Signature Card Legal and Compliance Issues
Get a legal and regulatory update on compliance issues associated with the use of deposit account signature cards. This topic will cover the legal and regulatory compliance issues associated with the use of deposit account signature cards. We will cover the reasons why signature cards are used, and some of the nuances associated with their proper completion. The topic will also cover many of the operational and compliance challenges that financial institutions are currently facing with emerging technologies – such as online deposit account opening – and what should be considered regarding signature cards in these new processes.
Who should attend?
- What Are Signature Cards?
- Highlight of Issues to Be CoveredLegal Purposes of the Signature Card
- Permissions Language–Federal and State Consumer Reporting Requirements–Issues Associated With Timing and Potential Adverse Action
- TIN Certification–Brief Discussion of IRS Rules Regarding TIN Certification–Possible to Obtain in Other Forms?–Requirements to Obtain TIN Certification Electronically (IRS Announcement 98-27)
- Deposit Insurance–FDIC/NCUA Record Keeping Requirements–Special Rules Under Emerging Technologies (Joint Accounts)
- Signature Verification–Liability Standards Under UCC § 4-406–Operational Challenges and Legal Benefits of an "Exception Item Queue" and Role of Signature Card in Such Review–Discussion of American Bankers Association White PaperIssues Caused by Emerging Technologies
- Online Account Opening
- Document Retention and Scanning of Signature CardsWrap-up
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Lorman Education Services - Live and On-Demand Courses
Lorman Education Services is a leading provider of online professional development and corporate training for organizations and individual professionals. For more than 30 years, Lorman has delivered relevant, high-quality, professional-level courses that cover a broad range of business and technical...