Regulation CC: Checks and Holds

Regulation CC governs the availability of funds for transaction accounts and the holds which financial institutions can place on checks. This regulation was passed in 1988 and continues to be one of the toughest compliance problems in financial institutions around the country. Questions like can we place a hold on a cashier’s check? How many days can we hold checks on a new account? Does this apply to business accounts? Do we have to give the hold while the customer is there or can we mail it later? These questions will all be addressed in this informative and easy to follow program for the front line. You will need a copy of your hold form and Regulation CC disclosure to follow this front line program.

Covered Topics

  • Covers changes on collection going into effect on July 1st
  • Purpose of the regulation
  • What is a transaction account?
  • Availability Schedules
  • Business versus banking days, Transaction Accounts and more definitions
  • How to count days and place holds
  • Next day items versus other checks
  • Case by Case holds
  • Exception Holds
  • Hold Notices and how to complete
  • New Accounts exception
  • Common errors on holds

Who Should Attend?

This webinar will benefit all tellers, teller managers, cashiers, member service representatives, operations staff, branch managers and compliance officers.
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