Liability lawsuits against financial institutions are increasing. Making a mistake in the consumer collection process can cause substantial damages. Therefore, it is important to understand the proper procedures and avoid liability. This webinar will explain all aspects of the collection process, including collection letters, default notices, consumers’ right to cure, repossession of collateral, foreclosure, setoff on deposit accounts, and reporting to credit agencies.
- When is the proper time to start the collection process?
- Right to cure notices
- Proper acceleration and foreclosure
- Conducting self-help repossession under UCC Article 9
- Aspects of a "commercially reasonable” sale
- Exercising the financial institution’s right of setoff
- TAKE-AWAY TOOLKIT
- Checklist that your financial institution can use to ensure you don’t forget a step in the collection process
- Employee training log
- Quiz you can administer to measure staff learning and a separate answer key
Attendance verification for CE credits provided upon request.
Who Should Attend?
This informative session will benefit loan officers at all levels, loan operations personnel, credit administration staff, collectors, compliance officers, attorneys, managers, and others involved in the collection process.
About the Presenter: – Elizabeth Fast, JD, CPA, Spencer Fane Britt & Browne LLP
Elizabeth Fast is a partner with Spencer Fane Britt & Browne LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division. She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.
Lending Council members receive a 10% discount
|Over $75 million
|$7 - 75 million
|Under $7 million
Scholarships are available for all KCUA education events. Scholarships pay 100% of registration fee for credit unions under $25M, 50% for credit unions between $25-$75M and 25% for credit unions over $75M.
Cancellation Policy: Sorry, no cancellations are allowed after connecting instructions and handout materials are distributed to registrants. Substitutions are welcomed and encouraged.
Please note: The live webinar option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.