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Account Documentation Series:
Accepting Powers-of-Attorney on Deposit Accounts

Tuesday, November 14, 2017

10:00 am – 11:30 am HST
12:00 pm – 1:30 pm PT
1:00 pm – 2:30 pm MT
2:00 pm – 3:30 pm CT
3:00 pm – 4:30 pm ET

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.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS

  • Various types of powers-of-attorney (durable, springing, limited, military, etc.) and when they can be used
  • Difference between attorney-in-fact, representative payee, and authorized or convenience signer
  • Actions attorney-in-fact can and cannot take on behalf of the accountholder
  • How to handle joint owners on the account
  • When an attorney-in-fact can act for a trust
  • Common provisions in deposit account agreements that affect the use of powers-of-attorney

  • TAKE-AWAY TOOLKIT
    • Checklist of important questions to ask before accepting a power-of-attorney on a deposit account
    • Sample language to use in documents when accepting a power-of-attorney
    • Employee training log
    • Quiz you can administer to measure staff learning and a separate answer key

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WHO SHOULD ATTEND?

This informative session will be useful to deposit operations personnel, deposit officers, new accounts staff, tellers, attorneys, compliance personnel, auditors, and managers.

PLEASE NOTE: Program content is subject to copyright and intended for your individual financial institution’s use only.

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