Most Popular Compliance Content
Lottery Exceptions
06/16/2024
Now that banks can participate in lotteries, can we facilitate raffles unrelated to the bank for local service groups, posting lobby posters or selling tickets for or be a sponsor, etc.?
Reporting winners to the IRS
06/09/2024
We ran a contest and no prize was over $300. We didn’t need to collect non-public private information from the winners since the prizes were small, did we?
A bake sale by any other name
06/02/2024
Every year we hold a bake sale to raise funds for Breast Cancer Awareness/Local Hospital Foundation. Is this acceptable?
Need training materials on Regulation GG
05/26/2024
I am looking for ideas for training materials on Regulation GG. Also, does Regulation GG only apply to a commercial business that may be using their account as access for internet gambling?
Was this check altered or forged, and why does it
05/19/2024
Our customer issued a check to an insurance company. The item was altered (washed), made payable to a new payee, and deposited into that payee's account. We were outside of the 30 day return window and went bank to bank to recover the funds. We are being told that our claim is being denied due to the following: "The check contains a forged maker signature. This is not an altered item and there is no breach under UCC § 4-208. Our review of other items involving this drawer demonstrates that this check was not signed by an authorized signer of the drawer. As a result, we decline to pay the claim." How would they as the depositary bank be in any position to tell us that our customers signature is forged? It was not forged. The payee line was altered. What are our rights to refute their denial so that we can reclaim the money?