The Right of Setoff: What Bankers Need to Know

The right of setoff is a complicated, but very effective, tool for collecting debts owed to a bank. Learn the best practices and dangers that can arise when using this process.

Right of setoff is used frequently in the banking industry when trying to collect on past-due debts owed by customers. Unfortunately, many bankers don’t understand the legal requirements and procedures necessary to use this process.

The risks of using the process incorrectly can be costly to your financial institution. On the other hand, successfully using the right of setoff can protect your financial institution from significant financial losses.

Do you know when the right of setoff is allowed and when it isn’t? Do you know if your financial institution has a statutory or contractual right of setoff? Do you understand the financial risks of using your setoff rights incorrectly?

If you don’t know the answers to these questions, make sure to attend this valuable webinar. (This webinar does not discuss the procedures mandated by particular state laws.)