Signature guarantees are not new, but financial losses and administrative problems associated with them are increasing. Many bankers do not understand their responsibilities when guaranteeing a signature or when using a Medallion stamp. This can expose the bank to substantial liability. The FDIC mandates that all financial institutions that issue or accept signature guarantees must have effective internal controls to mitigate the losses and problems associated with signature guarantees.
Would your bank pass this test? Do you know the differences between the various signature guarantees, including the STAMP Medallion Program? Join us and learn the situations in which each type of signature guarantee is required, including analysis of the risks and liabilities to your bank.
Note: This seminar is not sponsored by or affiliated with the STAMP Medallion Program.
- Distinguish among the various types of signature guarantees
- Explanation of STAMP Medallion Program
- Practical examples of common situations and how to handle them
- Bank liability and how to reduce that risk
- Proper identification of parties
- Proper questions to ask: Is the signature genuine? Is the signer the appropriate party? Does the signer have legal capacity?
- Checklist of the proper questions to ask before your bank guarantees a signature
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
WHO SHOULD ATTEND?
This informative session is designed for any staff member that issues or accepts signature guarantees or participates in the STAMP Medallion Program.
PLEASE NOTE: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.
ABOUT THE PRESENTER – Elizabeth Fast, JD & CPA, Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
Originally recorded on October 4, 2018.
Recorded webinar is available until April 30, 2018.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.