Skip to content
 

Latest Compliance - Endorsement Topics

OCC Reg on Depositing Signed Over Check

03/23/2015

Under the OCC's regulations can you deposit a check into the customer's account if the check is written to a different person and he or she has signed it over to the person that has the account?

Time Limit for Returning Forged Checks

05/06/2013

My customer mailed a check to their employee. The employee had moved and someone else cashed the check. My customer gave their employee the money for the stolen check. My customer wants the bank to credit his account and return the check because of the forged endorsement on the back of the check. This took place over 4 weeks ago. It is my understanding the check can be returned up to 36 months later when dealing with forged endorsements of the payee. Is this correct?

Depositary Bank Disputed Forgery as Late Return

01/28/2013

Our customer wrote two checks to the same payee, one was dated 2/10/12 the second was dated 4/10/12. Towards the end of July, the payee notified our customer that he did not receive the checks. He signed an Affidavit of Forged Endorsement and we returned the check as fraudulent along with the affidavit. The depositing back disputed the item as a late return. Is there anything we can do now? Can we possibly claim breach of warranty?

Forged Endorsement Claim w/o Benefit to Spouse

12/03/2012

We have been presented with a request to return funds for a forged endorsement on a check deposited here. The check in question is made payable to "wife," has a signature (which she claims is forged and that she did not receive any benefit from the check), then "husband" also endorsed and deposited a portion into their joint checking. He took cash for the rest. He has since closed the account. Would we be able to deny this claim since she did receive benefit from the check with the deposit to their joint checking? Or would we still have the liability since she claims it is not her signature?

Checks payable to bank for cash

08/06/2012

Are we liable if we cash a check from a customer made payable to our institution and it is returned for some reason? Do checks to be cashed need to be payable to cash or in the customers name?

Depositing Jointly Payable Check-Payee Signature?

03/05/2012

In the case of a jointly payable check being deposited to an account in the name of one of the payees, is the other payee required by law to sign or endorse for the Bank to accept the check?

Depositing Jointly Payable Check-Payee Signature?

03/05/2012

In the case of a jointly payable check being deposited to an account in the name of one of the payees, is the other payee required by law to sign or endorse for the Bank to accept the check?

Pages

Premium Content View All

Identifying Tax Refund Fraud

Staff on the front line and in the back room have received plenty of training on BSA compliance.

Regulation CC: Going Electronic

After merging check processing centers to a single location, the Federal Reserve has set about revising Regulation CC and the two primary mandates of the Expedited Funds Availability Act: speed the

Pages

Most Popular Compliance Content

Handling Reg E claims on older transactions.

06/23/2019

If an EFT claim is made long after the statement is sent showing the transaction, the rules of investigation don't apply. So why do we investigate any of these claims?

Open DBA Under LLC- Certificate of Assumed Name

06/23/2019

We have a LLC wanting to open a DBA under the LLC. The TIN number and the Article of Organization only has the LLC's name. 1. Does the LLC need to get an Certificate of Assumed Name filed with the Secretary of State? 2. Will they have to file the DBA at the county also? (We know at this time the DBA is filed under someone else's name at the county currently.)

Opening Online Acct. & Funding w/ACH Debits

06/16/2019

Our digital channel team would greatly appreciate your comments and confirmation of our understanding in order to comply with online account opening and funding for new clients with ACH Debits and the ability to hold funds. The questions below relate to an online account opening process for new clients. After completing the online application, approved clients have the option to fund their new account with funds from an external source – an account they hold at another bank - via an ACH Debit and we are the ODFI. 1. Can we place a hold on the initial funds received as an ACH Debit? Our understanding is “yes” because: · an ACH debit does not fall under the definition of an electronic payment under Reg. CC (II.Section229.2 Definitions (p)) Electronic Payment, which imposes no availability requirement, and we are free to hold the funds for a period that we determine. Restricting access to those funds would be reasonable to allow for the debit entry to reach the RDFI and be returned to our bank, the ODFI, if there is a problem. · We are not receiving an ACH credit as we are the ODFI of the ACH debit, and NACHA has no say in when we credit the new account, so there would be no violation of NACHA rules.</ul> 2. Would we be required to provide a hold notice to our online account applicant of the delay in availability or a notice at the time the external funding option is selected that the funds may not be credited to the account for “2-3 days”, or available for “2-3 days” suffice? Our understanding is: · a notice that indicates funds may not be available for x days at the time the customer selects the external funding option and submits their authorization should suffice as it becomes part of our agreement when the customer selects that funding option. · Reg. CC does not impose an availability requirement for ACH Debit transactions, so no Reg. CC hold notice is required. 3. Would our Reg. CC Policy – Funds Availability Notice, need to be updated to refer to availability from ACH Debit transactions? · Model language is silent in this regard, any recommendations or suggestions are welcome.

Pages

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics

Compliance Topics