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OnDemand Course

Regulation CC: Availability of Funds and Collection of Checks

Get up to speed on Regulation CC, the EFA Act and the Check 21 Act.

This topic will cover how Regulation CC (12 CFR part 229) implements the EFA Act and the Check Clearing for the 21st Century Act (Check 21 Act). Subpart B of Regulation CC implements the requirements set forth in the EFA Act regarding the availability schedules within which bank? must make funds available for withdrawal, exceptions to those schedules, disclosure of funds availability policies, and payment of interest. This material will discuss the EFA Act and subpart B of Regulation CC which contains specified dollar amounts, including, the minimum amount of deposited funds that banks must make available for withdrawal by opening of business on the next day for certain check deposits (minimum amount); the amount a bank must make available when using the EFA Act's permissive adjustment to the funds-availability rules for withdrawals by cash or other means (cash withdrawal amount); the amount of funds deposited by certain checks in a new account that are subject to next-day availability (new-account amount); the threshold for using an exception to the funds-availability schedules if the aggregate amount of checks on any one banking day exceed the threshold amount (large-deposit threshold); the threshold for determining whether an account has been repeatedly overdrawn (repeatedly overdrawn threshold)[ and the civil liability amounts for failing to comply with the EFA Act's requirements.

89 minutes
Course Exam
Certificate of Completion
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Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Regulation CC Background

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) Made Certain Amendments to the EFA Act

Check-Return Rules and Same-Day Settlement Rules Outlined and Implemented Under Regulation CC

Best Practices

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, New Hampshire, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on January 29, 2020.

Call 1-866-352-9540 for further credit information.

  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 35 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Mark D. Belongia

Mark D. Belongia

Hinshaw & Culbertson LLP

  • Partner in the Chicago office of Johnson & Bell, Ltd.
  • Practice emphasizes all aspects of financial regulatory areas, such as consumer lending and banking
  • Conducts regular seminars and workshops on lending and debt collection
  • Author of several publications related to the areas of properly lending to all types of consumers and proper methods of collection this debt
  • Member of the Chicago, Illinois and American Bar Associations
  • J.D. degree, DePaul University College of Law; B.S.B.A. degree in accounting, Drake University
  • Can be contacted at 312-984-0271 or [email protected]
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Product ID: 397865
Published 2020
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