Safe Deposit Regulatory Compliance & Security (Virtual)

This program was originally scheduled for March 30 but was postponed due to a conflict for the speaker. 

May 17, 2023
10am-12pm and 1pm-3pm

Member Fees: $275 (Virtual); $375 (Recording); $100 Add On Recording Fee with Virtual Registration
Non-Member Fees: $375 (Virtual); $475 (Recording); $100 Add On Recording Fee with Virtual Registration  

Please note: Certificates will only be emailed to registered attendees following the program. We will verify attendance in Zoom. If you register for the recording, we will not be able to provide a certificate because we will not be able to track attendance.

Did you inherit the safe deposit area and then start wondering what liability might exist? Historically, this responsibility has been routinely passed from employee to employee with little attention given to existing procedures or documentation. Unfortunately, only after a serious employee mistake or a disaster, burglary or lawsuit occurs, does management turn its attention to this area.

This virtual seminar will answer many thought-provoking questions and address the following topics:

Security and Disaster Recovery Issues: (10:00am – 12:00pm)

  • Why did the FBI and DEA drill boxes and seize all the renter’s contents
  • Why did five (5)years of drilled box contents vanish during a burglary?
  • How did $400 million in contents disappear during a vault burglary?
  • How can FDIC or NCUA signs, logos or brochures create liability?
  • Why will you lose any lawsuit if renters are left in the vault alone?
  • How should employees be trained to answer security questions?
  • Why should renters receive a “No Insurance” disclosure form?
  • Why are many nationwide vault burglaries now on the rise?
  • What thirty questions will always be asked in any lawsuit?
  • Are you leaving your locksmith in the vault alone? “BIG MISTAKE"

Regulatory Compliance and Legal Issues: (1:00pm – 3:00pm)

  • Why was a wrong box drilled and the contents remitted as unclaimed property?
  • Who can legally access and remove contents from any deceased renter’s box?
  • What seven suspicious safe deposit activities require you to submit a SAR?
  • Can you title a lease as a “living trust” or add a “payable on death” clause?
  • What should you do if dangerous contents are found in a past due box?
  • Why are institutions being sued after incorrectly drilling renter boxes?
  • Does the Servicemembers Civil Relief Act apply to past due boxes?
  • What careful wording should be used in a FINAL past due notice?
  • Does “Beneficial Ownership of Legal Entities” apply to boxes?
  • Should a power of attorney be used to enter a renter’s box?


This informative program will benefit security officers, safe deposit supervisors, vault attendants, compliance officers, auditors and your in-house legal counsel.

David P. McGuinn, President and founder of Safe Deposit Specialists, is a former Senior Vice President and Cashier with over 50 years of safe deposit experience and is often referred to nationwide as the safe deposit GURU. In all 50 states he has trained over 350,000 safe deposit personnel since 1969 and is a featured speaker for the American Bankers Association, National Association of Federal Credit Unions, Independent Community Bankers of America and over 100 other financial associations. He has been interviewed by all major TV networks and by hundreds of nationwide financial publications on current safe deposit issues. McGuinn has created numerous training programs, compliance brochures, and his Policy and Procedures, Regulatory/Compliance, Box Relocation, Marketing/Profitability and Disaster Recovery (Flood & Fire) Manuals are now recognized as the accepted standard for the safe deposit industry. 

5/17/2023 10:00 AM - 3:00 PM


Thursday, 30 March 2023

10:00 AM - 3:00 PM
3/30/2023 10:00 AM

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