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Handling Right of Set Off: What You Need to Know Webinar

June 30, 2010
1:00 p.m. – 2:30 p.m. MST

$159 Webinar Only

$159 CD Only

$179 Webinar and CD

 

A credit union has the right to set off its member’s account if certain legal requirements are satisfied.  This seminar will explain these requirements and will address the steps a credit union must take before exercising its right of set off. 

 

If a member defaults on a loan, when can the credit union apply money from the member’s checking account to pay the loan?  Does the member have to be notified before the credit union exercises its right of set off?  What if the member’s checking account has more than one owner?  If the credit union receives a garnishment from another creditor, can the credit union set off before honoring the garnishment?  Learn the answers to these questions and more.

 

HIGHLIGHTS

    • Fundamentals of the right of set off
    • Differences between set off, garnishment, and foreclosure of security interest
    • What legal requirements must be satisfied before set off is permitted?
    • Competing claims to account – who wins
    • How the automatic stay in bankruptcy affects the right of set off

    Presenter:   Elizabeth Fast, JD & CPA

    Elizabeth Fast, Esq. 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 known as Bankers Choice.  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.

     

     

     

    Get Connected: It’s as easy as 1 - 2 - 3

    1. Fill out the information below and submit registration.

    2. Prior to the conference, you will receive a special instruction sheet outlining the computer login and telephone dial-in procedures, your password, a specific toll-free telephone number and handout materials.

    3. On the day of the conference gather all the attendees around your computer and speakerphone, distribute copies of the handout material, and enjoy the conference.

     

    Cancellation/Payment Policy: Substitutions are always welcome. No-shows and cancellations received five days or less prior to the event will be invoiced for the full registration fee. Please do not send payment; your credit union will be billed. Password information and materials will be e-mailed 48 hours prior to the session.

    Credit Union Name

    City State Zip

    Contact Person Phone Number

    Email   

    $159.00 Webinar Only, per telephone connection

    $159.00 CD Only

    $179.00 Webinar and CD