Bank Check Compliance and Liability Protection

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Author: Robert Mulford
Format Looseleaf binder
Price: $499
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The penalties for mishandling checks can include liability and the damages of mishandling even one check can affect the solvency of many banks. Each year, more than 8,000 cases go through the courts involving checks and negotiable instruments, and many more such cases are settled out of court. Due to the complex relationships among the various laws and regulations affecting check processing, even the smallest banks can suddenly encounter enormous liability risk.

Is your check-processing staff truly prepared to manage these risks? Bank Check Compliance and Liability Protection will give you the tools you need to confidently train your entire staff to keep your institution safe. Bank Check Compliance was specifically designed for the back-office staff that handles the large volume of checks processed each day.

You’ll get a transactional approach that leads learners through how the specific laws/regulations — UCC Articles 3 and 4 and Regulation CC (and, when relevant, Regulation J and Circular 3) — affect various aspects of check handling. There are 9 courses and each one covers a different aspect of check compliance and liability protection. The information in each course is broken down into manageable lessons with detailed explanations. Illustrations, tips, examples, references to glossary terms, and citations supplement the learning process.

And to measure the understanding of the material, the user can take review quizzes at the end of each lesson. Answers to each question are provided with explanations and references to the section in the text where the material is discussed. In addition, the Reference Material section includes a table of UCC citations and a glossary.

When the user finishes a set of courses and feels confident of his or her knowledge and understanding of the material, he or she can take a comprehensive examination offered by the administrator.

Some of the benefits you’ll see from using the material include:

Affordable/effective training: This program teaches in practical terms the ins and outs of the legal and regulatory compliance and liability issues related to check handling. The emphasis is on application. The regulations are presented in context of each step of the check processing cycle, so you don’t have to sift through a lot of extraneous material to find what you need.
Liability protection: Now more than ever, even the smallest community banks can be vulnerable to loss in the event of a check-handling error. Small banks can be rendered insolvent by losses – and not just community banks. Savings associations and credit unions are equally affected.
Flexibility: Lets you train new staff as soon as they are hired.
Easy-to-review content: There’s a review test at the end of each segment, with links to the relevant section of the text after each answer
Better comprehension: By working at their own pace, students can be sure they’ve grasped one topic before proceeding to the next.
Time savings: Employees can work through the program at their desk, at their own pace and competency level. This means less time away from the job. More experienced employees interested in refreshing and enhancing their skills will be able to work through the program more quickly than less experienced staff members. They will also be able to save time by focusing only on those areas for which they want to receive additional training.
Avoid exposure: By training their staff on the changes to check-processing regulations, banks can stay in compliance and minimize their exposure to examination problems or litigation.
Document compliance: You can document the student’s completion of the course for the bank’s files to show the regulators that you are in compliance with training requirements.

ABOUT THE AUTHOR

Robert Mulford retired from the Federal Reserve Bank of San Francisco after more than 30 years, where he held several positions including Vice President, General Counsel, and Ethics Officer. As Counsel to Friedemann O'Brien Goldberg & Zarian, he represents clients in litigation, transactional and regulatory matters in the areas of banking, business, commercial and payments law. Mr. Mulford has served as an Adjunct Professor of Law at the Boalt Hall School of Law and as the Chairperson of the State Bar of California Consumer Financial Institutions Subcommittee. He has written and lectured extensively throughout California on banking law. He received his Bachelor of Arts and Juris Doctor degrees from Stanford University. He is a graduate of the Pacific Coast Bartering School.