Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Bank Fraud Alert And Penalties topic
No spam. Unsubscribe anytime.
Treasurer stopped bank fraud-alert service after missed ACH payment; commissioners demand records
Summary
A missed April payment generated $316.12 interest and a $1,636.86 penalty, prompting committee questions after Treasurer Valerie Tracey said she canceled Huntington Bank's ACH/Check Positive fraud-alert service because she saw no fraud history.
The committee probed a missed April payment to the State of Michigan that carried $316.12 in interest and a $1,636.86 penalty. Treasurer Valerie Tracey explained operational details of bank notifications and said she had stopped the Huntington Bank ACH/Check Positive service because she believed the service cost more than it saved and there was "no history of fraud issues," though she could not recall an actual fraud incident that staff had documented.
Commissioners pressed for data to explain rejected transactions, bank records, and notification logs. Commissioner Bob Baldwin asked that Tracey gather specific information and promised the committee would review bank rejections and notification timing at the 7/8/26 committee meeting to determine whether internal procedures or the bank's timing caused the missed payment.
