What is it called when the bank stamps the back of a check that has been deposited? Endorsed?
Yes, the bank's stamp is a form of endorsement. Until several years ago, it was common to find several banks' endorsements on checks, often with wording like "pay any bank, prior endorsements guaranteed, or PEG." All of that became superfluous and now bank endorsements are very concise, often consisting of an abbreviation of their name and their bank routing number.
The purpose of this is to allow for the tracking of the hands through which the check passes, so that liability for the check can be determined if the check isn't paid. Endorsements mean liability when checks bounce.
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Yes, the bank's stamp is a form of endorsement. Until several years ago, it was common to find several banks' endorsements on checks, often with wording like "pay any bank, prior endorsements guaranteed, or PEG." All of that became superfluous and now bank endorsements are very concise, often consisting of an abbreviation of their name and their bank routing number.