In the past two days we have received 3 checks where the signature line is not an actual persons signature but a fascimile of the company name. For example, the check was drawn on Pershing and the signature line read "Pershing LLC". We turned away the customer requesting to open a new account thinking this was fraud. However, we have since received 2 more checks signed the same way by other companies, 1 of them Chevron. We accepted the other checks as they were for established customers.
Has anyone experienced this? Is this a new way large companies are signing checks?

A customer's signature is what the customer says is his/her/its signature. If the drawee bank agreed to that form of signature, it may seem strange to a depositary bank, but there's nothing that says it's not legit.

Welcome to BoL Teri.

I would concur with John's post.

Hi John,

Could you site where you found this information? regulation?

It is just contract law. The company says we are going to sign our checks with this facsimile signature. They bank says OK and has them sign a hold harmless agreement saying the bank is not responsible for either checking the facsimile signature on checks or for the misuse of the facsimile signature stamp. Whether that signature bears the name of an individual or the company name itself, I see no difference.