Powers of Attorney & Deposit Accounts: Variations, Permissions, Red Flags, Multiple Signers
On-Demand Webinar:
StreamedJul 6, 2023Duration90 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
How much power does a power of attorney hold?
Is an
attorney-in-fact actually an attorney? What documentation must a POA supply?
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 know when they can be used
- Understand the fiduciary duty owed by the attorney-in-fact and the 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, representative payee, and an authorized or convenience signer on an account
- Understand 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
"The webinar was informative, stayed on topic, the instructor's delivery of the material was easy to follow and clearly understood. All the material covered is applicable for my line of business."
- Canchetta, Carolinas Telco Federal Credit Union
Presented By
Spencer Fane LLP
© 2023 FINANCIAL EDUCATION & DEVELOPMENT, INC
