2023 Safe Deposit Box Update

Date:

Aug 10, 2023

Location:
Virtual

Printable Brochure 

Did you inherit the safe deposit area and then start wondering what liability might exist? Historically, this responsibility has been routinely passed from employee to employee with little attention given to existing procedures or documentation. Unfortunately, only after a serious employee mistake or a disaster, burglary or lawsuit occurs, does management turn its attention to this area.


Who Should Attend:

These informative programs will benefit security officers, safe deposit supervisors, vault attendants, compliance officers, auditors and your in-house legal counsel.

Agenda

Both days August 10, 2023 and August 17, 2023

9:30 a.m.                   Registration & log In
10:00 a.m.                   Program Begins
12:00 Noon               Program Adjourns
EST

Topics

Part 1 – Safe Deposit Security and Disaster Recovery Issues
(August 10th, 2023)

  • Why did the FBI and DEA drill EVERY renter’s box and seize ALL their box contents?
  • How did $400 million in box contents disappear during a large vault burglary?
  • How did five (5) years of drilled box contents vanish during a burglary?
  • How can FDIC or NCUA signs, logos or brochures create liability?
  • Why will you lose any lawsuit if renters are left in the vault alone?
  • How should employees be trained to answer security questions?
  • Why should renters receive a “No Insurance” disclosure form?
  • What thirty questions will always be asked in any lawsuit?
  • Why are self-service box renters now suing for millions?
  • Are you leaving your locksmith in the vault alone? “BIG MISTAKE"


 

Speaker(s)

David McGuinn is a nationally known safe deposit box expert and answers thousands of regulatory, security and compliance questions on his “Safe Deposit Question and Answer Hotline”. He knows firsthand what to look for, from the most common errors to the not so common, but potentially costly mistakes. This timely presentation contains valuable information about the most frequently asked safe deposit legal questions. Whether you have 50 or 5,000 boxes, this comprehensive presentation will help you review your current state and federal regulations, security procedures and view very interesting safe deposit lawsuit TV specials.

Additional Information

Part 2 – Safe Deposit Regulatory Compliance and Legal Issues
(August 17, 2023)

  • Why was the wrong box drilled and all contents remitted as unclaimed property?
  • Who can legally access and remove contents from any deceased renter’s box?
  • What seven suspicious safe deposit activities require you to submit a SAR?
  • Can you title a lease as a “living trust” or add a “payable on death” clause?
  • What should you do if dangerous contents are found in a past due box?
  • Why are institutions being sued after incorrectly drilling renter boxes?
  • Does the Servicemembers Civil Relief Act apply to past due boxes?
  • What federal wording should be used in a FINAL past due notice?
  • Does “Beneficial Ownership of Legal Entities” apply to boxes?
  • Should a power of attorney be used to enter any renter’s box?
Fees

IBA Members

$275 includes both Sessions

100% Surcharge for nonmembers.

Participation in IBA programs is limited to members, associate members, and nonmembers from an eligible membership category at applicable member or non-member rates. 100% Surcharge for Nonmembers.

location

The seminar will be held virtually as two half-day trainings on August 10 and 17, 2023.


 

Association Contact

For more information please contact Beth Abney via e-mail at babney@indiana.bank or call 317-387-9380.

Cancellation Policy

Within three or more business days prior to the day of an educational program, no cancellation charge will be assessed. Within two days prior, 50% of the fee is assessed.  Refunds are not provided for cancellations 1 day prior or absences on the day of the program.  Substitutions are welcome at any time.