Description
RELEASE DATE: APRIL 3, 2023
DURATION: 60 MINUTES
Laws and regulations dictate that when there has been no activity in an account or checks and certificates have not been cashed the credit union is required to turn those funds over to the state for safekeeping until the owner comes forward. This webinar focuses on the steps the credit union must take before that happens. We will look at the timeframes for dormancy, the upfront disclosure required at account opening, the notification requirements and most importantly, what constitutes activity that will save the funds from having to be escheated to the state.
This webinar is designed for those employees involved in the escheatment process, but would also benefit branch managers, frontline staff and call center personnel. Audit and compliance may find this information useful as well.
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.