Federal agencies issue final amendments to Regulation CC regarding funds availability

Federal agencies issue final amendments to Regulation CC regarding funds availability

WASHINGTON, DC (STL.News) – The Consumer Financial Protection Bureau and the Federal Reserve Board yesterday jointly published amendments to Regulation CC that implement a statutory requirement to adjust for inflation the amount of funds depository institutions must make available to their customers.  The amendments apply in circumstances ranging from next business day withdrawal of certain check deposits to setting the threshold amount for determining whether an account has been repeatedly withdrawn.

Regulation CC implements the Expedited Funds Availability Act of 1987 (EFA Act). 

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