Stop That Payment! - 2016
Presented by
Mary Beth Guard
Recorded on April 27, 2016
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2.0 hours
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ICB Credit: 2.5 CRCM
Not so long ago, stopping payment was an easy thing. The payment was either a check or an ACH item, and all you had to do was make sure you selected the right form for the customer to complete. Now, check conversions and image presentments have thrown confusion into the mix, making the handling of stop payment more complex.
Dramatic increases in the use of ACH transactions by consumers have made it more important than ever that bankers understand the relationship between Regulation E's stop payment provisions and ACH rules. It's also important that bank employees understand the relationship between revocations of preauthorized EFTs and stop payments.
Bankers must understand the differences between the use of their systems' stop payment functionality and the actual right to stop payment. Not all payments can be stopped, and it's important that bankers know which items will almost always get them into trouble if the bank refuses payment. Failure to understand this concept can lead to lawsuits, increased legal costs, and significant losses.
In this webinar, Mary Beth will cover:
Participants in the webinar will better understand how to respond when their customer says, "Stop that payment!"
Mary Beth Guard
Stop That Payment!
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