Video Webinar: Regulation CC June 2019 Amendments
On June 24, 2019, the joint agencies announced a 63-page final rule amending some requirements of Regulation CC relating to check holds and funds availability. This long-awaited rule was mandated by the Dodd-Frank Act, but is only a portion of the total changes we expect to Regulation CC. These changes do four main things:
Require a regular inflation increase for certain thresholds found in Regulation CC (such as the $200/$5,000 amounts used in holds).
Require customer notification
Expand Reg CC coverage to certain US Territories
Make a few (minor) changes to Regulation DD
Upon first glance, this rule may appear to have a very minor impact to Regulation CC - which is a fairly accurate observation. The challenge, however, is that these changes will have a significant impact on financial institutions as they only complicate a rule that is already difficult to understand and comply with. In other words, these amendments are going to cause some major challenges for training front line staff. Therefore, it is important for financial institutions to have a complete understanding of these new rules so that applicable staff can be appropriately trained and hold activity can be appropriately monitored.
This program would be beneficial for compliance officers, trainers, branch managers, operations managers, auditors, and those responsible for managing deposit holds. Note: This program is the exact version from Part II of our 2Q 2019 Quarterly Compliance Update, meaning those that purchased that product already have this material. This program is designed for those who specialize in holds/Reg CC and may not want the full Quarterly Compliance Update program.
Price: $199 early bird special through Thursday, August 1, 2019. (Regular Price: $249)
NOTE: For just a few dollars more ($229), you can get this program as part of our 2Q 2019 Quarterly Compliance Update - which includes not only the Reg CC Amendments, but every other applicable regulatory change that took place during the 2nd quarter of 2019. Click here to view our 2Q 2019 Quarterly Compliance Update.