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#2184236 - 07/05/18 10:01 PM Reg CC hold-date range
Bec Offline
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Bec
Joined: Jul 2010
Posts: 1,115
The Great White North
We have an instance of multiple days of mobile deposited checks into an account. We have reason to believe that these checks are not good. Can we use one hold from with the date range, or should we do a hold form for each day?
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#2184246 - 07/06/18 08:34 AM Re: Reg CC hold-date range Bec
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Mobile deposits are not subject to Reg CC unless you have made them so. If you have, then your notice has to comply with:

(i) The notice shall include the following information--

(A) A number or code, which need not exceed four digits, that identifies the customer’s account.

(B) The date of the deposit;

(C) The amount of the deposit that is being delayed;

(D) The reason the exception was invoked; and

(E) The time period within which the funds will be available for withdrawal.
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#2184271 - 07/06/18 01:03 PM Re: Reg CC hold-date range Bec
Bec Offline
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Thank you for the information!
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#2184582 - 07/09/18 07:03 PM Re: Reg CC hold-date range Bec
Bec Offline
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Quick follow up, Reg CC doesn't cover mobile deposits even with the new rule changes? I wasn't thinking about it at the time, but doesn't Reg CC now cover image of original checks?
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#2184586 - 07/09/18 07:13 PM Re: Reg CC hold-date range Bec
BrianC Online
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BrianC
Joined: Nov 2004
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Illinois
No changes to Subpart B regarding availability of checks.

These changes are to the Subparts regarding check collection and warranty claims.

Or as I said in a conference while wearing a brown cloak and waiving my hand at the audience..."These aren't the Reg CC changes you're looking for...."
Last edited by BrianC; 07/09/18 09:12 PM. Reason: Spelling
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#2184588 - 07/09/18 07:17 PM Re: Reg CC hold-date range Bec
Bec Offline
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LOL, too funny. I love that line. Thanks for your speedy answer.
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#2184623 - 07/09/18 08:13 PM Re: Reg CC hold-date range Bec
P*Q Offline

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Brian, that just made me laugh out loud!

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