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2023 When a Minor Wants to be a Bank Customer
Program Agenda
July 6, 2023
July 6, 2023
2:30 p.m. - 4:00 p.m. CST
Studies repeatedly show that a bank offering products that are geared towards minors receives a range of benefits, including building trust and brand loyalty with the minor that extends long after the minor becomes an adult. In a world full of financial service providers that are competing with the bank, it is important to understand what the law allows in order to attract and maintain these banking relationships with today's youth.
This webinar will review the ins and outs of Kansas deposit and lending laws that apply to banks wishing to do business with adolescent customers, as well as reviewing federal laws and regulations which may also impact the relationship.
Topics that will be covered:
This webinar will review the ins and outs of Kansas deposit and lending laws that apply to banks wishing to do business with adolescent customers, as well as reviewing federal laws and regulations which may also impact the relationship.
Topics that will be covered:
- Establishing sole and joint ownership savings and checking accounts for minors
- Issuing debit and credit cards to minors
- Allowing overdrafts on a minor's account
- Allowing online access to minors holding bank accounts
- Calculating FDIC insurance coverage on accounts involving minors
- BSA-CIP requirements when dealing with a minor's new account
- Handling deposits for minors who are too young to do business for themselves
- Making a loan to a minor
Program Presenter
Terri D. Thomas, J.D. - EVP/COO, Kansas Bankers Association
With over 40 years of banking experience, Terri brings real world instruction delivered in an upbeat and relaxed style.
**Program fees are based on bank asset size. There is no limit on the number of people that can attend the virtual session from your financial institution. Please login and register one person from your bank and pay based on your bank’s asset size. Then email all other attendees (include attendee’s first and last name, bank location and e-mail) to Natalie Wareham at nwareham@ksbankers.com so that additional attendees can be registered free of charge to receive their own link and login information for the session.
*We understand circumstances arise requiring cancellation - if you cancel up to 5 business days before the program, your registration fee will be refunded.
*Any transmission, retransmission or republishing of the audio or video portion of the seminar is strictly prohibited.
