Monthly Telephone Briefing

BCG offers its members monthly Telephone Briefings on legal and regulatory matters. Also, you have the option to listen to audio presentations of meetings archived for up to 12 months after their original presentation dates. This benefit is called, “Listen While You Work.” You simply select a topic, minimize the screen, and listen to a streaming audio presentation while you work at your desk.

Please feel free to sign up annually, register for the next scheduled BCG Monthly Telephone Briefing or download an archived Handout below.

Current BCG Monthly Telephone Briefing Topic(s)

Friday, October 18, 2019
12:00 - 1:30 p.m.

Combatting Elder Financial Abuse

With its pervasiveness and persistence, it is no surprise that elder financial abuse has been dubbed the “crime of the 21st century.” Fraudsters are constantly changing their tactics and financial institutions are uniquely positioned to detect elder financial abuse and take appropriate action to prevent its occurrence. Join us as we revisit familiar concepts related to elder financial abuse, including compliance with the California Financial Elder Abuse Reporting Act of 2005, and as we discuss more recent agency guidance on trends and best practices. We will also explore the intersection between suspected elder financial abuse reporting and privacy expectations. Handout to be posted Thursday, October 17th.

Treasury Reclamations

While it is an unfortunate consequence, dealing with reclamations from the Department of the Treasury can be a necessary evil for a financial institution that desires to remain competitive by providing electronic deposit services to its customer base. The applicable Treasury regulations (aka, the “Green Book”) govern U.S. federal government payments (benefit and nonbenefit) made using the automated clearing house method through federal reserve banks and financial institutions and to recipients maintaining accounts at these financial institutions. The regulations describe the procedures to be followed, define the obligations and responsibilities of the participants in these ACH payments and state the terms of the contract between the federal government and those participants. The Treasury regulations also prescribe the liabilities of financial institutions to the federal government arising from payments to deceased recipients, and deceased beneficiaries, of federal benefit payments. This presentation will focus on the “reclamation” process following the death of a depositor, including how to limit a financial institution’s liability upon receiving notice of a recipient depositor’s death and how to respond to a Notice of Reclamation from the Treasury.  Handout to be posted Thursday, October 17th.