I searched the forums and could not find a full comprehensive write up about this topic.
Clawback is a term used when you buy something, receive the miles for it, return the item, and the bank takes back your miles.
This can also happen if you cancel you card right after you receive your sign-up bonus.
Do different banks have different policies?
For example, I just got a chase ink bold, I don't have anything to spend 5k on. Can I spend the 5k and after receiving the bonus return all the items I spent it on? Will Chase take out my points?