Some alternatives include:
- Change your availability rules and disclosures for new accounts under Reg. CC
- Train employees to see this pattern and encourage them to verify such checks before accepting them for deposit
- Train employees to see this pattern and refuse to accept these checks for deposit (make them go to collection)
- If not already doing so, verify your new customers using a negative file search like ChexSystems and/or pulling a credit bureau report
Increase your tellers' expertise on holds -- and reduce your fraud losses. Ken Golliher explains how in a live BOL Learning Connect Webinar Wednesday, January 8th -- Holds for Tellers. For just $199, you not only get to have a roomful of employees at one location, you also get the ability to replay the archived program at a later date and time of your choosing, so you can train your employees when it's convenient for you! REGISTER NOW!
First published on BankersOnline.com 1/6/03