Powers of Attorney & Deposit Accounts: Variations, Permissions, Red Flags, Multiple Signers

After This Webinar You’ll Be Able To:

• Distinguish among the various types of power of attorney (POA) documents (durable, springing, limited, military, etc.) and know when they can be used
• Understand the fiduciary duty owed by the attorney-in-fact and the actions they can and cannot take
• Identify the red flags that might indicate the attorney-in-fact is exceeding their authority
• Explain the difference between an attorney-in-fact, representative payee, and an authorized or convenience signer on an account
• Understand the special requirements regarding joint ownership accounts and trust accounts

Webinar Details
Powers of attorney are complex legal documents used on a daily basis to transact business on deposit accounts. If your institution doesn’t handle a specific situation properly, it can be exposed to significant risk if the attorney-in-fact intentionally (or innocently) acts outside the scope of their authority. This webinar will explain everything you need to know when dealing with powers of attorney on deposit accounts and steps you can take to reduce risk.

Who Should Attend?
This informative session will be useful to all deposit operations personnel, including new accounts personnel, deposit account officers, tellers, attorneys, compliance personnel, auditors, and managers.

Take-Away Toolkit

• Checklist of important questions to ask before accepting a POA on a deposit account
• Employee training log
• Interactive quiz
• PDF of slides and speaker’s contact info for follow-up questions
• Attendance certificate provided to self-report CE credits

NOTE: All materials are subject to copyright. Transmission, retransmission, or republishing of any webinar to other institutions or those not employed by your agency is prohibited. Print materials may be copied for eligible participants only.

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