Events Calendar

Webinar: Unpacking NCUA’s Joint Ownership Rule: New-Found Flexibility on Share Accounts
Monday, May 17, 2021, 03:00pm - 04:30pm

Get the scoop on NCUA’s recently finalized rule on joint accounts and share insurance. Learn about the flexibility provided under the new rule. It’s now easier than ever to meet the “signature” requirements using remote access.

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Break down the mechanics of share insurance coverage
  • Appreciate the full impact of the new rule
  • Avoid common account ownership landmines
  • Employ account opening best practices
  • Deploy five tips to maximize share insurance

WEBINAR DETAILS

The NCUA recently issued a final rule regarding share insurance on joint accounts. The new rule provides greater flexibility by creating an alternative method to satisfy the membership card or account signature card requirements under NCUA Rule 745.8. The trick is to understand what the rule does and doesn’t accomplish. Most importantly, the rule does not impact the importance of obtaining signatures at account opening to satisfy the requirements of applicable state law.

Under the prior rule, additional insurance was only added to a “qualifying joint account.” To meet that requirement, a co-owner had to personally sign the account documentation, as well as have a right to withdraw on the same basis as the other co-owners. The new rule allows a credit union to satisfy the technical requirements by proving they issued a remote access device or evidence of account usage by each co-owner. This provides much greater flexibility, especially during the pandemic.

WHO SHOULD ATTEND?

The information in this session is designed for credit union executives, CFOs, deposit managers, branch managers, auditors, compliance personnel, new accounts staff, and anyone interested in share insurance and the account opening process.

TAKE-AWAY TOOLKIT

  • Maximizing share insurance checklist
  • Regulatory guidance
  • Employee training log
  • Interactive quiz

SPEAKER: David Reed, Reed & Jolly, PLLC

Attorney, author, consultant, and nationally-recognized speaker, David Reed is a partner in the law firm of Reed & Jolly, PLLC. He provides guidance to financial institutions on establishment and revision of policies and procedures, organizational compliance, collections, security, contractual agreements, regulatory matters, and corporate governance. His engaging speaking style has made him a nationwide lecturer on regulatory compliance, consumer lending, bankruptcy, and collections.

A former trial attorney and vice president and general counsel of a large regional financial institution, David is also a Certified Fraud Examiner. He is particularly known as an expert in the areas of operations, bankruptcy, and collections. He has trained state and federal examination staff on numerous issues, including BSA, ID theft red flags, SAFE Act, third-party contract management, and bankruptcy.