07/01/2002
It is our bank policy that corporations can not transfer funds from account to account. The corporation would have to write a check from one account and deposit that into the other account. Is this also a federal regulation and/or something covered by the Uniform Commercial Code?
05/06/2002
Is a customer responsible for checks that a joint owner writes after the account was closed?
04/01/2002
Is there a compliance issue with giving cash back on a deposit to someone other than a signer on the deposit account?
04/01/2002
If you do a stop payment, do you need a signed authorization and if so, where is this regulation/statute?
04/01/2002
I was told that when we have accounts with 2 signatures required, it is NOT up to us (the Bank) to police them and make sure both signatures are on the items. I was told it is up to our customer to police/enforce the 2 signatures required. Is this a federal regulation or am I wrong? If it is a federal regulation, where is it in "ABC Soup" and what year was the requirement established?
04/01/2002
We are about to mail our annual privacy notices and would like to send a one page letter along with the notice. The purpose of the letter would be a "thank you for doing business with us" and a basic generic marketing message. Is it permissible to include such a piece with the Privacy Notice?
02/11/2002
Is there a limit on the time that we can go back on an encoding bank for errors on encoding? Our customer has brought the items to us which total about $500 and we would like to push this loss onto the encoding bank under UCC 4209, but we can't find where the UCC limits the time period in which this warranty is valid.
02/04/2002
When a counterfeit check is not returned to the depositing bank within the required 24 hour period, who is liable for the loss, the drawee bank or their customer assuming the customer exercised ordinary care and notified the bank upon discovery during a timely bank reconciliation? There appears to be some evidence that the drawee bank can pass the risk of loss on all counterfeit checks to their customers through their deposit account agreement. However, this would appear to circumvent the banks responsibility to only charge a customer's account if an item is properly payable and signed by an authorized individual. Otherwise why even have a signature card?
12/03/2001
Does the bank have to record the release of a UCC, or is it sufficient to sign the release and give it to the customer and let them deal with it?
11/05/2001
In an answer by Ken Golliher to a question regarding counterfeit check reimbursement, he says that "Refer to Maker" cannot be used as a return reason. Did "Refer to Maker" go out the window with Reg. CC? Is there any time when it is appropriate to return an item unpaid for reason of "Refer to Maker"?