Skip to content

Time Limit to Credit Unauthorized Drafts

Answered by: 

Our customer has an account at another bank that was charged with unauthorized paper drafts. The customer reported the entries to the bank in a timely manner. The bank states they will credit the account once a police report has been provided (which is pending). Is there a time limit in which the bank must provide provisional credit (similar to the one required by Reg E for electronic items)? I find no reference to a time frame in the UCC or any other resource.

Sometimes the reason you can't find something is because it isn't there. There is no time limit for completion of the adjustment, as far as I know.

First published on 6/20/05

First published on 06/20/2005

Filed under: 
Filed under operations as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics