04/21/2019
Can a hold be placed on a savings account due to the customers excessive overdrafts on their checking account? Would this be a Reg CC violation?
04/07/2019
Has the minimum for a large dollar return notice been raised from $2,500 to $5,000?
12/16/2018
Per Reg CC, when multiple low-risk items are deposited within the same deposit, would the first $5,000 rule apply to each low-risk item, or would just the first $5,000 of the total deposit need to be made available?
11/11/2018
When two cashier's checks are deposited together and held as a Large Deposit, should $5,000 of the total be made available immediately or is $5,000 from each check ($10,000 of the total deposit) made available immediately?
07/15/2018
My question has to do with scams involving fraudulent checks and how we should handle the check when a customer presents it for payment. Specifically, we had a customer bring in a check for $2,900 that just didn't feel right for the type of business the customer normally conducts. The teller inquired about the check. The customer explained that he had enrolled online as a secret shopper. He was to keep $300 for himself and spend the other $2,600 buying specific merchandise to send back to the company that sent him the check. The teller called the bank on which the check was drawn and was told that it was fraudulent. We have had a law enforcement official tell us that we need to deposit the check anyway, put a hold on the account so that the funds are secured, and wait for the check to be returned so that we have a paper trail and proof that the check is fraudulent. In addition,
once we have proof that the check is fraudulent, we should give the returned check back to the customer so that they can file a complaint with law enforcement. Is this the proper way to handle the check?
06/24/2018
I need an updated answer for 2016! Please re-enforce that "unable to verify funds" is not a valid Reg. CC reason to place a hold on funds.
05/13/2018
With the new Reg CC rules effective July 2018, how will a user be able to differentiate between an electronically created item (ECI) and a remotely created check (RCC)? Will there be an indicator on the file that identifies these items?
08/20/2017
Is a funds availability date required when using the Reg CC hold notice for large dollar charge-backs? The regulation requires you to state on the notice when the funds will be available, however, when you know the
item will be charged back then are you not incorrectly informing the
customer?
05/28/2017
Is there any where in Reg CC that states the bank can hold a check for the entire amount for a New Account?
05/07/2017
We have a check that we believe is fraud. We put a 7 day hold on the check and it is now the 7th day. We verified the check is fraudulent but has cleared the account. The issuing bank has not yet responded to us about this as they don't seem to worried about it. Is there a way to extend the hold?