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Check 21 Procedures and Diagrams

Check 21 brings with it a host of new compliance responsibilities relating to expedited recredit claims by consumer deposit account customers.Three tools contributed by MackensieS help you keep it all straight.The first tool is a diagram that indicates the steps that should be taken if a customer files a claim and the bank determines within 10 business days that the claim is valid.The second tool is a diagram that covers various expedited recredit claim scenarious, including instances where the bank determines the customer's claim is invalid.The third tool is a manual of internal procedures for Check 21.The manual wascreated by sitting down with the regulation and preparing step by stepprocedures for those directly involved in the Customer recreditingprovisions of the regulation.

First published on 01/01/2001

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