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. An overview of the check processing system, Check 21, and remotely created checks is also included:
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
