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Maryland Court Okays Freeze On Proceeds Of Cashier's Check

(November 20, 2017, 1:57 PM EST) -- In a recent decision from Maryland, the court ruled that a temporary freeze imposed upon the proceeds of a cashier's check deposited into the customer's account did not violate either the  expedited funds availability rules of Reg. CC or the check collection rules of the UCC.

The Maryland case.  In Vanco v. J.P. Morgan Chase Bank, N.A., 2017 U.S. Dist. LEXIS 57275, 92 UCC Rep. 2d 472 (D. Md. 2017), Chase issued a cashier's check payable to Daniela Vanco in the amount of $851,552 on Friday,...
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