Archive: 14 June 2017

1
Regulation CC Amendments Reallocate Risks of Remote Deposit

Regulation CC Amendments Reallocate Risks of Remote Deposit

By: John ReVeal

More than three years after proposing amendments to Regulation CC to add new indemnities for remotely deposited checks, new warranties for electronic checks and electronic returned checks, and new indemnities for electronically created items, the Federal Reserve has at last issued final rules. These new rules also modify the expeditious return rules, including by making electronic returned checks subject to those requirements. The final rules were issued on May 31, 2017, and will take effect on July 1, 2018.

To read the full alert, click here.

Copyright © 2019, K&L Gates LLP. All Rights Reserved.