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Controlling the Risks of Power of Attorney Documents

This webinar will provide attendees with the best practices and pitfalls of dealing with power of attorney documents.

OnDemand
Recorded Tuesday,
October 4th, 2022
Presented by Terri D. Thomas
1h 30m total length
$279.00 or 1 Token

Includes: 30 Days OnDemand Playback, Presenter Materials and Handouts

  • Compliance
  • Risk Management/Legal
  • Bank Legal Counsel
  • Branch Manager
  • Compliance Officer
  • Consumer Lender/Retail Banker
  • Deposit Operations Manager/Specialist
  • Loan Closer
  • Loan Operations Manager/Specialist
  • New Accounts Representative
  • Private Banker
  • Teller
  • Trust Officer

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Financial institutions are required to complete transactions for customers involving Power of Attorney documents. To protect your financial institution's interests when using these documents, it is imperative to understand the basic do's and don'ts. This presentation will provide financial institution personnel with best practices to use when dealing with these complex legal documents.

This session will focus on the best practices that can be employed by banks rather than looking at any particular state’s laws.

What You'll Learn

  • Relationships among the customer, the attorney-in-fact and the financial institution
  • Difference between a durable and non-durable power of attorney
  • How a financial institution determines if a power of attorney is general or limited
  • Steps a financial institution must take to protect itself when relying on a Power of Attorney
  • Language for the Power of Attorney document when completing a transaction for the attorney-in-fact
  • How a Power of Attorney is revoked and when that revocation is binding
  • What transactions create the greatest risks for financial institutions relying on power of attorney documents
  • What attorney-in-fact representations a financial institution may typically rely upon
  • Out-of-state powers of attorney

Who Should Attend

Financial institution employees involved with opening new accounts, deposit or loan documentation and operations will find this seminar very useful.

Terri D. Thomas

Instructor Bio

Terri D. Thomas, JD is the Director of the Kansas Bankers Association Legal Department, which specializes in providing compliance and legal assistance to Kansas banks.

Terri has worked with financial institutions for over thirty-nine years in various capacities. Most notably, she served for fourteen years as in-house legal counsel and trust officer for Bank of America and its Kansas predecessors. She has also served as a trust department manager and branch manager.

Receiving her Bachelor of Arts degree from Kansas State University in 1985, Terri continued her education at Washburn University School of Law and obtained her Juris Doctor in 1988. She has served as an Adjunct Professor at Washburn University School of Law in Topeka, Kansas and the University of Kansas School of Law in Lawrence, Kansas, and is a frequent seminar presenter for financial associations in the Midwest.

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