|
|
|
 |
VA Reclamation - Obtaining Funds Paid to Survivor
by John Burnett, BOL Guru
Guru Bio
Question: The Treasury Department VA Administration has debited our account for a reclamation of a VA direct deposit. A branch allowed a survivor to withdraw the funds prior to us receiving the reclamation notice. Do we have any recourse to obtain the funds paid to the survivor?
Answer: There are specific steps to follow to minimize your exposure in a Treasury direct deposit reclamation. Take a look at Part 2 of the Reclamations chapter of the Treasury's Green Book. It's critical that a depository institution respond timely when it receives a Notice of Reclamation in order to minimize its exposure.
First published on BankersOnline.com 4/28/08
Privacy Policy Disclaimer Recommend This Site ! Contact Us
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
|
|
|
|
Print Friendly!
Email This Article!
Discuss NOW!