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#236215 - 08/24/04 07:47 PM dispute a late return
Anonymous
Unregistered

How long does a bank have to dispute a late return? I received a letter today that they are disputing a late return from 10/31/03. I could not find the rule right away but I thought they had 48 hours to protest a late return. is this correct or incorrect? and where is the ruling? This is on a paper check and not an ACH item.

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#236216 - 08/24/04 10:25 PM Re: dispute a late return
Paragon Offline
Diamond Poster
Paragon
Joined: Dec 2003
Posts: 2,164
It's my understanding that a bank that receives a late return has two months to dispute it through the FRB, Check Adjustments. I doubt that the 'letter' noted is from the FRB, it's probably from another financial institution that is engaged in wishful thinking.

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#236217 - 08/25/04 02:52 PM Re: dispute a late return
Mike Baker Offline
100 Club
Mike Baker
Joined: Dec 2002
Posts: 192
Tennessee
If I am understanding the situation correctly, then I think that Ken/Pegasus has addressed this matter in another thread, entitled "late return claim." Please look at Ken's response in that thread.
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