Top 25 Safe Deposit Compliance Issues

Thursday, April 15, 2021
2:30 pm – 4:30 pm Eastern

Questions regarding deceased renters, payable-on-death clause, living trusts, court orders, Servicemembers Civil Relief Act, USA Patriot Act, Suspicious Activity Reports, power of attorneys, Americans with Disabilities Act, past due boxes, abandoned property and many other legal and compliance issues have caused great concern and confusion for the safe deposit industry. At this workshop you will receive current information about all of these issues and an in-depth explanation about how they impact on your financial institution and your safe deposit box renters.

Topics Covered:

• Does the “Beneficial Ownership of Legal Entities” law apply to business boxes? 
• What “SEVEN” past due fees can be collected from a delinquent box renter? 
• Who can legally access and remove contents from a deceased renter’s box? 
• Does the Servicemembers Civil Relief Act (SCRA) apply to past due boxes?  
• Can you title a lease as a “living trust” or add a “payable of death” clause?
• What seven suspicious safe deposit transactions always trigger a SAR?
• How does the USA Patriot Act affect all safe deposit areas nationwide?
• What BSA & SAR violations are compliance examiners finding today?
• What should we do if dangerous content are found in a past due box?
• When are box contents sent to the Unclaimed Property Department?
• In most states who must be present when a past due box is drilled?
• How can poor box drilling procedures make a box renter very rich?
• Do you have “Right of Offset” against a past due renter’s account?
• Can you report a past due box renter to a credit-reporting agency?
• What careful wording should be used in a FINAL past due notice?
• How does the American with Disabilities Act affect safe deposit?
• How should you answer a renter’s question about insurance?
• Should a power of attorney be used to enter a renter’s box?
• Can renters legally store money, guns or drugs in a box?

Who Should Attend? 

Safe deposit supervisor, vault attendant, branch manager, compliance & security officer, auditor, training director and in-house legal counsel.

Instructor

David P. McGuinn

David P. McGuinn, president of Safe Deposit Specialists, speaks nationwide for numerous financial associations. He is a former Senior Vice President and Cashier with over 45 years of financial experience and is often referred to nationwide as the safe deposit GURU. As a consultant he has trained over 350,000 safe deposit personnel since 1969 in programs offered in all 50 states. Dave is past president of the American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. He has written numerous financial articles and has been interviewed by The New York Times, Wall Street Journal, Readers Digest, Money Magazine, New York Magazine, Fortune Magazine, Washington Post, Associated Press, AARP, Bottom Line Financial, National Public Radio (NPR), British Broadcasting Corp. (BBC), Inside Edition, Crime Watch, Court TV, CUNA, FDIC, CNN, FOX, CBS, ABC, NBC Nightly News and many other financial publications regarding current safe deposit issues. He was also a featured speaker for the American Bankers Association, Independent Community Bankers of America and National Association of Federal Credit Unions and over 100 other nationwide financial associations. McGuinn has created numerous training videos, DVDs, policy and procedure manuals and many other unique safe deposit regulatory and compliance products. His safe deposit resources are often considered the accepted standard for the financial industry.

Attendance verification for CE credits provided upon request.

Webinar Sponsored by Total Training Solutions

If you are having issues with registering online, please contact CBAO's Education, Training & Special Event Coordinator, Patti Webb, (614) 610-1877.