Our front line staff creates the hold notice and then sends to the Fraud Dept to review and put on the system.
Often times the front line does the Hold Notice Wrong. If we change the Hold Notice we send the customer a new one. If we decide the hold is not necessary are we required to send notification to the customer informing them their funds are available sooner then we originally informed them?
Reg CC is for transaction accounts - both consumer and business. If a business has a large deposit exception hold placed for the wrong amount (held 7 days for full amount when it should have held the excess over $5,000 until the 7th business day) Is this error a Reg CC violation? Some say it is a business account so it doesn't count as a violation for Reg CC.
There seems to be some confusion regarding Reg CC and a new account hold. If the item is not a next day item and say a personal check, do we have to make the first $5000 available or can the entire amount be held for 9 business days?
Can you tell me the required signage for an ATM?
Does the Dodd Frank Act or compliance require banks to process loan payments that are dropped off in the night drop after the night drop has been closed for the day but the branch drive through is still open?
The bank that I am currently working for states in their policy that if a customer wants to deposits an official check with a special deposit ticket the bank must verify the check with the issuing bank before they can use the special deposit ticket. Is this allowed as part of a policy? I have never heard of anyone doing this. There is nothing in Rec CC about verifying the check.
What is the statute on returning Counterfeit Unauthorized Paper Drafts?
Can a bank or credit union put a hold or extended hold on a check that has been second endorsed or when the first endorser cannot be verified?
How should a returned check be handled in the branch? Does the customer need to be notified in advance of the returned check before the funds are debited from their account?
If we are putting a case by case hold on a check that is part of a multiple checks deposit, do we give $200.00 next day available? IE: Deposit amount is $13,000, and we want to put a hold on a $3600.00 item. Do we place a hold on $3600.00, or do we place a hold on $3400.00?