Latest Compliance - Check Presentment Topics

UCC Check Presentment-Written/Numeric Amounts

08/11/2019

If we have a check presented for payment and the written/numeric amounts on the check differ, are we allowed to write what we took it for above the numeric amount? At a previous institution that I worked for, we wrote it in red ink, so the proof person would know instantly what we read it as.

Dated/Outstanding Expense Check Under $50

08/04/2019

What can we do about a dated and outstanding expense check which is less than $50.00? We cannot locate the payee (an individual).

Warranty Claim Forms for Business Check

07/07/2019

We have a business customer that mailed a check to a business for payment, and that payee is claiming they never got the payment. We can see the check cleared our customer's account in February 2018. We feel it could have been intercepted by a third party and negotiated. The BOFD did confirm that the check was negotiated at their institution, but obviously can not confirm who the third party is, or if it is in fact a third party. Do we have any recourse on this? We were thinking a warranty claim but do not have much experience with this or where to find those forms.

ID for Cashing Checks & Making Deposits

06/09/2019

What is the proper identification for cashing checks or making deposits?

NSF Check for Collection-10 Day Rule

06/02/2019

We received a letter from another bank with a check for collection. It was returned to them as NSF and they would like us to collect on it. We are wondering if it is 10 business or calendar days that we as the bank needs to look?

Policy on Customers Taking Pics of Records

05/19/2019

Does anyone have any suggestions for putting together a policy on how to handle customers using cell phones to take photos or record interactions within a branch?

Owner of Sole Prop Business Account-Cashing Checks

05/05/2019

Should the owner of a sole proprietor business account cash checks made payable to him personally using the business account?

Deposit Checks Payable to Deceased in IOLTA?

02/17/2019

Can an attorney who is appointed personal rep of a deceased individual, deposit checks payable to the deceased (not the estate) into their IOLTA account?

Reg CC Multiple Low Risk Items-$5,000 Rule

12/16/2018

Per Reg CC, when multiple low-risk items are deposited within the same deposit, would the first $5,000 rule apply to each low-risk item, or would just the first $5,000 of the total deposit need to be made available?

Check to Individual: Accept for Loan Payment?

12/09/2018

Can a check that is payable to an individual be accepted for a loan payment?