> Webinar: Dissecting Regulation CC: Holds, Substitute Checks & Check Clearing

Wednesday, February 06, 2013
3:00 PM Eastern Daylight Time
4:30 PM


Understanding the credit union’s check hold rights and responsibilities can mean the difference between taking a loss and avoiding a loss. Although members may want to use deposited funds immediately, there are times when applying holds can save the credit union (and in some cases the member) from having an item returned. Join us to learn about the maximum time frames and circumstances for correctly placing deposit holds.  

Then there is the return process. This webinar will address the specific time frames in which to return an item unpaid and the required notifications to the financial institution where the item was deposited. Also, in this era of remote deposit capture and substitute checks, it is important to understand what a substitute check is (and what it is not), plus the additional rights and liabilities that substitute checks entail.


  • What are the maximum time frames for placing a hold on a deposit?
  • How long can holds be placed on an exception basis? What are the notification requirements?
  • Is there a difference between a teller check and a cashier’s check?
  • Does a hold notice need to be provided at time of deposit?
  • What’s the difference between a copy of a check and a substitute check? Why is it important?
  • Who is entitled to the special protections for substitute checks?
  • Are special notices required when substitute checks are returned to the accountholder?
  • How long does the credit union have to return a check?
  • Must the credit union always reimburse the accountholder for a returned item?
  • Check hold chart for easy reference
  • Notices required under Regulation CC

This informative session will be useful for all operations personnel, accounting clerks, tax accountants, management, compliance officers, and attorneys.

ABOUT THE PRESENTER – Mary-Lou Heighes, CUCE, Compliance Plus, Inc.
Mary-Lou Heighes is President and founder of Compliance Plus, Inc. Involved in the credit union movement since 1989, she spent 5 years working in credit unions in almost every position, including loan officer, marketer, and collector. She also worked at the California Credit Union League for 7 years, providing compliance assistance and advising credit unions of regulatory changes. While at the league and for several years thereafter, Mary-Lou advised on state and federal legislative issues.

Compliance Plus, Inc. was founded in 2000 to provide compliance assistance to credit unions. Since then, Mary-Lou has helped credit unions with developing compliance programs, provided compliance training nationwide, and spoken at numerous credit union conferences throughout the country. She has been an instructor at Regulatory Compliance Schools, conducts dozens of webinars for credit-union-related organizations throughout the country, and has written articles for Credit Union Magazine.

PLEASE NOTE: Your registration fee allows you to have one telephone connection. However, as many people as you like may listen from your office speaker phone.  If you register for the webinar, your registration fee also includes one internet connection from a single computer terminal.

The LIVE WEBINAR option allows you to have one telephone connection for the audio portion and one Internet connection (from a single computer terminal) to view online visuals as the presentation is delivered. You may have as many people as you like listen from your office speaker phone.  Registrants receive a toll-free number and pass code that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, pin number, and handouts will be emailed to you prior to the broadcast. You will need the most current version of Adobe Reader available free at www.adobe.com.

Can't attend the live webinar?  The ON-DEMAND WEB LINK** is a recording of the live event including audio, visuals, and handouts. We even provide the presenter's email address so you may ask follow-up questions. Approximately 1 week prior to the webinar, you will receive an email with the web link. This web link can be viewed anytime 24/7, beginning 6 business days AFTER the webinar and will expire 6 months after the live program date.  But there's more . . . AS AN ADDED BONUS, you will also receive a FREE audio/visual CD ROM.* The CD ROM includes the original audio/visual presentation, the question and answer sessions, and the handouts. Use the on-demand link or this "off-the-shelf" training program for those that could not attend the live seminar and for future training.

*CD Rom for PC use only
**All materials are subject to copyright and intended for your credit union's use only.

NEW! Listen on your iPad, iPhone, or Android. Instructions will be emailed to you with the on-demand link.

$199.00 Webinar per connection
$199.00 Archived On-Demand Web Link & Free CD ROM
$249.00 Both Live Webinar & Archived On-Demand Web Link & Free CD ROM

TIME: 3:00 p.m. - 4:30 p.m.

To register and pay by check, email Mary Zelinsky at mzelinsky@njcul.org and your credit union will be invoiced. To register and pay online, click here.