Each method of returning a check to the Depositary Bank, whether through a return or an adjustment, has distinct advantages and potential impacts on customers.

As a follow up to the Check Rules & Regulations session, participants will hear from industry experts as they discuss the Paying Bank's legal right to return a check within strict deadlines compared to the more flexible time frame for check adjustments. Topics also include the most common adjustment types seen by the Federal Reserve Bank, the differences in the adjustment process based on the clearing path, and when and how to make a breach of warranty claim.

Learning Objectives:

• Distinguish between a return and an adjustment.
• Determine the timing for a compliant return.
• Recognize when to file an adjustment and breach of warranty claim.
• Establish the timing for adjustments.

Duration: 90-minutes

Recorded on November 6, 2024.