Did you inherit the safe deposit area and then start wondering what liability might exist? Historically this responsibility has been routinely passed from employee to employee with very little attention given to existing procedures or documentation. Unfortunately, only after a loss occurs does management turn its attention to this area.
Questions regarding current lawsuits, Suspicious Activity Reports, self-service boxes, deceased renters, living trusts, past due boxes and many other legal, liability and compliance topics have caused great concern and confusion for the safe deposit industry.
At this workshop you will receive current information about these issues and an in-depth explanation about how they impact your financial institution and your safe deposit box renters.
David McGuinn, a nationally known expert in the safe deposit area, answers hundreds of questions each month. He will provide clear concise answers to the "Most Frequently Asked" questions regarding your institution's responsibility and potential liability. He will also identify and discuss many other current issues relating to safe deposit.
What You Will Learn:
Get answers and updates to the following questions and establish internal procedures to comply with state and federal safe deposit requirements.
Who Should Attend?
- Can money, guns or drugs be legally stored inside a box?
- How can renters access boxes 24 hours a day, 7 days a week?
- Can you add a “Payable on Death” or "Living Trust" to a contact?
- Why must all box renters receive a "No Insurance" disclosure form?
- What current safe deposit burglaries are TV reporters now covering?
- How can proper vault closing procedures eliminate overnight guests?
- Who can legally enter a deceased (single) renterâ€™s box in most states?
- How can incorrect box drilling procedures make a box renter very rich?
- What seven suspicious safe deposit transactions always trigger a SAR?
- How can con men open a safe deposit box door in under three seconds?
This informative program is designed to update compliance officers, safe deposit supervisors, vault attendants, branch managers, security personnel, auditors, training directors, new account representatives and your in-house legal counsel.
David P. McGuinn, President of Safe Deposit Specialists, is a former banker with 45 years of safe deposit experience and is often referred to nationwide as the safe deposit GURU. In all 50 states he has trained over 250,000 safe deposit personnel since 1969, and has served the industry as President of the American, Texas and Houston Safe Deposit Associations.
Dave is a featured speaker for the American Bankers Association's TV network and has been interviewed by the Wall Street Journal, Money Magazine, New York Magazine, Associated Press, National Public Radio, AARP, Bottom Line Financial, FDIC, CUNA, CNN, CBS, ABC, NBC Nightly News and Court TV on current safe deposit issues. McGuinn has created numerous video and web training programs and his Safe Deposit Policy and Procedures Handbook is now the accepted standard for the financial industry.