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Critical Issues on Certificates of Deposit
Webinar | 1 1/2 Hours | CE Credits: 2.0
Still put a piece of paper into a sleeve and give it to the account holder and call it a CD? It might be old fashioned, but many institutions still handle nonnegotiable CDs much like they handled the negotiable instrument of days gone by. As we transition from the traditional negotiable certificates to the signature card contract certificates of deposit we will review the rules that do and do not apply. Let's look at the procedures which might not make sense anymore, such as Loss of CD Affidavits. It might mean that you need signatures of all parties, not just the one opening the account. Old school might not work in today's legal and regulatory environment. Let's look at our CD rules, procedures and ownership issues that may need to be revamped for 2016.
What You Will Learn
• What is a CD in 2016? Do we need to issue statements on CDs?
• What disclosures should we give when we open a CD? What maturity notices?
• Can the financial institution offset a CD?
• Can the names on a CD be changed?
• What happens on a CD secured loan with a pay on death?
• What notifications do we have to send for a "change in terms" under TISA?
• Can we wave CD penalties? Can a penalty be waived for certain circumstances?
• What happens when the account holder loses a CD? Do we still do loss of CD affidavit?
• What is meant by paperless CDs?
• Should we require all owners sign a CD? Is that true for insurance purposes?
• How do we issue the check when we cash a CD?
• And many more questions you need answers to
Who Should Attend
This informative session is for customer service representatives, new accounts, member service representatives, branch manager, branch administration, officers and anyone who handles or manages deposit accounts.
Gabrielle Reed joined Gettechnical Inc. as an associate trainer in 2014. She brings with her over 23 years of banking, training and retail experience. From teller to branch operations, she has done it all. Her last position in training was at MidSouth, a large community financial institution in Louisiana. Before joining MidSouth, she was with Wachovia Bank in Atlanta, Georgia. Prior to her banking career, she worked in the management and training department for a regional drug store. She brings a practical hands-on approach to deposit training which is a benefit to all her students.
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