9 Class Hours

Instructor: Rich Daingerfield

This course will examine and explain major elements of the legal environment in which banks operate. Emphasis will be placed on a bank’s rights and responsibilities in various situations. Topics will include an overview of our legal system, the Uniform Commercial Code, legal entities, agency, contracts, secured transactions, payment systems, bankruptcy and lender liability.

Students will:

  • Acquire a clear, common sense understanding of the legal environment in which banks operate.
  • Learn many of the bright-line rules determining the rights of banks and their customers with regard to various products (particularly deposit accounts, payment services and lending).
  • Learn how to confirm who is authorized to bind bank customers that are intangible legal entitles, such as corporations, limited liability companies and trusts.
  • Pick up many practical tips about what to do in situations that frequently arise, e.g. customer complains that an outbound wire transfer request was fraudulent and not properly authorized.
  • Learn just enough about bankruptcy law to understand how a bank can assess its rights and responsibilities when a borrower declares bankruptcy.


Annual School Session

First Year Core Course

Competency: Innovation & Engagement