New Mobile Deposit regulation goes live – July 1, 2018
A new statute from the Federal Reserve, regarding mobile deposits, goes into effect on July 1st, 2018. Known as Regulation CC, this new policy allows financial institutions to protect themselves from check fraud associated with remote deposit capture (RDC), the technical term for depositing checks by taking a photo with your cellphone. Anyone taking advantage of this convenient service will be required to use new, specific language while endorsing their checks.
What Does It Mean For Me?
From now on, Call Federal members will be required to endorse all checks with the phrase “For MDC at CFCU” or “For Mobile Deposit at Call Federal” in addition to their signature. Checks with incomplete endorsements may cause a delay in processing and will cause the deposit to be rejected in the future.
Share this post
April 1, 2017
The Children’s Museum of Richmond (CMoR) is pleased to announce the unveiling of new bank exhibits coming to …Read More about New Bank Exhibit Coming To The Children's Museum of Richmond
June 2, 2017
Call Federal Credit Union has awarded $10,000 as part of the Alice S. Pearce Scholarship program. The program …Read More about Call Federal Awards Local Students through the 2017 Alice S. Pearce Scholarship
January 24, 2017
Grand opening for Call Federal promises a new banking experience The second retail-style branch of Call Federal credit union …Read More about New Call Federal retail style branch opening in Chester