10 Compliance Hotspots for Opening Deposit Accounts


Presented by:
Deborah Crawford

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Each time a financial institution opens a new account relationship on the deposit side, it must comply with many different federal and state rules. Your job as a new account representative is to open the accounts, cross sell the customer and all the while go through your compliances paces to make sure that this account is in compliance. It is not always as simple as checking individual or joint or a signature card anymore and just hoping for the best. In this program we will look at the compliance "hotspots" for opening deposit relationships. Each of these hotspots has liability and some have fines for noncompliance. You may find that a simple checklist, new accounts script or a really good signature card contract can keep the frontline on track and opening accounts in compliance with state and federal law.

We will cover these hotspots:
  1. Opening Accounts According to state law and your signature contact
  2. Customer Identification Rules and Policy
  3. Customer Due Diligence: Risk and updating customer records
  4. Holds under Regulation CC for both business and personal new accounts
  5. Regulation GG rules on unlawful internet gambling for business Accounts
  6. Disclosures: Regulation CC, Regulation E, Regulation P and Regulation DD
  7. Red Flags for Identity Theft
  8. Your job as a Withholding Agent: W-9 and W-8
  9. Office of Foreign Assets and Control-what do if you get a match
  10. Overdraft Privilege Under Reg E-Who signs what
Who should attend: New Accounts Representatives, Customer Service Representatives, Branch Managers, Branch Operations, Compliance Officers, Training and anyone who opens accounts.

About the Speaker: Deborah Crawford is the President of gettechnical inc, a Baton Rouge-based firm, specializing in the education of banks and credit unions across the nation. Her 23+ years of banking and teaching experience began at Hibernia National Bank in New Orleans . She graduated from Louisiana State University with both her bachelor's and master’s degrees. Deborah's specialty is in the deposit side of the financial institution where she teaches seminars on regulations, documentation, insurance and Individual Retirement Accounts.

You have the right under this license agreement for this CD-ROM to use this presentation on a single-workstation. Use on a network is in violation of the copyright agreements. CD may be used by multiple users at a given institution but may not be placed on a network or in any other multi-user environment.

This program was recorded in its entirety on February 2012. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

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This product was added to our catalog on Friday 13 January, 2012.

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