RCC

$150 million was being mailed out this week to nearly 740,000 customers of Wachovia Corporation. The money was sent to those consumers who may have been harmed by payment processors for telemarketers as reports the Office of the Comptroller of the Currency (OCC). The OCC reached an amended settlement with Wachovia Bank over the account relationships the bank maintained with telemarketers who used remotely created checks, or RCCs, to harm Wachovia customers.