Accepting Powers of Attorney on Deposit Accounts

Compliance Frontline & New Accounts IRA & HSA Deposit Account Compliance

On-Demand Webinar:

StreamedJun 4, 2024Duration90 minutes

Unlimited & shareable access starting two business days after live stream
Available on desktop, mobile & tablet devices 24/7
Take-away toolkit
Ability to download webinar video
Presenter's contact info for questions

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Is an attorney-in-fact actually an attorney?

How much power does a power of attorney have? How many types of POAs are there? What documentation must be supplied? What fiduciary authority is involved? Are there special requirements? What risks are involved? Can you afford to miss this training?

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

Distinguish among the various types of power of attorney (POA) documents (durable, springing, limited, military, etc.) and when they can be used
Understand the attorney-in-fact’s fiduciary duty and what actions they can and cannot take
Identify the red flags that might indicate the attorney-in-fact is exceeding their authority
Explain the difference between an attorney-in-fact, a representative payee, and an authorized or convenience signer on an account
Describe the special requirements regarding joint ownership accounts and trust accounts

WEBINAR DETAILS

Powers of attorney are complex legal documents used on a daily basis to transact business on deposit accounts. If your institution doesn’t handle a specific situation properly, it can be exposed to significant risk if the attorney-in-fact intentionally (or innocently) acts outside the scope of their authority. This webinar will explain everything you need to know when dealing with powers of attorney on deposit accounts and steps you can take to reduce risk.

WHO SHOULD ATTEND?

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

TAKE-AWAY TOOLKIT

Checklist of important questions to ask before accepting a POA on a deposit account
Employee training log
Interactive quiz
PDF of slides and speaker’s contact info for follow-up questions
Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your institution is prohibited. Print materials may be copied for eligible participants only.

TESTIMONIALS

"I have never heard Power of Attorney training as clear and concise as this. I loved the examples provided after explaining a concept or scenario; it really helped me understand! Loved it!"

- Kelly, IQ Credit Union