Reg CC is for transaction accounts - both consumer and business. If a business has a large deposit exception hold placed for the wrong amount (held 7 days for full amount when it should have held the excess over $5,000 until the 7th business day) Is this error a Reg CC violation? Some say it is a business account so it doesn't count as a violation for Reg CC.
Can you tell me the required signage for an ATM?
Does the Dodd Frank Act or compliance require banks to process loan payments that are dropped off in the night drop after the night drop has been closed for the day but the branch drive through is still open?
The bank that I am currently working for states in their policy that if a customer wants to deposits an official check with a special deposit ticket the bank must verify the check with the issuing bank before they can use the special deposit ticket. Is this allowed as part of a policy? I have never heard of anyone doing this. There is nothing in Rec CC about verifying the check.
How can I simply define case by case holds and Reg CC holds?
Our Funds Availability Policy states that a deposit at an automated teller machine that is owned and operated by the bank before 2:00 PM on a business day that we are open, we will consider the deposit made on that day. Do we need to post a sign on the ATM that state that.
What is the time frame allowable to input a Large Dollar Notification on items over $2500.00. When does the time start?
If a REG CC hold is placed and released the same day, does a notice still need to go out to the customer?
Does Reg CC (Notification of a large return) apply to the US Treasury? We returned an item and submitted a notification and were told they could not forward to the Treasury and that they thought the Treasury was exempt from Reg CC.
I was told that it was no longer required to send notification of Large Return Item to the bank of first deposit, when returning items 2,500 and over.