What You'll Learn
Many large nationwide institutions are phasing out their safe deposit services and not installing any boxes in new branches. They regard them as a headache, expensive to install, complicated to operate, maintain and not very lucrative.
There are an estimated 30 million safe deposit boxes now rented in thousands of nationwide financial institutions. These boxes are offered to consumers within a highly regulated industry but there are very few laws governing how to run a safe deposit operation. There are also no guidelines to follow if a financial institution decides to eliminate this service.
This presentation provides answers for the most frequently asked “phasing out” questions and addresses the many important “Pros & Cons” for continuing or discontinuing this service.
Topics covered in this session
- Why are nationwide institutions really eliminating this service?
- What could happen if safe deposit services are discontinued?
- If service is discontinued how much notice must be given?
- What safe deposit operating expenses could you save?
Who Should Attend
- Safe deposit supervisors
- Vault attendants
- Compliance officers
- Auditors
- Security officers
- In-house legal counsel
Accreditations
CPE/NASBA
Noggin Guru, Inc. dba Lorman Education Services and BankersHub is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539.
Please note: You must attend at least 50 minutes to obtain credit. Final CPE approval belongs with each state's regulatory board. Credit is based on a 50-minute credit hour.
For more detailed information about the course, including the outline, content, and objectives, please refer to the 'Description' tab on this webpage.
Field Of Study:
Prerequisite: Basic knowledge of the banking industry, business, or law
Level of Knowledge:
Advanced Preparation: None
Teaching Method: Seminar/Lecture
Delivery Method: Group Internet Based
Requesting CE:
Upon completion of this course, please email
creditrequest@nogginguru.com
to obtain a CE certificate.
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