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No-Contact Account Opening: E-SIGN Compliance

Feb 09 2:00 PM - Feb 09, 2021 3:30 PM
Feb 09, 2021 2:00 PM - 3:30 PM
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The 2020 pandemic forced many financial institutions to open accounts electronically and follow E-SIGN when branches were temporarily closed. Learn the six-step consent process, common pitfalls, and more.

Learning Objectives

  • Explain and implement the six-step consent process to open “no-contact” accounts
  • Understand which deposit regulations are related to E-SIGN and have specific compliance provisions
  • Use the most recent BSA guidance for satisfying the due diligence requirements for CIP (Customer Identification Program)
  • Define and identify acceptable documents to open accounts and incorporate risk mitigation strategies into the new account process
  • Determine when enhanced due diligence steps are required to open an account

The 2020 pandemic forced many financial institutions to open accounts electronically and follow E-SIGN when branches were temporarily closed. This fast-paced session will explore the six-step consent process. Learn best practices for opening accounts and completing signature cards, as well as common pitfalls. Other important topics will be covered, including risk mitigation strategies, vendor management, and required documentation for CIP in order to form a “reasonable belief” of the true identity of the customer.

Agenda

Speakers

Susan Costonis, CRCM, Compliance Consulting and Training for Financial Institutions

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.

Location

Fees

Individual Webinar: $259

Full, 4-part E-Sign Series: $933 (save $103)

The series includes:

To purchase the series, please visit the main E-Sign Series page.

Additional Info

Event Type

On-Demand Webinar

Topics Covered

  • On-Demand Webinars
  • Member Service
  • Fraud, Security & Technology
  • Compliance