Release date: October 25, 2016
Duration: 90 Minutes
Credit unions are in the risk management business. Accepting and cashing checks, making loans, applying debits and credits to accounts in the form of Automated Clearinghouse transactions and Electronic Funds Transfers are all part of maintaining accounts for consumers and businesses. These very same items represent a risk to the credit union. In this webinar we explore a variety of ways to protect the credit union from losses due to fraud (by accountholders or third parties) mishandling of accounts or items or misunderstanding of laws and regulations that predominantly benefit the consumer. From account opening to termination, employees have the ability to help protect the credit union (and in some cases the member) from loss.
- How long can a hold be placed on a check?
- Who is allowed to negotiate checks payable to an estate or a business?
- What are the requirements for reimbursing members for unauthorized transfers?
- Are we responsible for forged endorsements and signatures on checks?
- When are accountholders responsible for check losses?
- Where do we deposit funds for SSA Rep Payees?
- Why should we be concerned if there are no trade lines on a credit report?
MEET THE PRESENTER
Mary-Lou Heighes is President and founder of Compliance Plus, Inc., which has been helping financial institutions with the development of compliance programs since 2000. She provides compliance training all over the country for various trade associations and financial institutions, and also speaks at numerous financial institution conferences throughout the country. Mary-Lou has been an instructor at regulatory compliance schools, and conducts dozens of webinars for organizations throughout the country.
Mary-Lou has been involved financial institutions since 1989. She has over 20 years worth of compliance experience. Before starting Compliance Plus in 2000, she spent five years working in the trenches and seven years providing compliance assistance through a state trade association Information Hotline, working on state and federal laws and regulations and writing and editing advisory bulletins on changes to regulations affecting financial institutions.