Description
This course covers what Reg CC is and how it affects your customers and your institution. The course also covers basic disclosure requirements and how and when you can place a hold. The course also includes Check 21 and remotely created checks.
What You’ll Learn
By the end of Elements of a Compliance Program for Compliance Professionals, you will be able to:
- Define Explain the types of accounts covered under Reg CC and the verbiage that must be included in a hold notice
- Identify items that are subject to next-day availability and exceptions to next-day availability
- Describe the guidelines for using case-by-case holds and exception holds
- Describe Reg CC requirements relating to check processing
- Identify additional requirements under Reg CC, including disclosure requirements, employee training, and record retention
