Safe deposit boxes are an important service provided by your financial institution. They are a source of additional revenue and a way to enhance accountholder relationships. However, safe deposit box operations are unique and sometimes mysterious. The improper handling of a safe deposit box can result in unforeseen liability of tremendous proportions. This webinar will cover everything you need to know to properly handle safe deposit boxes, including the initial agreement, collecting rent, drilling, and escheatment of box contents to the state.
- Your institution’s obligations and responsibilities for safe deposit boxes
- Proper procedures to grant access
- What to do when the rent is delinquent
- What to do when the sole owner or one joint owner dies
- Drilling procedures
- Proper escheatment of box contents
- Avoiding common mistakes
- Safe deposit box policy checklist
- 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 staff involved with safe deposit boxes including officers, frontline staff, operations personnel, compliance officers, attorneys, and managers.
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 June 20, 2018.
Recorded webinar link is available until December 31, 2018.
Free Digital Copy included with purchase to download and view beyond link expiration date.
Price includes sales tax.