Most Popular Compliance Content
So are we responsible ?
02/06/2022
We sent a check out in our cash letter, and the check number was encoded wrong. That is it, nothing else. When the makers bank received the check, they paid it. Then days later they realized that check had a stop on it. The stop was on ck# 1855. We sent the check to that bank with no check number at all. Our machines did not pick it up. They are wanting us to pay them back for the check because we sent it out without the check number, however they missed the stop too. The check suspected and they failed to notice the check number was not correct and it had a stop on it.
So are we responsible ?
02/06/2022
We sent a check out in our cash letter, and the check number was encoded wrong. That is it, nothing else. When the makers bank received the check, they paid it. Then days later they realized that check had a stop on it. The stop was on ck# 1855. We sent the check to that bank with no check number at all. Our machines did not pick it up. They are wanting us to pay them back for the check because we sent it out without the check number, however they missed the stop too. The check suspected and they failed to notice the check number was not correct and it had a stop on it.
"Midnight Deadline" Cite
01/30/2022
Under what legal authority could we as the depository bank seek to recover a check timely returned by the "midnight deadline" when multiple prior checks were not timely returned by the "midnight deadline"?
How should the signature card look for a DBA with a POD?
01/30/2022
Minnie Mouse DBA Minnie's Dresses, POD Mickey Mouse, or Minnie Mouse POD Mickey Mouse, DBA Minnie's Dresses, or something else?
New Account Onboarding Exceptions
01/23/2022
What is new account exception management?