Should We Require Restrictive Endorsements on Remote Business Deposits?

摘要

Q/I have a question about the remote deposit capture provisions of the newly revised Regulation CC. Under revised §229.34(f), a depositary bank that receives a remotely deposited check generally indemnifies a second depositary bank that has accepted the original paper check. However, the bank accepting the paper check is not protected if the original paper check has a restrictive endorsement consistent with the means of deposit, such as "for mobile deposit only to XYZ Bank."