Best Practices in Handling Dormant Bank Accounts and the Escheatment Process
|Date / Time:
Many states are updating their state regulations and/or changing their unclaimed property statutes that will impact the tracking of dormant accounts and reporting requirements in the financial services area.
Properly tracking and confirming customer-generated activity vs. identifying an account as dormant based on previous banking practices is just one of the areas that state auditors and their contractors are carefully reviewing during an audit.
This webinar provides an overview of the unclaimed property laws, due diligence requirements, recent statutory changes and suggested best practices to ensure compliance with the various state unclaimed property laws.
About Your Presenter
- Fast Facts on Unclaimed Property
- Relevant Property Types in the Banking Area
- Rules of Jurisdiction
- State/Holder Requirements
- Recent State Developments
- Defining Dormancy vs. Inactivity
- Avoiding Missteps Regarding Fees and Other Service Charges
- State Enforcement Update
- The 2015 Hot Topics: CDs and IRAs
- Fines and Penalties
- Best Practices
- Brings 20 years of experience in unclaimed property to Keane where she serves as vice president of reporting for Keane’s outsourced unclaimed property reporting; servicing more than 4,000 reporting entities in the banking, brokerage, mutual fund, transfer agent and insurance industries
- Her expertise in unclaimed property encompasses reporting, claims processing, customer service and call center operations, newspaper advertising and media relations
- As the former assistant director and chief of staff for the Pennsylvania Treasury Department’s Bureau of Unclaimed Property, she oversaw 88 employees in three locations and was responsible for education and compliance through business-to-business marketing, seminars and webinars, as well as audits and voluntary compliance efforts
- Held several other positions with the Pennsylvania Treasury’s Bureau of Unclaimed Property including division manager for claims, manager of public relations and claims, and manager of customer service and public outreach
- Speaks frequently on the national level about unclaimed property reporting and best practices
- B.A. degree in political science and post baccalaureate diploma in marketing communications, Elizabethtown College
Cannot Attend The Live Presentation?
This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.
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|About The Provider:
||Lorman Education Services has provided educational seminars and online training for professionals since 1987.
Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.
That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.
Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
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