Teller Compliance Issues: UCC 3 & 4 Issues, Reg CC and CTRs

Save thousands on check losses when your tellers understand holds and checks. Accomplish annual regulatory training requirements for tellers. Receive a Teller Handbook.

Understanding endorsements and handling checks is crucial to making sound check cashing decisions. A check is a unique type of contract where ownership can be transferred by way of the endorsement on the back of the item. This program will look at who has the right to endorse the back of a check, and where is proper endorsement placement. We’ll also look at what happens if a check is not endorsed properly, when it may be best not to accept the check at all due to missing or problem endorsements and why we do not put business checks into personal accounts and why we do not give less cash on business accounts. Many “tricky” issues will be discussed, such as deceased customers, business accounts, endorsements for minors, income tax check endorsements, trustee endorsements, and endorsements by powers of attorney. Learn the safe way to handle checks and be sure that you and your financial institution can be protected from loss on the negotiable instruments.

Also, in addition to the information on checks we will cover two regulatory aspects of the teller’s position—Regulation CC Holds and the completion of the CTR. Your teller will receive an overview of the hold process and decision making required to place a hold and then can choose the right hold for the situation. Your teller will also receive the basics of the Currency Transaction Report and its sections.

You will receive an electronic teller manual on this information.

What You Will Learn

  • Who is the person entitled to endorse the check?
  • What is a valid endorsement?
  • Bearer versus Order Checks
  • Who is the holder of a check, and what is the holder in due course?
  • Ambiguous endorsements
  • Endorsements for minors, deceased parties, business accounts
  • Witnessed endorsements
  • Check cashing issues for business accounts
  • Endorsements on income tax checks
  • Trustee and power of attorney endorsements
  • The simplest rule about checks that will save your financial institutions thousands of dollars
  • The connections between checks and account agreements-if you have not signed the signature card you cannot get the money
  • Postdated, stale dated, erasures, alterations and more lessons we need to learn
  • Why your institution needs to know about the negligence rule and the bank statement rule
  • Should we check endorsements and send them back as "missing"?
  • Treasury checks, postal money orders and other special checks
  • Why we absolutely do not give cash back, cash or deposit into personal accounts checks made payable to a business
  • Case-by-Case Holds
  • How to make the decision to place a hold
  • How to count days and fill out the forms
  • Basic components of the CTR
  • Having conversations with customers when asked about the CTR

Who Should Attend?

Tellers, Head Tellers, Branch Managers, Back-up Tellers, Floaters, Branch Operations, Training, Compliance, Security and BSA.