Audio Conference - Cross-Collateralization and Rights of Offset: Exercising Your Collection Remedies

Hosted by: Compliance Council

Date: Monday, November 6, 2017
Time: 10:00 a.m. - 11:30 a.m. CST

Cross-Collateralization – The Complete Story

We will cover the basics of cross-collateral clauses to include:

  1. document issues;
  2. policy-procedure considerations;
  3. practical application issues [i.e., how to us properly];
  4. pitfalls to keep in mind in order to avoid CFPB/UDAAP and other exposures;
  5. and helpful tips to ensure safe use of this valuable right.

Offsetting Funds / Limitations on Services

We will address the overall topic of Right of Offset and Pledges of Deposits. We will address the full legal and compliance scheme from the common law, Reg Z and certain limitations such as Social Security and VA. We will also address what you can and cannot do; and how you generally CAN if you do all things right. We will also address any implications from CFPB vs. NAVY Federal Credit Union.


Compliance Council Members $25
(includes 2017 Compliance Council membership)


Presenter - Todd Sherpy

Todd SherpyTodd Sherpy is a founding partner in the law firm of Sherpy & Jones, P.A. with offices in South Carolina and Georgia; and is entering his 30th year of practice in the Credit Union compliance arena. The firm is dedicated to serving all legal needs of Credit Unions; and provides day-to-day compliance, compliance auditing, training and consulting services to Credit Unions throughout the United States. Todd has championed the concept of ERM for many years; and has worked with many Credit Unions from the development to the ultimate tweaking of their implementation of formal ERM programs.

Todd dedicates a large portion of his time to teaching Credit Unions, having made presentations in 46 States and has been a participating as an instructor through many CUNA, League and Credit Union Trade and Vendor programs. Todd has also authored numerous CUNA and other publications ranging from compliance resources to volunteer training programs. Todd also serves on the Credit Union Sub-committee of the American Bar Association.

Todd is married to the Executive Officer at a Large Georgia Credit Union and has two daughters, Caroline and Catherine -- having lost Catherine after a two year battle with cancer in 2013. He adores both his daughters; and now dedicates all funds from speaking & education to the fight against cancer and will accept no compensation personally. If ever Todd can help your Credit Union in regards to any Staff, Board or other training he will work with you in order to raise cancer awareness and donations to fight back against the disease that took from him what he holds as most precious.

For questions about this audio conference or the council program, please contact Cristina Martinez at or 800-442-5762 ext. 6403.