The Ins and Outs of Checks Part 1: Warranties

Event Details*
Wednesday, April 03, 2024
2:00 - 3:00 pm ET
Webinar; 1.2 NCP CEU Eligible
Level: Intermediate

Event Registration**
Member Price: $150.00
Non-Member Price: $325.00
**$150 member registration fee includes 3 registrations. Additional members may be registered for $25/person. All members must be registered at the same time, and you must be logged in to receive this pricing.


While the use of checks has dwindled over the past several years, check fraud continues to increase. Understanding the warranties and responsibilities of the parties involved in the check deposit and collection process is key to correctly handling check claims.

NEACH is excited to offer a three-part series that dives into the ins and outs of checks. In this session, Part 1 of the series, we explore the check warranties outlined in the Uniform Commercial Code and Regulation CC. What are your rights and responsibilities when one of your account holders reports a fraudulent check posted to their account? Or when another financial institution sends a breach of warranty letter? Understanding the warranties associated with check acceptance and check payment is vital to recognizing how to manage and mitigate the risks associated with checks and understanding which party bears the responsibility for taking the loss when it comes to check claims.

In this session, we explore this topic in detail discussing the warranties of the parties involved in the check deposit and collection process. We will also use case studies to apply what we learn to real-life situations that institutions are likely to experience.

Come join us as we dive into the ins and outs of checks the return and adjustment process part one of our three-part series.


Attendees will:
• Understand the check warranties outlined in the Uniform Commercial Code and Regulation CC
• Examine the implications of check warranties on their financial institution as a paying bank and a bank of first deposit
• Apply an understanding of check warranties to real-life situations


Speaker:
• Mary Mumper-Morrison, AAP, APRP, CAMS, Director, Education, NEACH


Audience:
• Anyone involved in check processing/RDC
• COO
• NCPs
• Operations


*Please note that the access information will be sent to you in a separate email upon receipt of payment. Access information and support are only provided during normal business hours.

**$150 member registration fee includes 3 registrations. Additional members may be registered for $25/person. All members must be registered at the same time, and you must be logged in to receive this pricing.