05/21/2007
Our bank recently converted to item-capture imaging. Instead of sending the original copy of a check back with the statement, we have included an image of that check (five to a page). We first told our customers that this image of the check was a legal copy of the check and it contained both front and back images. Now, we have chosen to only image the front of the check to save paper. Is the image of only the front of a check still a legal copy of the check? Should we include the front and back image of a check?
05/07/2007
How long do we need to retain applications for online banking access? We currently scan the applications into our report and imaging software. Is there is a need to hold onto the original applications?
02/12/2007
I am the Electronic Banking Specialist for [Bank Name Withheld]. We are having a debate among ourselves and our Legal Department regarding whether or not check imaging is covered by Reg E. One opinion has to do with whether the check image is truncated or not; another has to do with the intent for imaging, whether as a tool for the merchant to recover funds on a returned item, or as a bank tool to pacify clients who want their checks back. I would appreciate any input that you might offer as you have a more industry-wide view available, as well as experience in compliance and Reg E issues.
11/01/2005
A technology company in New Jersey recently announced release of a biometric tool that uses iris recognition - but allows the recognition to occur as people are walking through a portal.
07/04/2005
Some consumers believe that the images of checks are not as good as the checks themselves. What are the rules on this for proof of payment or prosecution of forgery?
07/01/2005
01/01/2005
Fiserv, Inc. is offering a seal for substitute checks that survives the imaging process and can be read later to authenticate those substitutes and to expedite Check 21 research.
10/25/2004
With Check 21 signed into law, is it now futile for a merchant to require a signature on the back of a customer's check accepted at the point of sale (for bounce/collections purposes if their check bounces)? What effect does this have on Reg E?
10/25/2004
What are some of the ways that the imaging technologies that are developing as a result of the Check 21 law will help us provide better customer service?
02/14/2004