Check 21 and the 'Final Rule'
Question: We ordered the Check 21 Video and it was actually delivered before the final rule came out. Is there any change we need to know about?
Answer: When I wrote the Check 21 video, we meant it for the front line and consumer education. For that reason, we didn't get into pricing, or liability, or the specific handling of expedited returns. What we wanted to do was take the mystery out of Check 21 so that all who viewed the video would understand the changes, the need, the principle and the processes it entails. In the package with each video are pages with additional information to be distributed during training, and we anticipated that there might be some changes there, in which case we would have followed up with corrected pages. But we lucked out. There were no changes necessary.
Note: That doesn't discount the huge sigh of relief in my office when the final rule came out and we learned that all of our video is correct! It was a calculated risk - but this time it worked!
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 6, 10/10
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