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


Wednesday, February 6, 2013


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


About the Program

Understanding the credit union’s check hold rights and responsibilities can mean the difference between taking a loss and avoiding a loss. Although members may want to use deposited funds immediately, there are times when applying holds can save the credit union (and in some cases the member) from having an item returned. Join us to learn about the maximum time frames and circumstances for correctly placing deposit holds.


Then -there is the return process. This webinar will also address the specific time frames in which to return an item unpaid and the required notifications to the financial institution where the item was deposited.


  • What are the maximum time frames for placing a hold on a deposit?
  • How long can holds be placed on an exception basis? What are the notification requirements?
  • 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?
  • How long does the credit union have to return a check?
  • Must the credit union always reimburse the accountholder for a returned item?

Related Files
Printable Brochure (Adobe PDF File)

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