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#1312663 - 12/23/09 07:32 PM Stupid Reg CC Question
Dani York, CRCM Offline
Power Poster
Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
TN
OK, at this point my brain is fixated on sugar plums and I can't for the life of me figure anything out right now....

I am in the middle of updating our compliance policies, specifically Reg CC at the moment, and am trying to figue out the longest hold we can put on under a new account exception. After the consolidation is completed, would it be 9 or 11 days? (Our current policy lists 10...I inherited it....)

Thanks so much for any help!
_________________________
I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.

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Operations Compliance
#1312698 - 12/23/09 07:58 PM Re: Stupid Reg CC Question Dani York, CRCM
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
Other than next-day items, Reg CC doesn't set a limit on the number of days you can hold other local and non-local checks deposited to new accounts. That is set by bank policy and is not affected by the consolidation of check processing centers. For next-day items, you can hold the amount exceeding $5,000 for 9 days.
Last edited by Kelsey D; 12/23/09 08:01 PM.
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#1312730 - 12/23/09 08:15 PM Re: Stupid Reg CC Question Kelsey D
Dani York, CRCM Offline
Power Poster
Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
TN
Thanks! Merry Christmas!
_________________________
I can't herd the cats anymore, so I just set up the electric fences and let them fry when they stray out of bounds.

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#1312736 - 12/23/09 08:20 PM Re: Stupid Reg CC Question Dani York, CRCM
Kelsey D Offline
Platinum Poster
Joined: Aug 2006
Posts: 516
Ohio
You too! And don't feel bad about being fixated on sugar plums. For the most part, I'm here physically, but mentally I'm going through the 50 things I need to do before Christmas!
_________________________
Don't make me say, "I told you so!" Sincerely, your friendly Compliance Officer.

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