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Check Fraud Prevention Advice from ABA's Check Fraud Task Force

10/01/1994

by Charles J. Bock, Jr., CFE and Bruce P. Brett

Statistics, Facts & Such

11/01/1993

Americans spend about $120 billion each year on expanding, renovating and/or repairing their homes. In another seven years this expenditure is expected to reach over $200 billion annually.

Can It Be Programmed To Bring Coffee?

08/01/1993

Welcome to the future! Security Technology News reported in their July 27, 1993 issue that robots are very much "on duty" in today's world.

Statistics, Facts & Such

07/01/1993

Benjamin Franklin, when creating bank notes for the state of Pennsylvania, deliberately misspelled "Pensylvania" to deter counterfeiting. It didn't work.

ATMs & Insurance

03/01/1992

One of the big news items earlier this year was the refusal of the Supreme Court to hear an appeal by the insurance industry, which was trying to block financial institutions from selling insurance

Statistics, Facts & Such

08/01/1991

Patricia Murphy, Editor of CHECKS AND CHECKING, reports that for goods and services over $40, American women prefer to write checks over any other means of payment.

Bank Protection Act UPDATE

05/01/1991

OLD LAW GENERATES MODERN REGULATIONS The mission for the "Super Security Professional" in all financial institutions in the United States just got tougher.

Corporate Debit Card Disclosures

08/27/2007

We are considering offering a debit cards to our corporate accounts, what type of disclosures will be needed?

We have a customer who gave out his debit card PIN to his caregiver so that the caregiver could make withdrawals on behalf of the customer (the customer was always present at the time of withdrawal). The customer's card was stolen and then used at an ATM for 2 unauthorized withdrawals. Are we obligated to return the funds to the customer? Does Reg E protect the customer even though he gave out his PIN?

Debit Card Transaction Time Limit

08/27/2007

How long after a debit card transaction does a merchant have to send it through? Is there a time limit at which it will no longer be valid?

Electronic Right of Offset

08/20/2007

Our lending operations department (not credit card) would like to initiate an EFT through our third party vendor to debit our customer's deposit account to exercise our right to offset for amounts owed on our customer's loan. Our deposit account terms and conditions discloses our right to offset any amounts owed to the bank. We know that generally Reg E, Section 205.3 (c)(5) would allow the bank to electronically transfer funds between a customer's accounts without the customer's specific request under certain circumstances and that the official commentary provides that this exception to Reg E includes the right to initiate "electronic debits or credits to consumer accounts for check charges, stop-payment charges, NSF charges, overdraft charges, provisional credits, error adjustments and similar items that are initiated automatically on the occurrence of certain events." In order to exercise our right to offset electronically, the transaction will need to be processed through our third party vendor. Do we have any Reg E or other regulatory concerns in doing so?

Selling in a Crowded Market

08/20/2007

As more financial institutions enter the market, what is the best approach to prospecting and selling Remote Deposit Capture to your customers?

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