January 2018 FDIC Guidance Link Just to recap the upcoming change to Regulation CC includes an amendment to Subpart B of Regulation CC, which comes from Dodd Frank. On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time, Research time saved daily & weekly across forms, checklists, and trainings — for every regulation, Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff, A sounding board for support and reassessment when institutional goals or the regulatory environment changes, Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions, The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations. Checks on Pacific Island banks are now considered local checks, just like checks drawn on the bank across the street. Have a great weekend! FFIEC Guidance Link Is outsourcing vehicle titling a game changer? Enabling tax and accounting professionals and businesses of all sizes drive productivity, navigate change, and deliver better outcomes. December 2019 funds you deposit by check which may be delayed for a longer period: You deposit checks totaling more than $5,525 on any one day. All rights reserved. (844) 533-9211Monday – Friday 8:00 am – 5:00 pmSaturday 9:00 am – 12:00 pm, Mailing Address: All It’s never too early to start! However, early compliance is permitted. Wolters Kluwer is a global provider of professional information, software solutions, and services for clinicians, nurses, accountants, lawyers, and tax, finance, audit, risk, compliance, and regulatory sectors. This site is a product of the Federal Reserve Banks. Regulation CC implements the Expedited Funds Availability Act of 1987 (EFA Act). On June 24, 2019, the Bureau of Consumer Financial Protection (the Bureau) and the Federal Reserve Board (the Board) jointly announced a final rule amending Regulation CC. TYPES OF DEPOSITED ITEMS CASE-BY-CASE HOLDS EXCEPTION HOLDS DEPOSITED IN PAYEE’S ACCOUNT NOT DEPOSITED IN PAYEE’S ACCOUNT At Teller Station At Teller Station New Account (1) Tier 1: First … (Wales) Regulations 2020, as amended with the changes illustrated This document has been prepared by the Office of the Legislative Counsel in the Welsh Government. Rising Interest Rates Reg E 229.13(a), The $5,000 large deposit threshold under Sec. Please note email is not secure, therefore it is not safe to send confidential information such as account numbers or social security numbers. In addition, the following changes also apply to those. The current adjustment impacts a number of dollar amounts incorporated into Subpart B of the Regulation including: The amendments being made to Regulation CC that are coming out of the Economic Growth, Regulatory Relief, and Consumer Protection Act include extending coverage of the Expedited Funds Availability Act, which is implemented by Regulation CC, to American Samoa, the Commonwealth of the Northern Mariana Islands, and Guam. Trusted clinical technology and evidence-based solutions that drive effective decision-making and outcomes across healthcare. This change impacts both consumer and commercial accounts. The same change required Pacific Island banks to comply fully with Regulation CC. February 2020 The Military Lending Act As a result, financial institutions that offer checking accounts will need to update their funds availability disclosure to reflect the changes to their policy (i.e., the changed dollar amounts).