Regulation CC, also known as the Expedited Funds Availability Act, establishes the basic rights, liabilities, and responsibilities financial institutes have regarding the availability of deposited funds. Regulation CC also outlines the rules and regulations banks must follow pertaining to check collection, check processing and substitute checks. This course provides an in-depth look at the regulation’s requirements. This course is intended for deposit operations and compliance personnel.
- Ensure the availability of funds policies, procedures, and practices at your bank are in full compliance with Regulation CC.
- Review systems and procedures with employees to ensure all customers are being provided with disclosures and notices as required by Regulation CC.
- Ensure collection of check policies and procedures at your bank are compliant with Regulation CC.
- Understand the Regulation CC rules regarding substitute checks and ensure compliance with those rules at your bank.
- Initial Disclosures
- Availability of Funds
- Next Day & Two-Day Availability
- Exception Holds/Delayed Availability
- Requirements for Delayed Availability
- Collection of Checks
- Check 21
Rev–Jun. 2020. Course length ≈ 48 minutes.
This course is worth 1.0 CPE credits.