A case-by-case hold was place on a non-local $2,455.00 check deposited on 6/1/09. On 6/5/09 the branch learned confidential information that revealed reasonable cause to doubt collectability. The branch created a new hold form for an exception hold on a non-local check and extended the hold until 6/22/09.
First of all, can the branch extend a hold - they did send a new hold notice form to the customer on 6/5/09.
Secondly, if this is permissible, shouldn't the expiration date have been 6/16/09 - 11 days from the date of deposit - and not 6/22/09 - 11 days from the date they changed the type of hold.
Lela Purvis, CRCM/CCBCO/CBAP