For Large Dollar Notifications - when our staff calls the bank of first deposit to notify them of the return, they have had some banks refuse to take the information from them. What is the solution? Does the staff keep trying until they find someone in the depositing bank who will take it? (I'm new to this bank, my previous bank always used Fedline, I didn't even realize some banks still just called).

I would not be making calls. What documentation do you have in case of a large loss and the bank of first deposit says they never received the notification?

Agree - but sometimes turning a big ship around takes a long time and creates a lot of waves. Thanks for your advice.

We are a bank whose cashier's checks are being counterfeited by (insert vulgar adjective here) crooks. We are doing our best to abide by Regulation CC and provide proper Large Item Return Notification to our fellow banks by placing a call. I have ran into the same issue as CJT did and I'm getting the cold shoulder from banks who don't seem to really care that I am returning to their customer for the reason of COUNTERFEIT.

Seriously, are other banks really NOT placing the phone calls to notify of the Large Return Items? And WHY and WHEN was this decision made?

Any comments would be appreciated.

We have experienced a LOT of banks not placing phone calls OR making notification (the returned check gets here w/i 2 days from presentment, so they just use the returned check as notice) I know the regulation states you have 2 days to provide notice, but still, I miss the days when banks provided it right away. A customer can do a lot of things with their account in 2 days...

When we return a check, we use Fedline AND place a phone call, just for courtesy purposes.

MNBanker, your are my kind of banker, my sentiments exactly! Anyone else?

Yes Yes Yes. "Can't we all just get along?"
Sure we are competitors but its nice to also look out for each other. Remember The Golden Rule!

Do unto your neighbor before he does unto you?

Nice to know all of us are in the same boat but still - cause for concern we are attempting to call on returned items, but no one wants to take the call. I told staff to document who they contacted, and the date.

I'm guessing they don't have anyone trained to (1) route the call to the right department or (2) don't know they have a regulatory responsibility to accept the call and the information.

I agree that you need to document who and when.

We are a small bank, and we do make phone calls; we have also received faxes from some institutions as their notification.

What CFR references large dollar notifications. I am in the middle of a Reg CC review, and I am unable to find this. Is a requirement to notify the bank of a large return or just courtesy?

229.33 - it is a requirement to notify the bank by the second business day after presentment; however there are several ways this can be accomplished. The citation indicates the timing and notification requirements.

THANK YOU SSSSOOOO MMUch!!!!!

Here is a great link to a Ken Golliher BOL Guru on this. Maybe it will help you PUREX:

http://www.bankersonline.com/compliance/guru2005/gurus_cmp120505d.html

Thanks for all of the help!!!