Where can I find the new model availability policy disclosures (appendix C) for Reg. CC?
With the new $200 rule for Reg CC, since our Bank has a next-day availability policy, our general policy is not affected. But on the case-by-case holds, if I understand it correctly, we will now have to make the first $200 available on the next business day. If I am right up to this point, do we need to send out a change-of-terms notice to our customers about the change for the case-by-case holds only?
Is Reg D doing away with restrictions on Money Market accounts? (The 6 transaction limit is being lifted)
Can we place a hold on an account two days after the initial deposit has been made due to information received after the fact?
What are some specific reasons for a Reg CC hold? Could the number of NSF fees on an account be a reason?
When is the compliance date for the Reg CC change from $100.00 to $200.00?
Has the $100 availability amount regarding Reg CC changed to $200 or is it still $100? Is this maybe a change that was included in all the Frank-Dodd Reform Act stuff? If the $100 availability amount did change to $200, when was the change effective? Was it an immediate change?
Could you direct me where to find in the Dodd-Frank Reform Act where the change to EFA from $100.00 to $200.00 will be happening. I know I read it and now cannot find where I read it. I checked EFA Reg but it has not been updated, but we have updated our disclosures and signage to reflect the $200.00.
Do you have a Reg CC Hold Schedule for 2011, as you have for past years?
If your hold is for 5 days and the fifth day is the 25th, should the hold auto release at midnight of the 24th? Or do we have until 9am on the 25th to release those funds?