Understanding Regulation CC Holds and Monitoring Techniques
Regulation CC (12 CFR 229) requires that depositary institutions make funds deposited into accounts available according to a specific schedule and that they disclose their policies for the availability of funds to consumers. Changes to the requirements will take effect on July 1, 2020.
Regulation CC is both a consumer protection regulation and a safety and soundness regulation. You need to understand the fundamentals and explore the updates to balance protecting the customer and the bank.
- What are the definitions in Regulation CC?
- When must institutions make funds available?
- When may you place a hold on a deposit?
- What changes will take effect on July 1?
- What disclosures are required at account opening, when deposits are received, and when holds are placed on deposits?
- How can you ensure compliance through regular monitoring?
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