Critical Issues on Certificates of Deposit (CDs)
|Date / Time:
Still put a piece of paper into a sleeve and give it to the customer and call it a CD? It might be old fashioned, but many institutions still handle nonnegotiable CDs much like they handled the negotiable instrument of days gone by. As we transition from the traditional Certificates that are negotiable to the signature card contract certificates of deposit, what rules apply and what do not anymore?
We'll look at the procedures that might not make sense any longer, such as Loss of CD Affidavits. It might mean you need signatures of all parties and not just the one opening the account. Old school might not work in today's legal and regulatory environment. Let's look at our CD rules, procedures and ownership issues that may need to be revamped.
Who Should Attend
- What is a CD in 2016? Do we need to issue statements on CDs?
- What disclosures should we give when we open a CD? What maturity notices?
- Can the financial institution offset a CD?
- Can the names on a CD be changed?
- What happens on a CD secured loan with a pay on death?
- What notifications do we have to send for a "change in terms" under TISA (Truth in Savings Act)?
- Can we waive CD penalties? Can a penalty be waived for certain circumstances?
- What happens when the accountholder loses a CD? Do we still do loss of CD affidavit?
- What is meant by paperless CDs?
- Do we have to have all the owners sign a CD? Is that true for insurance purposes?
- How do we issue the check when we cash a CD?
- And many more questions and answers
This informative session is for customer service representatives, new accounts, member service representatives, branch manager, branch administration, officers and anyone who handles or manages deposit accounts.
Deborah Crawford is the President of gettechnical inc. She specializes in compliance and regulations for the deposit side of financial institutions. Her 20+ year career in banking and training began at Hibernia National Bank. She has been a seminar leader for many state associations and credit union groups across the nation. She has Bachelors and Masters degrees from Louisiana State University.
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All Canadian Provinces: 2.5
|About The Provider:
||Since 1983 Total Training Solutions has produced dozens of videotapes, CD-Roms, DVD's and web-based training modules. In addition to off-the-shelf products, Total Training Solutions also develops custom training products and consults with financial institutions to develop their own training curriculum.
For timely delivery of training topics, webinars or web conferencing is an unbeatable option. We now offer over 100 live programs per year and you can even purchase the recorded or ondemand session if you are unable to attend the live program.
We have worked exclusively with the financial industry since our founding. Because of this, we understand the needs of training departments in financial institutions and are alert to changes which affect the industry.
Attend the live session with the opportunity to ask questions to the presenter. You also receive a link to the handouts. All registrations for a live event will be given access to the OnDemand recording, at no additional cost, for seven days following the event. This will allow a flexible alternative when last minute conflicts intrude on scheduled events.
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