The following articles are featured in the Security Section: Maybe there is more on the horizon. NOTES: EXPEDITED FUNDS AVAILABILITY: REG CC QUICK REFERENCE GUIDE (EFFECTIVE JULY 1, 2020 ) Remember that you must always give the customer a notice of delayed availability at the time of transaction or within one business day of identifying the circumstances warranting the customer hold except for new accounts, repeat All of that will require lead-time and change-management to meet a July 1, 2020, compliance deadline. Can anyone tell me what should be included in the Reg CC change notice required to be sent to customers due to the changes effective July 1, 2020? Do safe deposit vault burglaries ever happen? Regulation CC implements the Expedited Funds Availability Act of 1987 (EFA Act). These changes will take effect on July 1, 2020. Regulation CC Changes Effective 7-1-20 Just a friendly reminder that on July 1, 2020, Regulation CC deposit delays will undergo some changes. Future Reg CC inflation changes. Regulation CC requires institutions to send change notices to holders of consumer accounts. Oh my! RESPA Section 8 and bank regulators Who gets the SCRA Notice and when? Community. Stay tuned to our Banking on BCC Magazine as we will plan to cover these IRAs and Spouse Beneficiaries? New administration, new OFAC Sanctions? Regulation CC requires institutions to send change notices regardless of whether the change is favorable or unfavorable to the consumer. However, because these changes actually expedite the availability of funds (i.e., they make more money available to the consumer sooner) the change notices do not need to be given out prior to the effective date of the change. Answer: If your bank has adopted an availability policy more favorable than that required under Regulation CC, it may delay availability but only up to the maximum timeframe allowed by Regulation CC. This special one-hour update program will cover these topics: The minor Reg CC changes that will be effective in late Summer, 2019 Non-substantive changes to Regulation DD (Truth in Savings) The Reg CC dollar amounts that will be changed Now is the time to get started implementing the new Reg C It has been nine years since the Dodd-Frank Act required the first set of adjustments to the hold amounts in Regulation CC. As we said, this Final Rule wasn’t everything we were hoping for because the regulation still contains some outdated information. Document Library A searchable, sortable archive of the documents uploaded to CBANC. The final rule released the following changes, which will go into effect on July 1, 2020: 229.10 (c) Minimum amount of deposited funds currently set at $200 will move to $225; 229.12 (d) Permissive Adjustment to funds availability will change from $400 to $450. Revoke an IRA? Specifically, the current $200 that must be made available when placing a case-by-case delay will increase to $225; the “large deposit” exception reason will increase from $5,000 to $5,525, among others. In addition to the summary, this article provides a 10-step implementation plan for complying with the recent changes. Is a Roth IRA a good deal? Question: Are case-by-case holds included in the July 1, 2020, Reg CC changes? In this article, we provide a summary of the Reg CC changes that financial institutions must comply with by July 1, 2020.

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