2024 Safe Deposit Compliance & Legal Update

About the Speaker(s):

Dave McGuinn

David P. McGuinn, President of Safe Deposit Specialists, is a former banker with 50 years of safe deposit experience and is often referred to nationwide as the safe deposit GURU. In all 50 states he has trained over 350,000 safe deposit employees and managers and has served the industry as President of the American Institute of Banking and the American, Texas and Houston Safe Deposit Associations. Dave is a featured speaker for the American Bankers Association and National Association of Federal Credit Union TV networks and has been interviewed by the Wall Street Journal, Money Magazine, New York Magazine, Associated Press, National Public Radio (NPR), British Broadcasting Corporation (BBC), AARP, Bottom Line Financial, FDIC, CUNA, CNN, CBS, ABC, FOX, NBC Nightly News, Inside Edition, Crime Watch and Court TV on current safe deposit issues. McGuinn has created numerous video training programs and his Regulatory/Compliance Manual, Policy and Procedures Handbook and Disaster Recovery manuals are now the accepted standard for the industry. www.sdspec.com Dave has served as a BOL Guru since 2001.Dave is a featured speaker for the American Bankers Association and the National Association of Federal Credit Union's TV network and has been interviewed by the Wall Street Journal, Dow Jones Money Watch, Bottom Line Financial, Washington Post, New York Magazine, Associated Press, Money Magazine, AARP, National Public Radio, CUNA, FDIC, Court TV, CNN, CBS, ABC and NBC Nightly News on current safe deposit issues.

McGuinn has created numerous safe deposit operations, marketing, audit, security, disaster and compliance manuals, brochures, forms, training videos and Internet/audio training programs. His safe deposit products and training seminars are now recognized as the recommended standard for the financial industry. All of his safe deposit resource items can be reviewed at www.sdspec.com.

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Dave McGuinn

Program Content:

Poor box relocations, recent law enforcement (search and seizure) vault raid, incorrect box drillings, sloppy recordkeeping and many nationwide financial institutions now eliminating safe deposit box services, have significantly impacted our industry. Following these events, institutions have unfortunately been confronted with tough decisions, challenges, significant lawsuits and damaging newspaper and unwanted TV coverage.

Did you inherit the safe deposit area and then start wondering what liability might exist? Historically, this responsibility has been routinely passed from one employee to another with very little training or attention given to existing safe deposit procedures. recordkeeping or documentation. Unfortunately, only after finding a mistake, experiencing a vault raid or a lawsuit occurs, does management turn its attention to this area.

Whether you have 50 or 5,000 boxes, this presentation provides a realistic and well-organized method of reviewing and auditing your procedures before a burglary, catastrophe or a lawsuit occurs. Your speaker knows firsthand what to look for to eliminate these problems, from the most serious to the not so common, but potentially costly mistakes. This presentation will help you review your own internal compliance and operating procedures.

What You Will Learn:

This presentation answers many thought-provoking questions and addresses the following issues:

Why are many nationwide financial institutions eliminating all their safe deposit box services?

How did poor USA Patriot Act recordkeeping cause a lawsuit and a future TV reporter’s visit?

What procedures must be followed, and notification given when box rentals are eliminated?

What happens if you drill the wrong box, and report the contents as unclaimed property?

Why did law enforcement raid a safe deposit vault and seize all the renter’s contents?

Why did box contents disappear when a facility is closed, and boxes were relocated?

How can FDIC & NCUA signs, logos and brochures create safe deposit box liability?

What seven (7) suspicious safe deposit activities require you to submit a SAR?

How should employees be trained to answer consumer insurance questions?

What ten questions will always be asked in any safe deposit box litigation?

Who Should Attend?

This informative program will benefit security officers, safe deposit supervisors, vault attendants, compliance officers, auditors, branch managers and your in-house legal counsel.