Opening new accounts is complicated! With onerous regulatory oversight and scrutiny, new account training is paramount to maintain diligence and update processes and procedures. This two-hour comprehensive webinar focuses on the risks, procedures, best practices, and compliance requirements for opening Personal and Consumer Accounts. Attendees will understand the six-step due diligence account opening process that applies to every type of account opened and, if followed, can protect a financial institution if ever sued by a customer. Discussion topics include proper documentation, account ownership options, with and without the right of survivorship, the impact right of survivorship can have on a customer's estate plan, proper account titling, TIN requirements, agency, and power of attorney arrangements. The session also addresses who can transact on personal accounts during a customer's lifetime and at the death of a signer. This session is not state specific.
Opening New Accounts: Documentation and Compliance - Personal and POA Accounts
This two-hour webinar focuses on the risks, procedures, best practices, and compliance requirements for opening Personal and Consumer Accounts.