Expedited Funds Availability (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.
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.