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
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.
- 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.
Elizabeth Fast, JD, CPA — Spencer Fane LLP
Elizabeth Fast is a partner with Spencer Fane LLP 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.
- $279 – Live Webinar Access
- $279 – OnDemand Access + Digital Download
- $379 – Both Live & On-Demand Access + Digital Download