Payment Systems and Negotiable Instruments (4991)
Formerly named UCC - Payment Systems and Negotiable Instruments
(U.C.C. Articles 3, 4 & 4A; F.R.B. Reg. CC)
Covers how the banking system works, negotiable instruments under UCC Article 3 (negotiability, holder in due course, payment and warranty obligations, forgery, fraud, alteration, and theft), bank deposits and collections (Federal Reserve Board Regulation CC, UCC Article 4), electronic funds transfers (Federal Reserve Board Regulation E, UCC Article 4A), how credit cards and debit cards work, letters of credit (UCC Article 5), documents of title (UCC Article 7), and emerging payment products in electronic commerce.
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