Time to bring action against a Reserve Bank:
Time to bring action against a Reserve Bank:
Claims against Reserve Banks for failure to act in good faith or exercise ordinary care must be brought within two years. Additionally, claims against Reserve Banks for warranties given on electronic items that are not substitute checks must be brought within one year. These time frames are specified to ensure that issues are addressed promptly.
Under Regulation J, claims against Reserve Banks for failure to act in good faith or exercise ordinary care must be brought within two years. This time frame is specified for claims related to Reserve Banks' handling of items.