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Credit Unions offering RDC Face Increased Risk with Reg CC Proposed Amendment

Mon, Jan 27, 2014

Columbia, Maryland

This is a follow-up to the RISK Alert dated January 14, 2014, Remote Deposit Capture and Duplicate Presentments. A proposed amendment to Regulation CC impacts credit unions offering remote deposit capture (RDC) service. The Federal Reserve Board is proposing a new indemnity provision relating to checks deposited via RDC due to the problem with duplicate presentments that will increase risk to credit unions offering RDC service.

 

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Source: CUNA Mutual