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Dissecting Regulation CC: Holds, Substitute Checks & Check Clearing Webinar
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When: Archive
2:00 - 3:30 p.m.
Where: In Your Credit Union
Contact: Kristina Kirchmer

Online registration is closed.
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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 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. Also, in this era of remote deposit capture and substitute checks, it is important to understand what a substitute check is (and what it is not), plus the additional rights and liabilities that substitute checks entail. 

What You Will Learn:

  • 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?
    • Check hold chart for easy reference
    • Notices required under Regulation CC

Who Should Attend: This informative session will be useful for all operations personnel, accounting clerks, tax accountants, management, compliance officers, and attorneys. Attendance verification for CE credits provided upon request.

About the Presenter:  Mary-Lou Heighes, CUCE, Compliance Plus, Inc. Mary-Lou Heighes is President and founder of Compliance Plus, Inc. Involved in the credit union movement since 1989, she spent 5 years working in credit unions in almost every position, including loan officer, marketer, and collector. She also worked at the California Credit Union League for 7 years, providing compliance assistance and advising credit unions of regulatory changes. While at the league and for several years thereafter, Mary-Lou advised on state and federal legislative issues.

Compliance Plus, Inc. was founded in 2000 to provide compliance assistance to credit unions. Since then, Mary-Lou has helped credit unions with developing compliance programs, provided compliance training nationwide, and spoken at numerous credit union conferences throughout the country. She has been an instructor at Regulatory Compliance Schools, conducts dozens of webinars for credit-union-related organizations throughout the country, and has written articles for Credit Union Magazine.

Educational Investment:

Archive Only
Over $75 million


$7 - 75 million


Under $7 million