Regulation CC

In response to consumer complaints about lengthy deposit hold times, Congress passed the Expedited Funds Availability (EFA) Act in 1987, ushering in Regulation CC (Reg CC).

Reg CC sets fair and uniform guidelines and required disclosures for how deposited funds are handled and credited to customers’ accounts. It also gives financial institutions the right to delay availability in situations which pose a high risk of fraud.

Sub part B of Regulation CC Compliance deals specifically with this Funds Availability, and therefore presents the most challenges for financial institutions. It stipulates by deposit type the amount of time that institutions can hold a deposit either under normal availability or, if specific criteria are met, under an extension of normal availability.

Learn how to exercise your institution’s rights under Reg CC and still be compliant.