Banks Need To Protect Themselves From Customer Dual-Signature Requirements

LexisNexis (February 21, 2023, 1:30 PM EST) -- Every banker knows that many business customers have a requirement, on the face of their checks, of two signatures (or more) in some situations. Most typically, the number of required signatures increases with the face amount of the check. In the usual case, a dual-signature requirement is imposed by the customer for its own internal security, and the bank is not involved. Yet the requirement imposes risks on the bank....