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How to Avoid Safe Deposit Litigations

Friday, January 17th, 2020   10:00 am - 12:00 pm CT

Length: 2 hrs        Sponsored by Bank Webinars

Click Here to register $265.00

Click Here to register and receive CD recording $395.00

Recently financial institutions have experienced significant disappearance claims and very large lawsuits which resulted in many nationwide losses and very expensive litigations.

What did they do wrong? Most of these disappearance claims and lawsuits are a direct result of offering the new self-service box concept, insufficient employee training, incorrect box drilling and safekeeping procedures, unauthorized vault access, improper box relocations, vault burglaries, flooded vaults, sloppy record keeping and retention and all the news media coverage that inevitably follows.

Regardless of the size of your safe deposit operation, this presentation provides a realistic and well-organized method of reviewing your procedures before a lawsuit occurs. Your presenter knows firsthand what to look for, from the most common errors to the not so common, but costly mistakes. This program will help you review specific and critical internal procedures.

What You Will Learn

  • Why can offering self-service boxes cost financial institutions millions in losses?
  • How can the SCRA create significant liability when delinquent rent is collected?
  • Why did a significant fire cause 1,300 box renters to file a class action lawsuit?
  • What terrible things can happen if you’re leaving anyone in your vault alone?
  • Why did numerous safe deposit disappearance claims occurred recently?
  • How did poor "Box Relocation" procedures cause a $5,500,000 lawsuit?
  • What thirty questions will always be asked in any safe deposit lawsuit?
  • Why was an institution sued for $30 million after an internal box theft?
  • Why did sloppy box drilling procedures create a $4,500,000 litigation?
  • Have you seen the locksmith tools that will open boxes in seconds?
  • Why did several vault burglaries catch “Inside Edition’s” attention?
  • What caused CBS to create three recent safe deposit TV specials?
  • Are you leaving a locksmith in your vault alone? “BIG MISTAKE!”

Who Should Attend?

This informative program is designed to update safe deposit supervisors, vault attendants, cashiers, branch managers, compliance officers, auditors, training directors, security officers, new account personnel and your in-house legal counsel.


David P. McGuinn, president of Safe Deposit Specialists, speaks nationwide for numerous financial associations. He is a former Senior Vice President and Cashier with over 45 years of financial experience and is often referred to nationwide as the safe deposit GURU. As a consultant he has trained over 350,000 safe deposit personnel since 1969, in programs offered in all 50 states. Dave is past president of the American Institute of Banking and the American, Texas and Houston Safe Deposit Associations.

He has written numerous financial articles and has been interviewed by the New York Times, Wall Street Journal, Money Magazine, New York Magazine, Reader’s Digest, Fortune Magazine, Washington Post, Associated Press, AARP, Bottom Line Financial, National Public Radio (NPR), British Broadcasting Corp (BBC), Inside Edition, Crime Watch, Court TV, CUNA, FDIC, NCUA, CNN, CBS, ABC, NBC Nightly News and many other financial publications regarding current safe deposit issues.

He was also a featured speaker for the American Bankers Association, Independent Community Bankers of America, National Association of Federal Credit Unions and over 100 other financial associations. McGuinn has created numerous training DVDs, policy and procedure manuals and many other unique safe deposit compliance products. His safe deposit resources are now considered the accepted standard for the financial industry.