New Deposit Accounts: Checking The Boxes – ON-DEMAND WEBINARS

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Overview

Recorded: February 3, 2022

Presented by: Ms. Leah Hamilton, Vice President and Senior Consultant, FORVIS

With increasing concerns that customer statements (e.g., periodic statements) are not matching up to disclosures provided at account opening (or before the first transaction), it is essential for financial institution staff to know and understand the risks of inconsistent upfront disclosures and back-end periodic statements. Examiners are diving into advertisements, disclosures, agreements and periodic statements for both deposits and loans – and annual rate calculation validation is playing a critical role in that process.

During this two-hour New Deposit Accounts: Checking the Boxes webinar, we will cover:

  • Consistency
  • Advertisements, disclosures agreements, statements
  • Mitigating regulatory violations, including UDAAP risks
  • Deposit account opening disclosure requirements
  • BSA/AML
  • Regulation CC Funds Availability
  • Regulation E Electronic Funds Transfer
  • Regulation GG Unlawful Internet Gambling
  • Additional terms and conditions
  • Validating APYs
  • Additional considerations: System limitations
Who Should Listen

This program is designed for all employees involved with the deposit account function. Designed to be a highlight of the deposit disclosure requirements and the impact of inconsistent documentation (ads, disclosures, agreements and periodic statements). This program will benefit compliance officers, auditors, cashiers, operations personnel, tellers, customer service representatives and new accounts personnel.

Program Level: Basic

Prerequisite: Basic Knowledge of Deposit Regulations

Advanced Preparation: None

Field of Study: Specialized Knowledge

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