12/31/2023
Where in the regulations does it spell out the time limits and liabilities for banks regarding counterfeit checks, altered checks, forged endorsements, etc?
12/31/2023
What is the time frame to return a check which was forged or fraudulently altered, i.e. stolen and washed?
06/25/2023
Is a bank obliged to reimburse a consumer client for a fraudulent check paid out of their checking account? (We are in New Jersey.). Also, the client reported the fraudulent checks 10 months after statement cut which is deemed late according to our account agreement.
I have not been able to locate a rule/code or law that makes us liable to a consumer for this.
06/25/2023
We currently have an individual stating that a forgery has been committed on a DBA account that was owned by his mother. The account had an authorized signer, who was added by the account owner. The account owner passed away in November 2022 and it is the Personal Representative stating that forgeries were completed by the authorized signer's wife.
I have been investigating the statements and now the Personal Representative has filed a complaint with our regulator saying we are not responding to his claim. That is incorrect. We have reached out to the bank's legal counsel on the claim, but I'm looking for advice on handling the complaint with the regulator? The forgery claim investigation is ongoing.
09/12/2021
A corporate customer's account was recently compromised. Information from an authentic check was used to create fictitious checks. Numerous $100 checks were negotiated. The fake checks don't include a payee name. In addition, the checks don't have any type of endorsement. If we consider these checks bearer instruments, and no endorsement is required by UCC, do we have any recourse with the institution who processed the (fictitious) checks, or is the loss on our side since the customer failed to identify the fake checks in time for a timely return?
08/08/2021
I was asked today, on our bank's affidavit of fraud and forgery form for checks that have been cashed fraudulently, why we require it to be notarized. Is this required? The people who created the form and implemented it are no longer here. We are trying to figure out if a customer has check fraud, on our form that customers sign, does the bank have to have a section so it is notarized?
10/06/2019
We returned three checks that were written on 8/22 and 8/23 as forgeries. Today, I received a claim of late return. I thought we had 60 days to
return these; can you please clarify the parameters for this?
07/07/2019
We have a business customer that mailed a check to a business for payment, and that payee is claiming they never got the payment. We can see the check cleared our customer's account in February 2018. We feel it could have been intercepted by a third party and negotiated. The BOFD did confirm that the check was negotiated at their institution, but obviously can not confirm who the third party is, or if it is in fact a third party. Do we have any recourse on this? We were thinking a warranty claim but do not have much experience with this or where to find those forms.
12/02/2018
Is the bank liable for cashing an on-us check that was forged by the daughter of our customer? There was no stop-payment placed on the check.
01/28/2013
Our customer wrote two checks to the same payee, one was dated 2/10/12 the second was dated 4/10/12. Towards the end of July, the payee notified our customer that he did not receive the checks. He signed an Affidavit of Forged Endorsement and we returned the check as fraudulent along with the affidavit. The depositing back disputed the item as a late return. Is there anything we can do now? Can we possibly claim breach of warranty?