Regulation CC, Subpart C covers the check-collection system and includes rules to speed the collection and return of checks. These rules cover the return responsibilities of Paying and Returning banks, authorization of direct returns, notification of nonpayment on large-dollar returns of the Paying Bank, and mandatory check indorsement standards.

This is the first course of a two-part series. Part 1 covers bank definitions, proper indorsement standards, Paying/Returning and Depositary Bank responsibilities.