Common use of REVERSAL OF RE-CREDIT Clause in Contracts

REVERSAL OF RE-CREDIT. A financial institution may reverse a re-credit to a consumer account if the financial institution (1) determines that a substitute check for which the financial institution re-credited a consumer account was in fact properly charged to the consumer account; and (2) notifies the consumer in accordance with “NOTICE TO CONSUMER” provisions below.

REVERSAL OF RE-CREDIT. A financial institution may reverse a re-re- credit to a consumer account if the financial institution institution (1) determines that a substitute check for which the financial institution re-credited a consumer account was in fact properly charged to the consumer account; and (2) notifies the consumer in accordance with “NOTICE TO CONSUMER” provisions below.