Latest Compliance - Reg. CC Topics

State University Check: Government Check/Reg CC?

10/11/2020

I would like to know if a check issued by a state university in the same state of our bank is considered a government check for Reg CC purposes?

New Reg CC Update - Large Check Deposit

08/02/2020

I have a question on the new Reg CC update, specifically, on the large check deposit. I have a customer depositing a out of town check made to himself in the amount of $106,000. How do I handle this? Example: 2-12-2020: Place a Large Deposit Exception hold on the check making $200 available 2-13-2020, $4,800 available 2-14-2020 & $101,000 available 2-24-2020. So would the new amounts be $225 available 2-13-2020 and $5,300 (to make a total available $5,525) available 2-24-2020 and the rest available 2-24-2020?

Notice to Customers Regarding Change to Reg CC

05/03/2020

What is required in our notice to customers regarding the change to Reg CC?

Reg CC Holds-Cashier's Check/Large Deposit

04/26/2020

I need a clear & simple chart to help me understand Reg CC holds. I understand rules are changing in July, but I need something to help me today. Specifically, I have a customer depositing a cashier's check from himself at another bank payable to himself here in the amount of $106,000. How do I handle this? Example: 2-12-2020: Place a Large Deposit Exception hold on the check making $200 available 2-13-2020, $4,800 available 2-14-2020 & $101,000 available 2-24-2020 or because it's a cashier's check do I make the entire amount available on the next business day?

Does Reg CC Apply to A2A or Mobile Deposits?

04/19/2020

I have a few questions regarding Reg CC: 1. For accounts less than a year old, and a check is over $500, we place it on a 2-day hold, is that allowable under the Reg? 2. For accounts open more than a year and checks more than $3k but less than $5k, we place it on a 2 day hold, is that allowable under the Reg? 3. Does Reg CC apply to A2A deposits or mobile deposits?

Place Hold On Any Check That Is Not Next Day?

04/19/2020

Can a bank place a hold on any check that is not next day item if there is not recourse in that customer's account at the time they present check to the teller for deposit?

Placing a hold on a cashier’s check

03/29/2020

Can we hold a cashier’s check in a checking account?

July 1, 2020 New Hold Numbers Take Effect

03/22/2020

When do we have to make the changes to amounts for Regulation CC?

Customers get increased availability

03/15/2020

What are the new numbers for Regulation CC Holds?

To hold or not to hold a check?

03/08/2020

Our customer, Joe, is depositing an insurance check for $8600 into a checking account. Should we hold it if his average balance is $100? He has been a customer for 30 years and never been overdrawn.