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Audio & Reference Manual

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.

Runtime: 89 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

  • What Are Signature Cards?
  • Highlight of Issues to Be Covered

Legal 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 Paper

Issues Caused by Emerging Technologies

  • Online Account Opening
  • Document Retention and Scanning of Signature Cards

Wrap-up

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Thomas P. Quinn, Jr.

Thomas P. Quinn, Jr.

Hudson Cook LLP

  • Partner with Hudson Cook, LLP
  • Has more than 15 years of experience assisting banks and nondepository financial service companies in complying with the myriad of state and federal regulations affecting consumer lending and deposit products
  • Has served as an adjunct professor at the Roger Williams University School of Law, lecturing on consumer law and consumer protection issues
  • Has written and spoken on a variety of topics related to his areas of expertise
  • J.D. degree, Case Western Reserve University School of Law; B.A. degree in history, magna cum laude, Fairfield University
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 399235
Published 2016
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