Safe Deposit Regulatory Compliance & Legal Issues

With Dave McGuinn

Safe Deposit Regulatory Compliance & Legal Issues

With Dave McGuinn
  • 1 Video
  • 2 Downloads
  • 2.0 hrs
Course description

Improve Your System:
Questions regarding the Servicemembers Civil Relief Act, USA PATRIOT Act, Suspicious Activity Reports, Know Your Customer, powers of attorney, deceased renters, payable on death leases, living trusts, court orders, Americans with Disabilities Act, past due boxes, abandoned property and many other legal and compliance areas 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.



David McGuinn, a nationally known expert in the area of safe deposit, will provide clear concise answers to complicated questions regarding your institution's responsibility and potential liability. He will also identify and discuss various compliance issues relating to each legal topic.



What You Will Learn:
Get answers to the following questions and establish internal procedures to comply with your own safe deposit requirements.

  • Does the Servicemembers Civil Relief Act (SCRA) apply to past due boxes?
  • 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?
  • What past due fees can be collected from a delinquent box renter?
  • 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?
  • What amount of safe deposit liability insurance should you carry?
  • How does the American with Disabilities Act affect safe deposit?
  • Who can legally enter a deceased renter's box in most states?
  • How should you answer a renter's question about insurance?
  • Should a power of attorney be used to enter a renter's box?
  • How can adding a "payable on death" clause get you sued?
  • Can money, guns or drugs be legally stored in a box?
Who Should Attend:
This informative program is designed to update safe deposit supervisors, vault attendants, cashiers, branch managers, compliance officers, auditors, training directors, new account personnel and your in-house legal counsel.

Course Curriculum

Video
119:52
Safe Deposit Regulatory Compliance & Legal Issues
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Instructor

Dave  McGuinn
Dave McGuinn

David McGuinn, President of Safe Deposit Specialists, is a former banker with over 45 years of safe deposit experience. He is often referred to nationwide as the safe deposit GURU.

In all 50 states he has trained over 350,000 safe deposit managers and personnel since 1969, and has served as President of the American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. All four organizations have presented him with their President's Award for his dedication to the financial industry.

Dave is a featured speaker for the American Bankers Association and the National Association of Federal Credit Union's TV network and has been interviewed by the Wall Street Journal, Dow Jones Money Watch, Bottom Line Financial, Washington Post, New York Magazine, Associated Press, Money Magazine, AARP, National Public Radio, CUNA, FDIC, Court TV, CNN, CBS, ABC and NBC Nightly News on current safe deposit issues.

McGuinn has created numerous safe deposit operations, marketing, audit, security, disaster and compliance manuals, brochures, forms, training videos and Internet/audio training programs. His safe deposit products and training seminars are now recognized as the recommended standard for the financial industry. All of his safe deposit resource items can be reviewed at www.sdspec.com.