Most Popular Operations Content
Sole Proprietors or Sole Traders?
05/19/2019
Does a foreign business have the same tax structures as the US?
Reg E Dispute Resolution Letter
05/19/2019
Does Regulation E require you to send dispute resolution letter with all information regarding the transaction, or can we send a generic letter? "Your claim is denied ,"or "your dispute is valid" with no information regarding the date and amount of the transaction? I was always under the impression you had to provide that information in a closure letter.
ACH Return Transaction Using Code R23
05/19/2019
For an ACH transaction we (RDFI) have received, we believe a third party made the payment to an account and we (as RDFI) would like to return it. May we return it using the return code R23? R23 description sounds as if the recipient account holder should return the transaction.
Can a Corporation Sweep from a Personal Account?
05/19/2019
Can a corporation sweep from a personal account? We say no but are checking what you think?
Reg CC Notice of Nonpayment-Liability Calculation
05/19/2019
I'm hoping you can confirm my understanding that a paying institution is liable under Reg CC 229.38(a) for failing provide notice of nonpayment for a check in the amount of $5,000 or more under 229.13(c)? The measure of damages under 229.38 is the loss incurred up to the amount of the check, less the amount of the loss that would have been incurred had the paying institution exercised ordinary care. Can you provide an example of a liability calculation in which the paying institution's notice of nonpayment is late? How does the bank of first deposit pursue a claim against the paying institution for failing to provide proper notice by the deadline? I assume this would be on a "without entry" basis by sending a demand letter to the paying institution.
