Skip to content

Red flags with POAs

If an agent requests to deposit a check payable to the principal to the agent's own account, is this an automatic red flag?

If an agent wants to take a check that is payable to the principal and deposit it into his own account, you are on notice of breach of fiduciary duty and you should not allow it. Many agents do not understand the scope of their authority and will not realize this is impermissible.
Learn more about Mary Beth Guard’s webinar
Analyzing and Accepting Powers of Attorney

First published on 07/15/2018

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics