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#713705 - 04/09/07 09:08 PM Funds Availability and Substitute Checks
J2C Offline
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Joined: May 2004
Posts: 1,475
Big Brother knows and that's a...
We are in the process of revising our disclosures and making less paper work where it can happen. Is there a problem with including the information aboutu substitute checks in the funds availability disclosure as long as it is clearly outlined?

Any guidance would be appreciated.

My opinion is mine only- not my employer's!

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#713951 - 04/10/07 03:03 PM Re: Funds Availability and Substitute Checks J2C
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,785
Cape Cod
Do you have a separate Funds Availability disclosure for business accounts? If so, you can add the Substitute Check disclosure to your consumer version and leave it off the business disclosure (businesses aren't entitled to the SC disclosure). Otherwise, I see no problem combining the two.

That said, you will still need a separate SC disclosure to give consumer customers who get a SC (other than in a statement) from you.
John S. Burnett
Fighting for Compliance since 1976
Bankers' Threads User #8

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