Most Popular Compliance Content
How can I gain a full picture of customer activity?
03/19/2023
How can I gain a full picture of customer activity?
Reg E is “use dependent”
03/19/2023
I have heard that business accounts do not fall under Reg E. How does this apply to internet banking and what about a business account that is a sole proprietorship?
What is “Abusive,” technically?
03/19/2023
In terms of UDAAP, what makes something “Abusive”?
Using ASMs Alerts for High-Risk Reviews
03/19/2023
Can I solely rely on alerts from my automated surveillance monitoring system to conduct my high-risk reviews?
Check Return Timeline
03/19/2023
I wanted to reach out in regards to time frames that depositing banks have to respond to a check return. As with most other banks, I’m sure, we have seen an increase over the last 2 years of check fraud alternating between both altered checks and endorsement fraud. We typically try and return the item and collect for our customers the lossed funds, but most of the time our returns are denied as they are a late return. The denials that we receive though range from 2 weeks – 3 months so I wanted to reach out to see if there is a time frame that a depositing bank has to deny a returned check so we know on our end as far as giving our customers final credit for the check return?