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Today is: January 24, 2020  
 

 

Upcoming BCG Webinars

BCG Webinars are an optional resource offered once a month over the Web. Topics include Levies and Executions, New Accounts Documentation, Flood Insurance and Doing Business with Family Trusts. Additional Webinars will be posted below as their respective dates approach. To view past Webinar schedules and descriptions, click here or contact us if you have additional questions.  To order past Webinar CD's, click here.

Upcoming BCG Webinars        

  

 

Wire Transfer: Rights and Responsibilities

Thursday, January 23, 2020

10:00 a.m. - 12:00 p.m.

Financial institutions face significant risk exposure from unauthorized or defective wire transfers and that risk can be mitigated by understanding the rights and responsibilities of the institution. As part of this mitigation, we will discuss potential defenses to unauthorized wire transfer claims and the need for using security procedures that are commercially reasonable for any given customer.

Of equal importance is understanding the circumstances under which a wire transfer can be cancelled or amended. Did you know there is an inherent risk as an originator’s bank to act on a customer’s request to cancel or amend a recently sent wire transfer? In fact, not only does requesting cancellation to assist a customer result in the institution indemnifying the beneficiary’s bank, but it may also be a violation of federal regulations.

These and other issues will be explored in detail in this webinar in order to help financial institutions implement appropriate policies and procedures for dealing with both outgoing and incoming wire transfers.

 

 

 

 

 
 
 
 
 
 
 

 

 

The ABCs of the FDCPA

Wednesday, January 29, 2020

10:00 - 11:30 a.m.

 

When collecting consumer debts, California creditors are subject to two bodies of law – the federal Fair Debt Collection Practices Act (Federal FDCPA) and the California Rosenthal Fair Debt Collection Practices Act (Rosenthal Act). The two laws apply to most attempts to collect a consumer loan, which now includes a mortgage loan under amendments made by SB 187, effective January 1, 2020.

The Federal FDCPA and Rosenthal Act combine to establish a crosshatch of rules on how and when a “debt collector” may contact a consumer for purposes of debt collection. Under the Rosenthal Act even first-party creditors are covered as debt collectors and indeed must comply with most of the Federal FDCPA in addition to Rosenthal’s unique provisions. Abusive practices are prohibited as is most contact with third parties such as a debtor’s family members and employer. Even envelope exteriors are regulated.

 

 

 

 

 
 
 
 
 
 
 

 

  

 

Understanding Powers of Attorney

Tuesday, February 25, 2020

10:00 - 11:30 a.m.

 

There are a number of laws governing powers of attorney which makes determining whether to accept any given power of attorney difficult. Further complicating matters, often a power of attorney is not clearly drafted which then raises concerns over whether to permit the attorney-in-fact to access the principal’s financial accounts or safe deposit boxes.

What are the rights of financial institutions when it comes to relying on a power of attorney? Can an institution accept a copy of a power of attorney if the original is not available? What if there are concerns over whether the principal is incapacitated, yet the power of attorney is not durable? How is the principal’s incapacitation even determined? What if there are multiple attorneys-in-fact or multiple powers of attorney?

Join us at this Webinar as we answer these and other questions. As part of our discussion, we will also consider the protections afforded a financial institution when accepting a power of attorney that is covered by the California Probate Code. 

 

 

 

 
 
 
 
 
 
 

 

 

 

Doing Business with Family Trusts

Thursday, February 27, 2020

10:00 a.m. - 12:00 p.m.

 

Family trusts, once the exclusive preserve of the wealthy, have become commonplace. As a result, financial institutions face questions every day on how to deal with trusts and trustees. Trusts are remarkably flexible vehicles, with the result that very few hard-and-fast rules apply. We will address both lending and bank operations issues.

As the baby boomers enter into their twilight years, financial institutions are increasingly facing new issues as to the succession of trustees, bifurcation of trusts (“A” and “B” trusts), and dealing with holders of powers of attorney who think they can manage a trust.

You will receive a downloadable, detailed discussion outline, not just skimpy PowerPoint slides! 

 

 

 

 
 
 
 
 
 
 

 

 

 

Documenting Your Customers

Thursday, March 19, 2020

10:00 a.m. - 12:00 p.m.

 

With all the different types of business entities, lenders and new accounts personnel have challenges in properly identifying their customers or members and in understanding an entity’s legal structure. Customer Identification Program rules impose specific regulatory requirements for identifying borrowers. In addition, the Beneficial Ownership Rule applies. For example, a failure to identify a borrower properly may not only impair the lender’s security interest and put the collectability of the entire loan at risk due to UCC Article 9’s requirements, but also could result in compliance violations. The same can be said if an institution fails to properly identify a new customer opening a deposit account — it could result in any number of compliance violations, including violations of OFAC, BSA and IRS information reporting regulations.

This Webinar will address these issues in a “workshop” format providing checklists for the types of documents that financial institutions should obtain from the various types of business entities.

 

 

 

 

 

 

 
 
 
 
 
 
 

 

 

 

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