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Many regulations and state law issues come into play with today's time deposits. This program will cover Regulation D, E and DD issues that can land you into regulatory trouble. But we will also discuss why contracts signed by all parties to the account can protect your institution and your account holder from legal problems and and protect rights at death. You have questions and this program will provide answers on your regulatory issues and operational issues with time deposits.
We'll look at these and other questions during this two-hour presentation:
- What is a CD in 2014?
- Do we need to issue statements on CDs?
- What disclosures should we give when we open a CD? What maturity notices? Do we have to tell the account holder the rate in a subsequent notice when the CD matures?
- Can the financial institution offset a CD?
- Can the names on a CD be changed during its term?
- What happens when a loan is secured by a CD with a pay-on-death designation when the owner dies?
- What notifications do we have to send for a "Change in Terms" under TISA? If you want to increase your CD penalties can you send a blanket notice to everyone before maturity of the first CD?
- Does Regulation E ever apply to a CD?
- Can we waive CD penalties? Can a penalty be waived for certain circumstances?
- What happens when the accountholder loses a CD? Do we still need a loss of CD affidavit?
- What is meant by paperless CDs?
- Do all CDs have penalties? Can there be a penalty free CD?
- Must all the owners sign a CD account agreement? Is that true for insurance purposes?
- How do we issue the check when we cash a CD?
- Why is internal fraud such an issue on CDs?
- Our bank wants to offer a "hunting season" CD? Is it legal to have a gun as the bonus? Would the IRS consider it "interest"?
- And many more questions you need answers to
New Accounts representatives, Personal Bankers, Member Service Representatives, Branch Operations, Branch Managers and anyone that manages the deposit area.
Critical Issues on Certificates of Deposit
Questions and Answers