Checking Accounts

News & Analysis as of

CFPB releases compliance costs report

The CFPB recently released a report on the operational costs of regulatory compliance. The 176-page report is entitled “Understanding the Effects of Certain Deposit Regulations on Financial Institutions’ Operations: Findings...more

Beyond Dispute - June 2013: New York’s Highest Court Clarifies Who Bears the Risk of Loss in Counterfeit Check Schemes

In a case argued successfully by Phillips Lytle LLP, the New York Court of Appeals clarified that the depositor bears the risk of loss on a counterfeit check until settlement becomes final. Greenberg, Trager & Herbst, LLP v....more

Pew Report on Checking Account 'Best Practices' Draws Questionable Conclusions

The Pew Charitable Trusts has released a report on the safety and transparency of checking accounts. The study questions whether banks are sufficiently engaged in what Pew deems "best practices" and concludes that the...more

FDIC Supervisory Insights Focuses On Mobile Payments And High-Yield Checking

On December 17, the FDIC published the Winter 2012 issues of Supervisory Insights. The two featured articles focus on mobile payments and high-yield checking. In “Mobile Payments: An Evolving Landscape,” FDIC staff (i) review...more

Last Minute Gifting By Check

Time is running out for 2012 gift giving. End of year gifting by check is always an issue for those trying to use their annual exclusion amounts, but in 2012 the issue also relates to those attempting to make larger gifts to...more

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