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Powers-of-attorney are complex legal documents used to transact business with your financial institution on a daily basis. If not handled properly, your institution can be exposed to significant risk if the attorney-in-fact intentionally (or innocently) acts outside the scope of his or her authority. This webinar will explain everything you need to know about attorneys-in-fact regarding deposit accounts and loan transactions. Join us to learn the actions an attorney-in-fact can and cannot take on behalf of your accountholder and how your institution can reduce its risk of loss.
HIGHLIGHTS
Various types of power-of-attorney documents – durable, springing, limited, military, etc.
Differences between an attorney-in-fact, representative payee, and an authorized or convenience signer
Actions an attorney-in-fact can and cannot take on behalf of your accountholder
Handling joint account owners or multiple powers-of-attorney
When is your financial institution liable for the actions of the attorney-in-fact?
TAKE-AWAY TOOLKIT
Important questions to ask when accepting a power-of-attorney
Employee training log
Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
WHO SHOULD ATTEND? Deposit, loan operations, deposit officers, loan officers, customer service representatives, new accounts staff, tellers, compliance personnel, and frontline managers.
ABOUT THE PRESENTER – Elizabeth Fast, JD, CPA, Spencer Fane LLP, is a partner with 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.
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