I have a note that references a Security Agreement but there is no Security Agreement attached. Instead there is a UCC that is being use as a Security Agreement. Is this okay, or should there also be a Security Agreement that references the UCC?
We submitted a breach of warranty claim regarding a forged endorsement on a check for $169,338.01. We submitted an indemnified copy of the check along with the signed and notarized affidavit of forgery. We are located in New Jersey. How long does the depository bank have to respond? They say that they have 90 days.
Can a bank accept a stop payment from a online banking account without a signature? Will the printed request be sufficient and hold up in court?
Taking a Wealth Mgmt Account as collateral, would you use a Commercial Pledge Agreement and/or a Control Agreement and Acknowledgement of Security Interest as Collateral?
What is the timeframe for returning a check that our customer notifies us is a forgery? What are the regs that pertain to this?
I have two forged endorsement claims from another FI. It is within the time frame of three years, and appears that the checks, payable to a husband, wife, and a contractor, have a forged signature of the contractor. I actually spoke to the victim/contractor, and he states that at no point were any of these funds were due to him. He filed this claim because the IRS says he owes taxes on this money earned for a job, that he never did! I want to deny the claim (over $12,000), since this seems more of a civil situation, but the facts don't lie. The contractor's signature is forged. What do I do?
We had a check which cleared an account here at our bank the 17th of July. The customer contacted us on the 21st and said it was a forgery, so we returned it on the 22nd. The bank that cashed it refused it and sent it back to us on August 3rd. We returned it through help from Fed, with the proper documents on August 4th. Now the bank that cashed it called us and said we need to send them a cashier's check or a letter authorizing them to process the check again. Who is responsible for this check, our bank or the one that cashed it?
We just got a notice from another bank that a $50,000 check deposited by one of our customers is being returned unpaid for insufficient funds. There's just a little over that amount available in our customer's account right now, and we haven't yet received back the actual check. Can we place an exception hold on the account to keep the customer from withdrawing the $50,000? The check was deposited here last Wednesday (one week ago).
A check came across our non-post, and upon review it was revealed that the wife of the account holder had forged his signature and wrote the check to pay a bill. This appears to be a regular occurrence. The wife is not on the checking account. Does this constitute fraud or violate any other rules or regulations?
Is there a certification course available for financial institution security officers?