Regulation CC (Reg CC) Compliance

Regulation CC (Reg CC) is a financial services regulation that applies to all deposits made into consumer or business demand deposit accounts (DDAs).  Reg CC was enacted to provide fair and uniform guidelines and disclosure to customers about how their deposited funds will be handled and credited to their accounts. 

Under Reg CC there are different hold times for just deposited funds depending on the type of deposit, the location of the bank that the funds are drawn on and the amount of the deposit. These guidelines can be confusing and it is estimated that 70% of the time front-line teller and platform staff provide customers inaccurate information on the hold times of their deposits. This contributes to 11% of banks being fined annually for Reg CC violations.

Regulation CC is a challenge to train and to maintain consistently at the teller line. ATTUS Technologies now offers WatchDOG® for Reg CC, the first automated front-line solution to address all areas of funds availability accurately, right down to proper execution and disclosure.

For additional information on Reg CC, check out The Federal Reserve Board's Guide for Financial Institutions, click here: http://www.federalreserve.gov/pubs/regcc/regcc.htm.