Poor Box Drilling Creates Lawsuits Webinar

Questions regarding the collection of past due box rent, drilling delinquent boxes, securing drilled and inventoried box contents, reporting abandoned property to our state authorities and many other legal and compliance issues have caused great concern and confusion for the safe deposit industry. During this webinar, you will receive current information, step by step procedures and an in-depth explanation about how to handle these issues and how they impact on your financial institution and your safe deposit box renters.

David McGuinn, a nationally known expert in the area of safe deposit, will provide clear concise answers to complicated questions regarding your institution’s responsibility and potential liability. He will also identify and discuss various compliance issues and current lawsuits relating to these issues.

What You Will Learn

  • Why were fifteen financial institutions sued recently after drilling past due boxes?
  • How does the Servicemembers Civil Relief Act (SCRA) apply to delinquent boxes?
  • What would happen if all your unclaimed property was destroyed or disappeared?
  • When are drilled box contents reported to your Unclaimed Property Department?
  • Do you have any ‘€œRight of Offset’€ against a past due renter’€™s deposit account?
  • What seven past due fees should be collected from all delinquent box renters?
  • What does the Unclaimed Property Department do with these box contents?
  • Have there been any lawsuits caused by incorrect box drilling procedures?
  • If cash is found in a drilled box can it be converted and mailed in a check?
  • How do you handle dangerous or illegal contents found in a drilled box?
  • Can you sell these box contents and recover your collection expenses?
  • Who must be present when a past due box is drilled in most states?
  • Can you report a past due box renter to a credit-reporting agency?
  • What careful wording should be used in a FINAL past due notice?
  • What should we do if money, guns or drugs are found in a box?
  • What is the required retention period for drilled box records?
  • Can you legally restrict box access to a delinquent renter?
  • Must these boxes be drilled before reporting to the state?
  • What should you do if you drill the wrong past due box?

Who Should Attend?

This informative program is designed to update security and compliance officers, vault supervisors and attendants, branch managers, auditors, training directors, new account personnel and your in-house legal counsel.

Continuing Education (CE) Credits

This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.

View Delivery Options

Instructor

David P. McGuinn
David P. McGuinn

David P. McGuinn, president of Safe Deposit Specialists, speaks nationwide for numerous financial associations. He is a former Senior Vice President and Cashier with over 50 years of financial experie... read more.

Course TitleCreditsStart DateStart TimeDelivery TypeDelivery OptionInstructor / LocationPrice
Poor Box Drilling Creates Lawsuits0.25 Any AnyWebinarSix Month On-Demand Recording David P. McGuinn$295.00 Register Now
Poor Box Drilling Creates Lawsuits0.25 Any AnyWebinarCD-ROM Video Recording David P. McGuinn$345.00 Register Now
Delivery Options

LIVE WEBINAR:
INCLUDES 7 DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.

CD-ROM VIDEO:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.

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