Unauthorized Checks and Timely Returns

What is the Paying Bank’s obligation and recourse when it pays an unauthorized check, and what obligations does a paying bank have to its customer? What responsibilities does a presenting bank have when it presents an unauthorized check? This session will discuss the warranties made in the Uniform Commercial Code and in Regulation CC by the depositary bank in the presentment of check, and the recourse a paying bank may have when it pays an unauthorized check. Community Bank Operations, Bookkeeping, Check Research, Compliance, and Risk Management Staff would benefit from the information presented.