reduce its risk of loss.

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Note: If you are interested in live webinars or other registration options, please call 406.442.2585.