2017 Texas Legislative Session Deposit Account Changes - 3 Part Series

This is a series to be held on July 19, 26, and August 2. The prices include all sessions. Each session can also be attended individually.

The 2017 legislative session has ended and now the work begins. There are three (3) issues requiring Texas banks take action on or before September 1, 2017. To help you get the job done in the required time frame, Texas Bankers Association is providing three state-specific webinars. They are being held a week apart to allow you time to digest one issue before moving on to the next. Each session provides an action plan and tools for training affected bank staff. This training is essential for all Texas banks.

Covered Topics:

July 19, 2017 - Uniform Account Form (SB 714)

Since September 2015, Texas Banks have been required to provide account ownership options to consumers when opening a new account or modifying an existing account. Banks could opt to use the statutory “Uniform Single-Party or Multiple-Party Account Selection Form” or a form which includes the ownership descriptions, but with a “varied format”. There has been a lot of confusion and misinformation regarding implementation. Changes made during the 2017 legislative session are designed to address many of the most challenging issues (a help!). However, there is new information to consider and training to be done on or before September 1, 2017.

July 26, 2017 - Durable Power of Attorney Act (HB 1974)

Amendments are broad and sweeping and represent a significant change for banks presented with POAs. Management and senior officers are challenged to absorb all changes, develop policies and procedures and train those charged with accepting POAs on behalf of the bank before the September 1, 2017 effective date. This webinar reviews the new sections of the law and provides an overview of the Durable Power of Attorney Act in its entirety.

August 2, 2017 - Protection of Vulnerable Adults from Financial Exploitation (HB 3921)

HB 3921 adds §280 to the Texas Finance Code clarifying and expanding the requirement found at §48.051 of the Human Resources Code. The new §280 specifically focuses on financial exploitation (a defined term). It provides that a bank employee “shall” file an internal report when financial exploitation of a vulnerable adult is suspected. The bank “shall” investigate any internal report and submit a report to APS. The law requires the bank to “adopt internal policies, programs, plans or procedures” to ensure adherence to the law. This webinar is designed to assist management in the development of the required internal program and train bank staff to recognize signs of financial exploitation of vulnerable adults.

Who Should Attend?

Part 1: The first part is intended for deposit-function decision makers. The remainder will train new accounts and others responsible for opening and maintaining consumer deposit accounts.

Part 2: This is a whole-bank issue – loans, deposit and trust.

Part 3: This is a whole-bank issue. Those charged with developing policies and procedures and training will benefit from the entire presentation. The last part will assist the bank in training employees on the red flags of financial exploitation – what to look and listen for and when to report.