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September/October,
2005
OCC
Releases Consumer Advisory On
August 2, 2005, the OCC issued a consumer advisory giving consumers
information about their rights when using checks to make payments.
The advisory, “Writing a Check: Understanding Your Rights,”
discusses the different ways checks can be processed, and the
significance for consumers of those differences. Many checks are now
being processed electronically, which may mean that funds are taken
from customers’ bank accounts more quickly than before. As a
result, it is even more important that customers know that they must
be careful to assure that they have enough money in their accounts
to cover checks at the time they write them. In addition, bank
customers may be surprised to learn that when checks are processed
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