Reg E on Official Checks

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Question:

If a customer did not receive their check in a timely manner in the mail after cashing in a Certificate of Deposit, can they file a Reg. E claim? The account was originally opened online.

Answer:

Essentially you have an official check lost in the mail. You'll have to give it time to be officially missing, and then have a declaration of loss statement completed followed by an indemnity bond in case it is presented later, but this part of the transaction was paper, so Reg E will not apply. It doesn't matter that the CD was opened electronically.