Holder in Due Course (HDIC) & The Remote Deposit Capture (RDC) Indemnity

Regulation CC’s RDC Indemnity addresses the risk of the paper check that was accepted for remote deposit entering the payment stream and assigns responsibility to the RDC Bank of First Deposit (BOFD). The depositor or BOFD who accepted a paper check may have HIDC rights in the event of a chargeback due to an RDC indemnity claim. This webinar reviews the terms of being an HIDC and discusses how that legal status has consequences when RDC indemnity claims are resolved. Community Bank Operations, Bookkeeping, Check Research, Compliance, and Risk Management Staff would benefit from the information presented.