Deposit Account Closings and Changes


Presented by: John Burnett

Add CD-ROM to Cart:

(Product will ship via USPS)


The longer an account stays with your bank, the greater the likelihood that you'll be asked to change a depositor's name on your records, or to add an owner or signer. Eventually, there will come a request to remove an owner or signer, and, perhaps, to close the account altogether. Requests can come from your customer or from a third party, such as a guardian, conservator, or trustee in bankruptcy. A decision to close an account can come from within the bank. It's important that you are well-equipped to handle these requests correctly. That means understanding the purpose of the request and knowing how to translate the request into the correct actions to take-actions that address the request while mitigating the risk of future problems for the bank.

This presentation is designed to discuss many of the common account change and closing decisions that face bankers today. In each case, we will suggest policies or procedures designed to complete the change needed while minimizing the risk that the change could mean to the bank. The presentation is by no means exhaustive of every situation a banker will face, nor does it address specific state requirements (except for reminders they exist and must be dealt with).

About the Speaker: John Burnett is a 1979 alumnus of the ABA National Compliance School, and has served on its faculty for several years. He graduated with honors with the Class of 1990 from ABA’s Stonier Graduate School of Banking, and is also a graduate of the BAI’s and the Massachusetts Banker Association’s Schools of Banking.

John began his banking career in high school when he started as a teller at a $15 million bank that didn't have account numbers for its checking accounts (he says they actually filed by signature!) He joined Cape Cod Bank and Trust Company in 1971 and assumed the position of Compliance Officer in 1976. He also served as corporate secretary and secretary of CCBT’s Board of Directors, as well as Clerk of the bank’s holding company.

John joined Glia Group, Inc. and became a part of the team in June, 2004. Mr. Burnett was a member of the Massachusetts Bankers Association Legal and Regulatory Compliance Committee, and a former member of the American Bankers Association Compliance Executive Committee and NCS/NGCS Advisory Board. He served on ABA’s Truth in Savings Task Force, and has served on several ABA and Massachusetts Bankers seminar panels.

  This program was recorded in its entirety in April 2022. The CD-ROM includes program slides, materials (if available) and follow-up Q & A document.

Add to Cart:

  • Model: cd_deposit0422
  • Manufactured by: Glia Group, Inc.

This product was added to our catalog on Tuesday 13 March, 2012.

Copyright © 2022