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Clarks' The Law of Bank Deposits, Collections and Credit Cards

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ISBN: 9780769878805
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ISBN: 9780769880228
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Drafting Tips, Compliance Guidelines, Litigation Strategies

The rules governing bank deposits and collections are not always clear. Yet strict deadlines force you to make decisions fast -- knowing that one wrong move could mean costly legal trouble for your bank.

The Law of Bank Deposits, Collections and Credit Cards -- cited by the courts and renowned for its thoroughness, authority, and currency -- guides you safely through the maze of today’s tough statutes and regulations and ever-changing case law. At a glance, you can find all the guidance you need to avoid legal complications for your institution or client involving bank deposits, collections, and credit cards. The authors also provide an in-depth look at important cases and provide concrete, workable ideas and guidance on what action you can take to prevent possible problems.

This comprehensive reference does so much more than just report the law; it gives you everything you need to map out a course of action that will help prevent legal complications and help you prevail in court should a lawsuit occur. You’ll get answers to all your questions on such issues as:

•  Suggested provisions for your deposit agreement
•  Compliance with CFPB regulations affecting consumer deposit accounts
•  ACH mobile payment rules
•  Mitigating risks resulting from corporate deposit account takeover by hackers
•  The Credit CARD Act
•  EFT transfers under Regulation E
•  The use of contractual “cutdown” deposit agreement provisions to limit the risk of check or wire fraud
•  Wire transfers under Uniform Commercial Code (UCC) Article 4A and FedWire
•  Legal and operational problems surrounding bank setoff
•  Federal preemption
•  The impact of Regulation CC on check kiting cases
•  How banks can protect themselves against “desktop forgery”
•  Whether there is a duty to report a suspected kite
•  How the Revised UCC affects forged endorsement cases
•  When payment can be stopped on cashier’s checks
•  Compliance problems under Regulation DD (Truth in Savings)
•  Interstate banking and its impact on collection and payment
•  Consensual security interests in deposit accounts under Revised Article 9 of the UCC
•  Suggested state-of-the-art provisions for your deposit agreements
•  Bank liability for late return of checks
•  Bank collection of documentary drafts
•  How banks can “export” credit card interest rates and other terms
•  Stored-value products and other new payment systems
•  Cash management products
•  Legal pitfalls in garnishment of deposit accounts
•  Bank liability for depositor wrongdoing

To get the best available guidance on bank deposits and collections, order The Law of Bank Deposits, Collections and Credit Cards today!

The eBook versions of this title feature links to Lexis Advance for further legal research options.

Authors / Contributors

Table of Contents

Table of Contents


Chapter 1 Introduction and General Principles

Chapter 2 Relationship Between Drawer and Payee: Negotiable Instruments Law

Chapter 3 Relationship Between Drawer and Drawee Bank

Chapter 4 Relationship Between Holder and Drawee Bank

Chapter 5 Rights and Duties of Collecting Banks


Chapter 6 Final Payment and the Midnight Deadline

Chapter 7 Funds Availability Under Regulation CC

Chapter 8 Check Collection Under Regulation CC

Chapter 9 Check Fraud: Kiting

Chapter 10 Check Fraud: Forged and Counterfeit Checks

Chapter 11 Check Fraud: Alterations

Chapter 12 Check Fraud: Forged Indorsements

Chapter 13 Bank Collection of Documentary Drafts

Chapter 14 The Letter of Credit


Chapter 15 Bank Credit Cards

Chapter 16 Truncation, Conversion, Image Exchange, and Stored Value

Chapter 17 Wire Transfers

Chapter 18 Setoff and Security Interests

Chapter 19 Truth in Savings

Chapter 20 Cash Management Products

Chapter 21 Garnishment of Deposit Accounts

Chapter 22 Bank Liability for Depositor Wrongdoing

Chapter 23 Money Laundering

Chapter 24 Remittance Instruments

Table of State Enactments of Revised Articles 3, 4, and 4A

Old and Revised UCC: Correlation Tables

Table of Cases

Table of Statutes