Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#569204 - 06/19/06 12:53 PM Order of paying checks
notuntermywatch Offline
Gold Star
Joined: Jun 2006
Posts: 392
MN
Is anyone aware of a requirement where we must disclose which order we pay our checks (small items before large items).

I know that we can do it however we want, but is there a disclosure requirement to tell our customers how we do it?

Thanks!

Return to Top
Operations Compliance
#569205 - 06/19/06 01:08 PM Re: Order of paying checks
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
There is no federal requirement. Other posters have noted that there are requirements in some states. In addition, OTS supervised institutions are encouraged to pay greater attention to the order of payment in connection with ODP programs. I suggest you re-post your question in your state's forum and, if you are OTS supervised, indicate it in your post.
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

Return to Top
#569206 - 06/19/06 01:42 PM Re: Order of paying checks
notuntermywatch Offline
Gold Star
Joined: Jun 2006
Posts: 392
MN
Thanks!

Return to Top

Moderator:  Andy_Z, John Burnett