Safe Deposit Box Disclosures, Due Diligence & Drilling

Safe deposit boxes are not the flashiest area of banking, but don’t let this regulatory “sleeper” fool you. Examiners have cited findings for lack of sufficient policies and procedures and inadequate controls. This is an area that institutions tend to “set and forget” – and it’s reflected in examination reports. Are you properly monitoring for suspicious activity? What happens if an SDB lessee passes away? When is it okay to drill a box? When do unclaimed property rules apply? If you hesitated in answering any of these questions, then this session is for you!

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