Credit Union told me they will not accept my checks with a “restrictive endorsement”

[ADBrooks11]

So, I've been going to my boss's bank to cash my check with the stamp on the back. Been doing this since the original date of this thread. This past Monday, 12/4/17, I sat in the drive through for 30 minutes while the teller (who'd never seen my check stamp) obviously asked a superior about the stamp.

Teller: Sorry it's taking so long. We're checking on the endorsement on the back. "They" want me to ask you if your employer has asked you to use the stamp.
Me: No
Teller: Why are you using the stamp?
Me: It has to do with Federal Reserve and filing taxes
Teller: OK

She cashed it.

I have a question. I assume the bank has a legal obligation to cash my check that came from them (stamp or not). Does anyone know for sure on their legal obligation on cashing their own checks? I do not have an account with them

[David Merrill]

I have a question. I assume the bank has a legal obligation to cash my check that came from them (stamp or not). Does anyone know for sure on their legal obligation on cashing their own checks? I do not have an account with them

And so does the Credit Union, but they have a clause in the Agreement I am sure that they can close down any account, whenever they please.

This credit union - the whole chain closed down due to redemption practices.

Attachment 5011

That was with a large number of trust accounts going for some time. And the trustees choosing to "non-endorse", to redeem.

Let me tell you what I read in this thread. The Credit Union is telling the truth, just like your assumption quoted in this post. Things fall into perfect order and the Credit Union does not like being subject to FDIC regulation. Within itself maybe, I speculate about the differences between banks and credit unions, it could offer remedy to private credit securitization - but only within itself. You deteriorate the law boundary that might allow that by citing the Bankers' Code outside the credit union's charter.

My point is also that while you have the account open at the credit union they must operate within the contract. The choice is to close the account and the attorneys know it will go a lot better if they can convince you to do so.

The last thing is that you answered to the boss' bank jurisdiction by answering the question. The correct answer is that they need to ask your boss, what your boss thinks. Do not speak for your boss. Peter did this in his impetuous way and the very next breath is denied entry into the House. Read Matthew 17:24-27.

No need to give testimony that fails to meet Rules of Evidence. I speculate though, that you will be fielding ever-more clever questions for a few weeks.

[ADBrooks11]

The last thing is that you answered to the boss' bank jurisdiction by answering the question. The correct answer is that they need to ask your boss, what your boss thinks. Do not speak for your boss. Peter did this in his impetuous way and the very next breath is denied entry into the House. Read Matthew 17:24-27.

No need to give testimony that fails to meet Rules of Evidence. I speculate though, that you will be fielding ever-more clever questions for a few weeks.

Forgive me if I'm misreading the above quote. I didn't feel I was speaking for my boss. I felt I was speaking for myself when they asked me "if my employer asked me to stamp the check". My answer was "no" b/c my employer hadn't asked and knows nothing of the stamp.

Thank you for the reply