Understanding
the laws, regulations, and rules for check clearing and settlement is a must
for every institution. The ability to answer puzzling questions about a check
and your organization’s role in the transaction are clues that help solve the
question of what happens next.
This class
investigates the legal framework for the check payment channel including
commonly used terms and responsibilities of the parties to the transaction. Discussion
includes a review of check cases to illustrate check law in action.