Vendor Guru Q&A - Compliance

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Latest Compliance - Endorsement Topics

Endorsing Check Over to Business w/Same Signers

01/24/2016

Can a business endorse a check over to another business with the same signers? Ex. Carefree Sprinkler signs checks over to Carefree Lawn.

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?

Time to Return Check for Improper Endorsement

05/07/2012

How long does a bank have to return a check for improper endorsement?

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?

Deposit Business Check into Personal Account Rule

01/02/2012

Why can you not deposit a Business check into a personal account?

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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

Protected Funds Apply to Child Support Levies?

04/14/2019

I recently did an e-train webinar, regarding California Levies/Subpoenas as my credit union is located in California and Oregon. In this e-training the instructor told us that protected funds do not apply to child support levies. I have been to many seminars regarding levies and subpoenas and I have never been told this. I was taught of course that IRS levies do not apply to protected funds, but never child support. Does this rule only apply to California or to all states?

Reg E Unauthorized Transaction w/PIN Issue

04/14/2019

REG E, if a consumer has given his or her PIN to a friend, the friend later steals the card [and uses it without authority], are we required to give them their money back under Reg E?

Family Trust-Individuals Use Separate SSANs?

04/14/2019

John and Cindy both have individual accounts and just created a family trust which has no tax number. Can they use their separate SSANs for the account without adding the other person as joint owner?

Violation if Make ATM Unavailable for Week?

04/14/2019

If we deactivate the card reader access to ATM area and make ATM unavailable for about a week, will it cause any violation on to regulation? Our bank’s ATM is inside a building. Anyone who wants to access the ATM machine needs to get in the first door with access via a card. There is another door before you get to the bank’s lobby. There is a small area between the first door and second door. Recently we found a homeless person who gets in that area around midnight and sleeps there. Even worse thing is he urinates during the night and leaves unpleasant smell before leaving early in the morning. We are hoping the person will find a new place to stay if we temporarily shut it down.

State Requirements: Lender-Placed Insurance

04/07/2019

I'm looking for a resource that can provide the state-specific requirements for lender-placed insurance notifications - this would be above/beyond the CFPB model forms.

Latest Compliance - Endorsement Topics

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