{"id":2640,"date":"2021-09-24T16:55:49","date_gmt":"2021-09-24T16:55:49","guid":{"rendered":"https:\/\/albanknews.com\/?p=2640"},"modified":"2021-09-24T16:56:30","modified_gmt":"2021-09-24T16:56:30","slug":"2640","status":"publish","type":"post","link":"https:\/\/albanknews.com\/?p=2640","title":{"rendered":"Compliance Q&#038;A: Returned Check Considerations"},"content":{"rendered":"<p><strong>Question: Is a bank required to notify customers of a deposited check being returned?<\/strong><\/p>\n<p><strong>Answer:<\/strong> Yes, Regulation CC, \u00a7 229.33(h), requires providing notice to a customer of a check being returned by midnight of the banking day following the banking day on which the bank receives notice of the check either being returned or nonpayment. A notice provided in accordance with this section may also satisfy the exception hold notice requirements, if the bank will place an exception hold on the basis of the nonpayment notification and otherwise meets the exception hold notice requirements.<\/p>\n<p>Notification to customer. If the depositary bank receives a returned check, notice of nonpayment, or notice of recovery under \u00a7229.35(b), it shall send or give notice to its customer of the facts by midnight of the banking day following the banking day on which it received the returned check, notice of nonpayment, or notice of recovery, or within a longer reasonable time. Regulation CC, \u00a7 229.33(h) &#8211; <a href=\"https:\/\/www.ecfr.gov\/cgi-bin\/text-idx?SID=35b0b61237b153e41051d2fd905844bb&amp;mc=true&amp;node=se12.3.229_133&amp;rgn=div8\">https:\/\/www.ecfr.gov\/cgi-bin\/text-idx?SID=35b0b61237b153e41051d2fd905844bb&amp;mc=true&amp;node=se12.3.229_133&amp;rgn=div8<\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>Compliance Alliance offers a comprehensive suite of compliance management solutions. To learn how to put them to work for your bank, call <strong>(888) 353-3933<\/strong> or email <a href=\"mailto:info@compliancealliance.com\"><strong>info@compliancealliance.com<\/strong><\/a> and ask for our Membership Team. For timely compliance updates and resources, <a href=\"http:\/\/eepurl.com\/bjXIVv\"><strong>subscribe to <\/strong><strong>Bankers<\/strong><strong> Alliance\u2019s email newsletters<\/strong><\/a>.<\/p>\n<p><strong>Not a member?<\/strong> Learn more about membership with Compliance Alliance by attending one of our live demos:<\/p>\n<ul>\n<li><a href=\"https:\/\/compliancealliance.com\/news-events\/event\/live-membership-demo-09-28-2021\"><strong>Live Demo on Tuesday,\u00a0September 28<sup>th<\/sup> 10:00 am CT<\/strong><\/a><\/li>\n<li><a href=\"https:\/\/compliancealliance.com\/news-events\/event\/live-membership-demo-09-30-2021\"><strong>Live Demo on Thursday,\u00a0September 30<sup>th<\/sup> @ 1:00 pm CT<\/strong><\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: Is a bank required to notify customers of a deposited check being returned? Answer: Yes, Regulation CC, \u00a7 229.33(h), requires providing notice to a customer of a check being returned by midnight of the banking day following the banking day on which the bank receives notice of the check either being returned or nonpayment. A notice provided in accordance with this section may also satisfy the exception hold notice requirements, if the bank will place an exception hold on the basis of the nonpayment notification and otherwise meets the exception hold notice requirements. Notification to customer. If the depositary [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1070,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19,33,23],"tags":[],"class_list":["post-2640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-compliance-qa","category-publications","has_thumb"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/albanknews.com\/wp-content\/uploads\/2017\/11\/compliance-alliance.png?fit=800%2C800&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/s4Y3P2-2640","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/2640","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2640"}],"version-history":[{"count":2,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/2640\/revisions"}],"predecessor-version":[{"id":2643,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/posts\/2640\/revisions\/2643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=\/wp\/v2\/media\/1070"}],"wp:attachment":[{"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/albanknews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}