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Audio & Reference Manual

Signature Card Legal and Compliance Issues

Gain an understanding of what a signature card is and specific regulatory requirements that need to take place.

As the world speeds onward through the digital age, depository bankers frequently find themselves trying to synthesize archaic rules with the realities of cutting-edge technology. The signature card is one aspect of depository banking that has been slow to evolve. The regulatory requirements are often so murky that banks pay to store hard copies indefinitely, cling to old document templates creating potential liability, and are generally hesitant to evaluate the operational, regulatory, and legal standards that have been in place for many years. With the influx of online banking into the marketplace, brick and mortar banks must take a hard look at these areas and make prudent decisions about how they intend to evolve. While online banks must figure out how to adapt their business model and practices to rules that were not written with them in mind. This topic helps compliance personnel, branch administration, branch managers, and general counsel of depository institutions navigate the signature card rules that impact their business. Beyond the rules, the material also provides information about the choices depository institutions have and the risks and rewards of those choices, so that its leadership can develop and implement an evolutionary plan consistent with the law which protects the interests of both the institution and its customers.

Runtime: 107 minutes
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Why Lorman?

Over 32 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

Operational Standards

  • Data Verification
  • Document Retention Electronic vs. Paper Storage
  • QA/QC Concerns (Image Verification, Changes to Cards)
  • Ownership Types and Choices
  • Multiple Accounts

IRS and Regulatory Issues

  • W-8/W9 Form Requirements
  • Regulatory Alphabet Soup: P, E, DD, and CC

Legal Compliance

  • Contract Provisions (Setoff, Arbitration Clauses)
  • Consumer Accounts vs. Commercial Accounts
  • State Law Variations
  • UCC3 and UCC4

What's Next?

  • Regulatory Landscape
  • Predictions of the Future
  • How to Stay Informed
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Why Lorman?

Over 32 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 course was last revised on June 29, 2018.

Call 1-866-352-9540 for further credit information.

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

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

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

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Why Lorman?

Over 32 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

Ashley M. Elmore Drew, Esq.

Ashley M. Elmore Drew, Esq.

Elmore Drew PLLC

  • Senior Counsel in the Tampa office of Greenspoon Marder LLP
  • Provides legal and regulatory compliance guidance to business, real estate, and financial services clients on a wide range of Federal and State topics, including but not limited to the following: RESPA, SCRA, TILA, MLA, PACE Financing, Vendor Management, ECOA, FDCPA, FCRA, FACTA, UDAAP, FATCA, FACTA and myriad regulations. She also represents clients in regulatory and consumer defense litigation
  • Was featured in the Tampa Bay Business Journal, discussing the impact of the 2016 election on Dodd-Frank and the effect on community banks
  • Has written numerous articles
  • Can be contacted at 813-769-7038 or [email protected]
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Why Lorman?

Over 32 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: 402922
Published 2018
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