Nearly 20 percent of super-regional banks incurred more than $20 million in check fraud-related operating expenses in 2001. The BITS Collections Working Group created these processing guidelines. The goal of the guidelines is to help improve the overall financial institution collections process for the benefit of both the industry and its customers. The guidelines can also help institutions mitigate unnecessary expenses associated with processing breach of presentment warranty claims, according to the BITS collections working group’s March 2004 report. Reprinted with permission.”]