Live Webinar - FDIC Trusts Coverage Changes - August 23, 2022
Presented by
John Burnett
1:30 - 2:30 p.m. CDT
ON-DEMAND AVAILABLE August 24, 2022
The FDIC has made some important changes affecting its deposit coverage of trust accounts and mortgage servicing account balances that will become effective on April 1, 2024. Their goal was to simplify the regulation by applying the same coverage rules to both revocable and irrevocable trusts and provide consistent insurance treatment for all mortgage servicing account balances held to satisfy principal and interest obligations to a lender. It appears the FDIC met that goal.
Insured depository institutions need to familiarize themselves with the changes in coverage, train employees and update publications as necessary. IDIs should also determine whether there is a need to communicate with existing depositors about the coverage changes.
In this special one-hour presentation, BOL’s John Burnett will walk through the revised rules and illustrate how they will work. Understanding deposit insurance coverage for trusts accounts, in particular, will be made much simpler.
WHO SHOULD ATTEND:
New accounts and other customer contact employees, including customer service phone desk staff; deposit services staff.
John Burnett
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