Recently financial institutions have experienced large disappearance claims and significant lawsuits which resulted in over $15,000,000 in nationwide claims and expensive litigations.
What did they do wrong? Most of these disappearance claims and lawsuits are a direct result of insufficient employee training, incorrect box drilling and safekeeping procedures, offering self-service boxes, unauthorized vault access, improper box relocations, flooded vaults, sloppy record retention and the news media coverage that inevitably follows.
Regardless of the size of your safe deposit operation, this presentation provides a realistic and well-organized method of reviewing your procedures before a lawsuit occurs. Your presenter knows firsthand what to look for, from the most common errors to the not so common, but costly mistakes. This program will help you review specific and critical internal procedures.Covered Topics
How can you avoid these claims, lawsuits, and media coverage? Review the following questions. This seminar provides the answers and procedures to help reduce future litigation.
- Why have numerous safe deposit disappearance claims occurred recently?
- How did granting a small favor create a $2,140,000 disappearance claim?
- How did poor "Box Relocation" procedures cause a $5,500,000 lawsuit?
- How could Hurricane Katrina create many lawsuits over six years later?
- What thirty questions will always be asked in any safe deposit lawsuit?
- Why did sloppy box drilling procedures create a $4,500,000 lawsuit?
- Have you seen the locksmith tools that will open boxes in seconds?
- What made CBS create three recent safe deposit TV specials?
- Are you leaving anyone in your vault alone? "BIG MISTAKE!"
- Why are "self service" box renters now suing for millions?
Who Should Attend
This informative program is designed to update safe deposit supervisors, vault attendants, cashiers, branch managers, compliance officers, auditors, training directors, security officers, new account personnel and your in-house legal counsel.The Presenter
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 audio and web training programs and his Safe Deposit Policy and Procedures Handbook, Regulatory/Compliance Manual and other safe deposit products and resources are now the accepted standard for the financial industry.