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Fed Amends Rules on Check-Collection Disputes

Sept. 13, 2018 — The Federal Reserve Board approved final amendments to the liability provisions of Regulation CC, which governs availability of funds and collection of checks. The amendments affect disputes between banks when original paper checks are unavailable for inspection.

When the original check is not available, the final amendments update Regulation CC to include a presumption that a substitute or electronic check was altered in certain cases of doubt. The amendments take effect Jan. 1, 2019.

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