My bank's hold policy is case by case with the option for the exception/extended holds. I understand that REG CC establishes the maximum allowable hold days for specific items and whether it is local/nonlocal.
My concern is this: Certain branches are placing exception holds for different days, but always to the customers benefit. For instance, instead of 7 days (2+5) for an exception/extended hold on a local check, it can be 4, 5, 6. Just dependent on the customer relationship or branch officer.
I believe it is not a REG CC violation, but if the holds are not place according to bank policy I feel it is an issue. We do state, up to x days.
I apologize for the long entry. Any guidance/insight would be appreciated.
Thanks.