Opening Accounts Online: Rules, Risks & Best Practices

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Electronic banking continues to evolve, and financial institutions must keep pace with technology, regulatory requirements, and cybersecurity challenges. Recent surveys indicate that 51% of U.S. adults use an online banking application. This fast-paced session will cover the required disclosures for opening deposit accounts, E-SIGN compliance, BSA due diligence for CIP, and best practices for opening deposit accounts online. Learn a six-step process for consumer consent and common challenges with deposit account opening procedures.  

HIGHLIGHTS

  • E-SIGN-related deposit regulations and specific compliance provisions 
  • Common questions regarding E-SIGN
  • Six-step consumer consent process
  • Basic steps for E-SIGN implementation, including CIP, vendor selection, and more
  • FFIEC expectations for cybersecurity risk assessment

TAKE-AWAY TOOLKIT

  • Exam procedures and online banking resources
  • E-SIGN checklist and answers to common questions
  • Social media policy template
  • Employee training log
  • NEW – Interactive quiz

WHO SHOULD ATTEND?
This informative session will ensure e-banking compliance and is best suited for compliance officers, risk managers, operations managers, business development managers, and others responsible for managing online banking, E-SIGN compliance, e-statements, and e-disclosures.

ABOUT THE PRESENTER – Susan Costonis, CRCM, Compliance Consulting and Training for FIs
Susan Costonis is a compliance consultant and trainer who began her career in 1978. She specializes in compliance management along with deposit and lending regulatory training. Susan has successfully managed compliance programs and exams for institutions that ranged from a community bank to large multi-state bank holding companies. She has been a compliance officer for institutions supervised by the OCC, FDIC, and Federal Reserve. Susan has been a Certified Regulatory Compliance Manager since 1998, completed the ABA Graduate Compliance School, and graduated from the University of Akron and the Graduate Banking School of the University of Colorado. She regularly presents to financial institution audiences in several states and “translates” complex regulations into simple concepts by using humor and real-life examples. 

Originally recorded on July 24, 2019.

Recorded webinar is available until January 31, 2020.

Free Digital Copy included with purchase to download and view beyond link expiration date.

Price includes sales tax.