Dates of Event & Pricing

$395 for Webinar and Playback*

*Playback has no expiration.

  • Both Parts: Wednesday, January 24, 2024

  • 12:00 – 1:00 pm & 2:00 – 3:00 pm (Eastern Time)

  • 11:00 – 12:00 pm & 1:00 – 2:00 pm (Central Time)

  • 10:00 – 11:00 am & 12:00 – 1:00 pm (Mountain Time)

  • 9:00 – 10:00 am & 11:00 – 12:00 pm (Pacific Time)

Curriculum

BACKGROUND

Bankers need to have a thorough understanding of Uniform Commercial Codes (UCC) 3 and 4, as well as Regulation CC, in order to operate effectively within the banking industry. 

  • A lack of understanding of UCC 3 could lead to errors in processing transactions, which can result in significant financial losses for banks and their customers. 
  • Bankers need to be familiar with UCC 4 to ensure that they are compliant with all regulations related to deposit and collection of funds. 
  • Finally, understanding and complying with Regulation CC is crucial for banks to maintain customer satisfaction and avoid regulatory penalties. 


Overall, knowledge of UCC 3 and 4, as well as Regulation CC, is essential for bankers to operate in a safe and effective manner and to maintain the trust of their customers.

Join Wespay, the Regional Payments go-to authority on checks, negotiable items in general and so much more, for this critical 2-part series that will give you and your team everything they need to know for staying compliant with each of these regulations.

In Part One - Uniform Commercial Code of this two-part series, we will review of the check payment system’s regulatory foundation, focusing on UCC. 

  • Uniform Commercial Code Overview
    • UCC 3 - Overview of Negotiable Instruments
    • UCC 4 - Bank Deposits and Collections
    • UCC Transfer Warranties
    • UCC Presentment Warranties
    • Statute of Limitations

  • UCC 3
    • Negotiable Instruments
    • Checks and Demand Instruments 
    • Elements: Payable To, Date, Amount, Payee
    • Indorsements
    • Negotiation
    • Holder in Due Course
    • Official Checks, and Stop Payment Liability
  • UCC 4
    • Final Payment
    • Return Items and 'Midnight Deadline'
    • Rights to Stop Payment
    • Stale-dated items
    • Customer Death and Chargebacks


In Part Two - Regulation CC, we will look at the regulatory foundation with a discussion of Regulation CC, part of the Code of Federal Regulations (CFR). 

  • Subpart A - General
    • Definitions
    • Electronic Checks
  • Subpart B - Funds Availability
    • Availability Schedules
    • Exceptions to Availability Schedules
    • General Disclosure
  • Subpart C - Collection of Checks
    • Indorsements
    • Depository/Paying Banks
    • Non Payment
    • Electronic Check Warranties
    • Remotely Created Checks
    • Restrictive Indorsements
    • Electronically Created Items

  • Subpart D - Check Substitution
    • Defined
    • Warranties and Indemnities
    • Check 21 Compliance  and Liabilities


Scenarios will be used to illustrate key warranties and how breach of warranty situations may be handled.

Instructor

WesPay, VP - Education and Events Connie LaChance

Connie LaChance has been providing payments education and training for WesPay since 2016. Prior to WesPay, Connie has spent nearly twenty years in the credit union industry. For over twelve years, she’s been involved in ACH Operations; eight of those managing ACH operations for the largest credit union in Colorado. Connie has been an Accredited ACH Professional (AAP) since 2011. More recently, Connie has earned the National Check Professional (NCP) certification in 2017 and the Accredited Payments Risk Professional (APRP) accreditation in 2018. In her free time, Connie enjoys spending time outdoors with her husband and two German Shepard puppies.

SVP, Education and Training - WesPay John Curtis

John Curtis has over twenty years of experience in payments and has held positions in Treasury Management, Information Systems and Corporate Training and Development. John was Product Manager for Electronic Payments including ACH, EDI and Emerging Payment Technologies for fourteen years at Bank of the West. He has served as Chairman of WesPay’s Education Committee and as an Advisor to the WesPay Board of Directors. John served as the Chairman of the Board of Payments Resource One (PRO). He is a member of the American Bankers Association Task Force on Payments Law and has lectured on payments topics including legal issues, emerging technologies, compliance and risk management. As Senior Vice President of Education and Training, John Curtis oversees the educational offerings for WesPay to ensure members have access to high quality, timely and relevant training that is critical for success in today’s ever changing payments landscape. Before coming to WesPay, John dedicated the previous fourteen years of his career to the payments arena as a Product Manager for Electronic Payments covering ACH, EDI and Emerging Payment Technologies. He holds both the AAP and NCP accreditations.

Credits

2.0 CPE and 2.4 AAP Credits