Alert! FDIC Rules Change for Trusts and Mortgage Servicing Accounts

The Federal Deposit Insurance Corporation is amending its regulations governing deposit insurance coverage. The amendments simplify the deposit insurance regulations by establishing a “trust accounts” category that governs coverage of deposits of both revocable trusts and irrevocable trusts using a common calculation, and provide consistent deposit insurance treatment for all mortgage servicing account balances held to satisfy principal and interest obligations to a lender.

The rule is effective on April 1, 2024.

Covered Topics

  • Merger of Revocable and Irrevocable Trust Categories
  • Calculation of Coverage
  • Eliminating Certain Requirements Eligible Beneficiaries
  • Retained Interests and Ineligible Beneficiaries’ Interests
  • Future Trusts Named as Beneficiaries
  • Naming of Beneficiaries in Deposit Account Records
  • Presumption of Ownership
  • Bankruptcy Trustee Deposits
  • Deposits Covered Under Other Rules
  • Institutional Trusts
  • Mortgage Servicing Accounts

Who Should Attend
New Accounts, Deposit Compliance, Deposit Operations, Branch Staff, Training, Personal Bankers, Private Banking, and all Deposit Staff.

Instructor Bio
Deborah Crawford is the President of Gettechnical Inc., a Virginia based training company. She specializes in the deposit side of the financial institution and is an instructor on IRAs, BSA, Deposit Regulations and opening account procedures. She was formerly with Hibernia National Bank (now Capital One) and has bachelor’s and master’s degrees from Louisiana State University. She has 30+ years of combined teaching and banking experience.

Registration Options
Live Access, 30 Days OnDemand Playback, Presenter Materials and Handouts $279

Available Upgrades:

  • 12 Months OnDemand Playback + $110
  • 12 Months OnDemand Playback + CD + $140
  • Additional Live Access + $75 per person
Tags:

Date

May 19 2022
Expired!

Time

1:30 pm - 3:30 pm

Cost

$279.00

More Info

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