Endorsement and Payment of Checks Drawn on the United States Treasury
January 4, 2010 - 75 FR 95 - RIN: - Download Full Notice: Text | PDF
The Department of the Treasury, Financial Management Service (FMS), is proposing to amend its regulation governing the endorsement and payment of checks drawn on the United States Treasury, to provide that Treasury may direct Federal Reserve Banks to debit a financial institution's account at the financial institution's servicing Federal Reserve Bank for all check reclamations that the financial institution has not protested. Financial institutions will continue to have the right to file a protest with FMS if they believe a proposed reclamation is in error.
Agency Contact: Larry Phelps, Management and Program Analyst, Check Resolution Division, at (202) 874-8263 or larry.phelps@ fms.treas.gov; or William J. Erle, Senior Counsel, at (202) 874-6975 or william.erle@fms.treas.gov.
This is a proposed regulation. Comments were due on March 5, 2010.
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