Two R's In Check Cashing

-Probably the Reserve Requirements, if they didn’t have that the bank would be able to screw the government and anyone who uses the bank.

c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)

As a result, credit unions are more personal than banks are, and it is clear that they care about your finances. When you walk into a credit union, it is likely that you are greeted by someone you know, and it is usually a speedy event. Also, since they are owned and operated by the members, the members get a say in the credit union's decisions. Credit unions put the members first, and don't have the main goal of making a profit.

c. List three facts about checking account options at the bank or credit union you chose. (3 sentences. 1.0 points)

a majority of large banks require auditors to use electronic cash confirmation requests and, as a

3. All negotiable instruments will be verified by calling the bank, which the check is drawn, for verification of authenticity and ensure that there are no stop payments.

To elaborate further, a banking representative is required to present or extend some kind of product referral after every conversation. The representative makes the referral and phrases something incorrectly. If the consumer misinterprets the information and later disputes the validity of a debt, a lawsuit will arise. Most of the time, if the expense is petty, a firm will pay out a demand without dispute. If the issue goes to court and is pursued, the conversation between the representative and the consumer will be reviewed and interpreted in favor of the consumer. As a result of common complacency issues, the government imposed regulations to reduce the frequency of claims. Preventing unnecessary suits, fees, or fines is a priority amongst all financial institutions and Sun Trust should have incorporated such external influences in their risk register along with contingencies to resolve the issues and implement preventative measures.

Individuals should take the time to carefully review their bank statement in order to help secure their own accounts and the things that banks overlook.

Under the Uniform Commercial Code (UCC), section 3-302, the bank took the check for value, in good faith, without notice that the check was dishonored, and had not been altered. Therefore, the credit union paid the check, indorsed the instrument, and submitted to the maker for payment. (Law.Cornell.com, 2015) Due to the fact that the Credit union met the requirements of the UCC, section 3-302 they are a Holder in Due Course.

Cashier’s checks are checks written by the bank assuring that the amount of money on the check is right and will not bounce.They work by giving the money to the bank that you will use to for the big purchases that you will do like buying a car, a house, or lease a business.Cashier’s checks are required for these purchases because it is guaranteed by the bank that has the cash.

What do the three R's stand for? Reduce, recycle, and reuse are the three R's. The most essential way to reduce waste is to avoid creating it in the first place. According to the U.S. Environmental Protection Agency each person created 2.7 pounds of waste each day in 1960. Look for durable products that will last a long time. Reuse can mean investing in items that can be reused. Recycle also keeps usable materials out of the landfill. Recycling consists of three basic steps. The three R's have several advantages, including cutting greenhouse gas emissions and

a. To avoid suffering the kinds of monetary losses we have experienced in the past, our credit union prohibits the cashing of third party checks presented by our members.

 The member deposits precisely $10,000 in cash and advises the teller that he need not prepare a CTR because the deposit is below the reporting

-Credit unions are nonprofit, member-owned institutions. The lesson said like banks, they are able to provide loans through deposits to checking and saving accounts

In order to ensure that banknotes in circulation are in good condition, the centres distribute new banknotes to local commercial banks, dispose unfit banknotes, verify and manage the redemption of damaged or counterfeit banknotes