Webinar: Dissecting Regulation CC: Holds, Substitute Checks & Check Clearing

Start: 3:00 pm
End: 4:30 pm
Event Days: 02/06/2013 - 02/06/2013

Understanding your credit union's check hold rights and responsibilities can mean the difference between taking a loss and avoiding a loss. This webinar will cover the maximum time frames and circumstances for correctly placing deposit holds, as well as the specific timeframes for returning an item unpaid and the required notifications to the financial institution where the item was deposited. You'll also receive a takeaway toolkit containing a check hold chart for easy reference and sample notices required under Regulation CC.

About This Session:

This webinar will also cover the following topics:

  • Is there a difference between a teller check and a cashier's check?
  • Does a hold notice need to be provided at time of deposit?
  • What's the difference between a copy of a check and a substitute check? Why is it important?
  • Who is entitled to the special protections for substitute checks?
  • Are special notices required when substitute checks are returned to the accountholder?
  • Should your credit union always reimburse the accountholder for a returned item?

Who Should Participate:

Operations personnel, accounting clerks, tax accountants, management, compliance officers and attorneys.

About the Presenter:

Mary-Lou Heighes, CUCE, Compliance Plus, Inc.

Compliance Plus, Inc. President/Founder Mary-Lou Heighes has been involved in the credit union movement since 1989, including five years working in credit unions and seven years with the California Credit Union League, where she provided compliance assistance and advised credit unions of regulatory changes. Since founding Compliance Plus, Inc. in 2000, Heighes has helped credit unions nationwide develop compliance programs and has delivered training and webinars throughout the country. She has also authored articles for Credit Union Magazine.