Expedited Funds Availability Act (Reg CC) for Compliance Professionals
Course Number: ABA
Course Code: ABA
Covers the basic provisions of Regulation CC, which implements the Expedited Funds Availability Act focusing on the provisions of the regulation that affect customer-contact functions. Provides an overview of the check processing system, Check 21, and remotely created checks is also included.
What You’ll Learn
After completing this course, students will be able to:
- 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
Audience: Compliance and risk management professionals including compliance managers, officers, and other team members whose primary role is within the compliance function at their financial institution; bank examiners, bank regulators, and auditors.