Under the Consumer Financial Protection Bureau, I noticed that it stated something in it that no flags were to be used in advertisements. Our logo is an American flag.
A customer purchased a cashier's check made payable to a company that was recently shut down by the SEC. The check has not been cashed at this time. Can the bank use UCC 3-312 and have the customer sign an affidavit that the item is not enforceable to be paid and would this hold up in court?
Is there a law (state or Federal) that restricts banks on how they are able to transact jointly payable Tax refund checks? State or Federal? A law that states the check has to be deposited to a jointly held account (matching the way the check is payable) if the second party is not present with ID? Does the check have to be endorsed in front of the teller to cash it? Otherwise, must be deposited and then withdrawn? Do both persons have to be present to receive cash back without depositing the item? If the check is properly endorsed, and both customers bank at the institution where the check is being presented,can one person transact the check?
I have recently had a customer file a dispute claiming that there was an ATM charge (PIN based) that he did not authorize. Is there a specific time frame that this customer has to notify us by in order for him not to be liable for this transaction?
Are we required to identify the individual cashing an on-us check from one of our business customers? Even if the business customer calls and says the person is coming in to cash a specific check or we call to verify the check is valid?
A customer submits an unauthorized transfer claim under Regulation E, but the financial institution requests additional information to proceed. The customer fails to provide the additional information within the 10 business days. Is the financial institution obligated to provide provisional credit?
Who assumes the loss for paper checks created by a vendor who claims to have the customer's verbal authorization to debit his account, and the customer claims he did not authorize the transaction?
We have a customer that has Letters Testamentary naming him Executor of his father's estate. We have a check payable to the Estate and the customer refuses to open an estate account. Can he endorse the back of the check as the executor and deposit to a personal account?
If we cashed a check for a customer and the check is returned to us and they have no funds at the time, can we place a hold on the account until such time as a deposit is made. I don't believe Regulation CC applies because the check was not deposited and I thought if we offset it was a one-time charge.
We recently received multiple Breach of Warranty claims for counterfeit items. We are the depositary bank. The claim is being submitted to us under "Clearing House Rule 9." Does our institution need to be a member of a National Clearing House Association or does only the paying bank need to be a member in order for Rule 9 to apply or would we abide by UCC code?