Consumer awareness.

CFR · 2024-01-01 · US · Title 12

(a) (1) That a substitute check is the legal equivalent of an original check; and (2) The consumer recredit rights that apply when a consumer in good faith believes that a substitute check was not properly charged to his or her account. (b) (i) No later than the first regularly scheduled communication with the consumer after October 28, 2004, for each consumer who is a customer of the bank on that date; and (ii) At the time the customer relationship is initiated, for each customer relationship established after October 28, 2004. (2) (ii) The bank shall provide the disclosure described in paragraph (a) of this section to a consumer customer of the bank who receives a returned substitute check, at the time the bank provides such substitute check. (3)

official document · source cfr-2024 · id 12:§ 229.57