Regulation CC: Funds Availability Act - In Depth

Regulation CC, also known as the Expedited Funds Availability Act, establishes the basic rights, liabilities, and responsibilities financial institutes have regarding the availability of deposited funds. Regulation CC also outlines the rules and regulations banks must follow pertaining to check collection, check processing, and substitute checks. This course provides an in-depth look at the regulations requirements. This course is intended for deposit operations and compliance personnel. 

Regulation CC implements two laws: the Expedited Funds Availability Act and the Check Clearing for the 21^st Century Act, also known as Check 21. The regulation sets forth the requirements that banks make funds deposited into transaction accounts available according to specified time schedules and that they disclose their funds availability policies to their customers. It also establishes rules designed to speed the collection and return of checks and electronic checks and describes requirements that affect banks that create or receive substitute checks; including requirements related to customer disclosures and expedited recredit procedures.

Course Learning Objectives

By taking this online Regulation CC: Funds Availability Act - In Depth course, the user will learn to:

• Ensure the availability of funds, including policies, procedures, and practices at your bank, are in full compliance with Regulation CC
• Review systems and procedures with employees to ensure all customers are being provided with disclosures and notices as required by Regulation CC
• Ensure collection of check policies and procedures at your bank are compliant with Regulation CC
• Understand the Regulation CC rules regarding substitute checks and ensure compliance with those rules at your bank

Course Outline

This online Regulation CC: Funds Availability Act - In Depth course is made up of the following sections:

1. Initial Disclosure
2. Availability of Funds
3. Next Day and Two-Day Availability
4. Exception Holds/Delayed Availability
5. Requirements for Delayed Availability
6. Collection of Checks
7. Check 21

Course Audience

This Regulation CC: Funds Availability Act - In Depth online training course was designed for deposit operations and compliance personnel. 

If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.