Need to verify check fraud losses based on the reports from the ABA that we have.
Need to verify source and stats. Not sure which year of the ABA Report these stats are from.
43% of deposited checks at Mid-Sized FIs are protected by a standard Reg CC hold. At Community FIs, only 41% are protected.
What are the implications of the fact that most RDIs aren’t received until after the standard Reg CC holds have expired? There is an inherent risk in simply using standard day holds for protecting your FI and members from check losses. This chart shows how an extended hold protects your FI from losses from RDIs while it is waiting for funds to clear from the paying FI. The greatest potential for loss is on Day 2 and Day 3 after a deposit is received because most RDIs won’t come in until Day 3 or later, leaving your FI exposed to losses on funds that according to Reg CC they must make available for withdrawal.
Need to verify check fraud losses based on the reports from the ABA that we have.
