Controlling the Risks of Power of Attorney Documents 2023 | Iowa Bankers Association | 3 October 2023 | Webinar

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 does a financial institution determine if a power of attorney is general or limited
• Steps must a financial institution take to protect itself when relying on a power of attorney
• Language the financial institution should look for in the power of attorney document when completing a transaction for the attorney-in-fact
• How is a power of attorney revoked and when is that revocation binding on the financial institution?
• Transactions that create the greatest risks for financial institutions relying on power of attorney documents
• What attorney-in-fact representations may a financial institution typically rely upon
• How a financial institution should handle 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.

2023 Speaker

INSTRUCTOR:

Terri D. Thomas
Director, Kansas Bankers Association Legal Department