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Signature Card Legal and Compliance Issues

Gain an understanding of what a signature card is and specific regulatory requirements that need to take place.

As the world speeds onward through the digital age, depository bankers frequently find themselves trying to synthesize archaic rules with the realities of cutting-edge technology. The signature card is one aspect of depository banking that has been slow to evolve. The regulatory requirements are often so murky that banks pay to store hard copies indefinitely, cling to old document templates creating potential liability, and are generally hesitant to evaluate the operational, regulatory, and legal standards that have been in place for many years. With the influx of online banking into the marketplace, brick and mortar banks must take a hard look at these areas and make prudent decisions about how they intend to evolve. While online banks must figure out how to adapt their business model and practices to rules that were not written with them in mind. This topic helps compliance personnel, branch administration, branch managers, and general counsel of depository institutions navigate the signature card rules that impact their business. Beyond the rules, the material also provides information about the choices depository institutions have and the risks and rewards of those choices, so that its leadership can develop and implement an evolutionary plan consistent with the law which protects the interests of both the institution and its customers.

Runtime: 107 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Operational Standards

  • Data Verification
  • Document Retention Electronic vs. Paper Storage
  • QA/QC Concerns (Image Verification, Changes to Cards)
  • Ownership Types and Choices
  • Multiple Accounts

IRS and Regulatory Issues

  • W-8/W9 Form Requirements
  • Regulatory Alphabet Soup: P, E, DD, and CC

Legal Compliance

  • Contract Provisions (Setoff, Arbitration Clauses)
  • Consumer Accounts vs. Commercial Accounts
  • State Law Variations
  • UCC3 and UCC4

What's Next?

  • Regulatory Landscape
  • Predictions of the Future
  • How to Stay Informed
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at ondemandinfo@lorman.com or call us at 866-352-9540.

This course was last revised on June 29, 2018.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.75
     
  • Alaska attorneys may receive 1.75 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.8
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.8 hours credit.
     
  • Arizona CLE 1.75
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.75 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.75
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.75 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.75
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.75 CLE credit hours.
     
  • IL CLE 1.75
     
  • This course was approved for a total of 1.75 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.8
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.8 credit hours.
     
  • MT CLE 2.0
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 2.0 CLE credits.
     
  • ND CLE 1.75
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.75 hours of CLE credit.
     
  • NH MCLE 1.8
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 105 Minutes.
     
  • NJ CLE 2.1
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 2.1 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 2.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
     
  • TN CLE 1.77
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.77 hours of credit.
     
  • VT CLE 1.75
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.75 hours of self-study CLE credit.
     
  • WA CLE 1.75
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.75 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 2.0
     
  • This program has been approved by the Board of Bar Examiners for 2.0 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 2.2
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 2.2 MCLE hours.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Ashley M. Elmore Drew, Esq.

Ashley M. Elmore Drew, Esq.

Greenspoon Marder LLP

  • Senior counsel in the Tampa office of Greenspoon Marder LLP
  • Provides legal and regulatory compliance guidance to business, real estate, and financial services clients on a wide range of Federal and State topics, including but not limited to the following: RESPA, SCRA, TILA, MLA, PACE Financing, Vendor Management, ECOA, FDCPA, FCRA, FACTA, UDAAP, FATCA, FACTA and myriad regulations.; she also represents clients in regulatory and consumer defense litigation
  • Was featured in the Tampa Bay Business Journal, discussing the impact of the election on Dodd-Frank and the effect on community banks
  • Has written the following articles, “Opposition Mounts After Florida Court Eviscerates Lis Pendens," published by Thompson Reuters in the Consumer Financial Services Law Report, Vol. 20, Issue 11, November 6, 2016; "CFPB Issues Examination Procedures for the Military Lending Act Rule," published by Burr Consumer Finance Litigation Blog on October 3, 2016; "New Risk from New Rules on Banker Pay," published by BAI, Banking Strategies on July 6, 2016; "The Best Defense is a Good Strategy: Planning for the Arbitration Rule," published by Burr Consumer Finance Litigation Blog on June 27, 2016; "Not Just the C-Suite: Regulators Issue Broad New Proposed Rule on Banker Compensation," published by Burr Consumer Finance Litigation Blog on April 25, 2016; "CFPB Receives Strategy Lesson - Court Holds it Overreached by Investigating For-Profit School Accreditation," published by Burr Consumer Finance Litigation Blog on April 27, 2016; "Do We Want the CFPB to Regulate the Practice of Law?," published by Burr Consumer Finance Litigation Blog on April 29, 2016; "NCUA Proposes Rule Easing Credit Union Commercial Property Occupancy Rule," published by Burr Consumer Finance Litigation Blog on June 29, 2016; and "Ctrl Alt Delete: CFPB says Mortgage Servicers Need Technological Reboot," published by Burr Consumer Finance Litigation Blog on June 29, 2016
  • Can be contacted at 813-769-7038 or Ashley.ElmoreDrew@gmlaw.com
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 402922
Published 2018
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