As mobile deposits and remote deposit capture become more pervasive, it is increasingly common that a paper check that should have been truncated or destroyed makes its way into the clearing system. Regulation CC is being revised to establish a rule set where a bank that presented an item electronically agrees to indemnify the bank that later accepted the paper check for deposit.
However, the time frame in which the paying bank discovers the duplicate payment is critical. If it's before the midnight deadline, the item can be returned without a conversation as a "duplicate presentment." If it's after the midnight deadline then the paying bank will need to either 1) go through an adjustment process based on its specific clearing arrangements or 2) go bank to bank with the bank that presented the item electronically.
The 1) work load and 2) likelihood of loss increase exponentially if the paying bank does not return the item by the midnight deadline. The ability to detect the duplicate ASAP is an important feature.,,
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.