Deposit operations is one of the most important areas of your financial institution. This webinar will provide a comprehensive regulatory overview to help your institution avoid unnecessary loss and comply with BSA training requirements.
- Describe the importance of BSA requirements
- Apply the proper holds on checks
- Define unauthorized electronic funds transfers
- Explain how different forms of account ownership increase deposit insurance coverage
- Distinguish between rules for consumer versus non-consumer accounts
Numerous laws and regulations affect deposit operations, beginning with new account opening, including identifying accountholders under the USA PATRIOT Act, OFAC, Truth in Savings, and other disclosure requirements. Once an account is opened, there are requirements regarding transactions (including holds on deposits), Bank Secrecy Act monitoring, reporting and recordkeeping, and rules regarding checks, electronic funds transfers, account insurance, etc.
Compliance with consumer protection laws and regulations is a perennial priority with examiners and auditors. Understanding your duties and responsibilities can make achieving this goal almost second nature and also provides a better experience for accountholders. Protecting your institution from unnecessary losses due to missteps is an added plus. Learn the dos and don’ts of handling deposit accounts with this important training.
Mary-Lou Heighes, Compliance Plus, Inc..
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has assisted financial institutions with the development of compliance programs since 2000. She provides compliance training for trade associations and financial institutions. Mary-Lou has been an instructor at regulatory compliance schools, conducts dozens of webinars, and speaks at numerous conferences throughout the country.
Involved with financial institutions since 1989, Mary-Lou has over 25 years' compliance experience. Before starting Compliance Plus in 2000, she spent five years working as a loan officer, marketer, and collector. She also worked at a state trade association for seven years providing compliance assistance and advising on state and federal legislative issues that affect financial institutions.