I would like to know more about Expedited Funds Availability Act.
What type of holds can be placed on official-type items such as cashier's or government-type checks? What rules accompany these holds?
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?
Our institution has a normal availability policy. However, in our "New Account Procedures" we say that we will delay availability for local and nonlocal checks in regard to new account openings. Is this in violation of our normal availability, and should we disclose this to all customers in our Funds Availability Policy?