This is my first post; I apologize if it has been previously addressed but I am unable to access the Search function due to IT difficulties.

We are going to change the Special Rules for New Accounts section of our Funds Availability Disclosure to read "funds from other check deposits will generally be made available on the 7th business day for local checks and 11th business day for non-local checks after the day of your deposit" to reflect our current practice. The disclosure currently states the 2nd and 5th day.

How does the 30 day notification rule apply in this case? Should we state accounts opened after a sepcified date and consider the accounts opened prior to that date grandfathered or just change the disclosure and send a notice to new account holders from the 30 days prior to the effective date.

I keep going in circles with this.

Any advice would be appreciated.

Let me begin by saying I don't know off the top of my head if Reg CC has any special change-in-terms rules when all you're doing is changing your practice for the new accounts exeption holds that allow you to avoid notifying all of your deposit customers. You should research that question.

However, I would set a date at least 30 days prior to the effective date of your change and send the change in terms to your existing customers. Start providing the new policy to new customers the same day you begin notifying existing customers.

I would treat any account opened prior to date you started providing the disclosures to new customers as if they were under your old practices.

In effect, you'll have two practices in place until all of the old/new customers are out of the pipeline and all you have left is new/new customers.

Back up two steps and analyze what you'll be doing. Start by saying you'll implement the policy 30 days from Date X. On Date X, include the information in your new account disclosures. You won't need to notify any existing customers because the new policy will never affect them (by the time you implement the policy all current customers will have aged out of NEW status).