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#1569001 - 06/23/11 06:46 PM Reg CC Changes
Local banker Offline
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Joined: Feb 2008
Posts: 129
Is the only change on Reg CC that's effective July 21st the $100 rule going to $200? I remember reading something about the exception hold period changing from 7 to 4. Was that just a proposal that's coming down the road?

why can't we just overhaul the entire reg at once instead of one bit at a time?

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#1569018 - 06/23/11 06:57 PM Re: Reg CC Changes Local banker
Doug Hendrickson Offline
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Doug Hendrickson
Joined: Oct 2009
Posts: 3,927
Yes, only the $100 rule going to $200 is effective 7/21/2011...more changes to come at some point.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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#1570497 - 06/27/11 06:46 PM Re: Reg CC Changes Doug Hendrickson
fholloway Offline
New Poster
Joined: Jan 2010
Posts: 9
Ohio
Does anyone have a sample statement notice for the change to $200.00?

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#1570582 - 06/27/11 08:03 PM Re: Reg CC Changes fholloway
sway Offline
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Joined: Feb 2011
Posts: 127
"Funds Availability Changes effective (Date). The first $200 of your deposit will be made available in accordance with our funds availability policy."

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#1570583 - 06/27/11 08:04 PM Re: Reg CC Changes sway
sway Offline
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Joined: Feb 2011
Posts: 127
Effective xx/xx/xx: Depending on the type of check that you deposit, funds may not be available until the fifth business day after the day of your deposit. The first $200 of your deposits, however, may be available on the first business day.

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#1570725 - 06/27/11 10:23 PM Re: Reg CC Changes sway
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,965
Galveston, TX
I like your second one a lot better as the first one doesn't really say anything. You already and have always made the first $200 available according to your availability schedule smile
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#1570839 - 06/28/11 07:04 PM Re: Reg CC Changes rlcarey
RR Joker Offline
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RR Joker
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The Swamp
5th day?
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#1581168 - 07/21/11 05:46 PM Re: Reg CC Changes Local banker
msharp Offline
New Poster
Joined: May 2011
Posts: 4
Please confirm the following: According to Dodd-Franks Rule, is the following information correct?

Check Existing Customer - >5000 Local
Should be the following:
$200 Reg CC First
$4,800 2 Day
Remaining Amount 7 Day

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#1581326 - 07/21/11 08:09 PM Re: Reg CC Changes msharp
Key Lime Pie Offline
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Joined: Jun 2002
Posts: 108
Louisville, KY
I believe that is correct Marilyn.

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#1581443 - 07/21/11 09:51 PM Re: Reg CC Changes Key Lime Pie
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,598
Cape Cod
Yup
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#1586502 - 08/02/11 07:08 PM Re: Reg CC Changes John Burnett
Kari Offline
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Kari
Joined: Sep 2002
Posts: 131
PA
I recently rec'd a notice from another bank saying they will make the $100 of a check deposited into a commercial account or $200 of a check deposited into a consumer account. I can't find any reference to show there are different amounts for deposits to consumer and commerical accounts. Please clarify, thank you.

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#1586517 - 08/02/11 07:21 PM Re: Reg CC Changes Kari
Bob The Banker Offline
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Bob The Banker
Joined: May 2010
Posts: 958
Originally Posted By: Kari
I recently rec'd a notice from another bank saying they will make the $100 of a check deposited into a commercial account or $200 of a check deposited into a consumer account. I can't find any reference to show there are different amounts for deposits to consumer and commerical accounts. Please clarify, thank you.

As far as I am aware, that Bank is incompliant with their practice. Although the notice requirement of the change only applied to consumers, the change to $200 available applies to transaction accounts alike -- consumer OR business.

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#1586533 - 08/02/11 07:42 PM Re: Reg CC Changes Bob The Banker
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Posts: 20,654
The Swamp
^^^what he said.
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My opinion only. Not legal advice.

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#1586537 - 08/02/11 07:41 PM Re: Reg CC Changes RR Joker
Kari Offline
100 Club
Kari
Joined: Sep 2002
Posts: 131
PA
Thank you, that is what I thought. I really appreciate the assistance. Have a wonderful day!

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#1587105 - 08/03/11 06:46 PM Re: Reg CC Changes Kari
cheech Offline
100 Club
Joined: Jun 2010
Posts: 207
Chatsworh PA
We did a similar statement message and we received a ton of calls from people wanting to know why $200 of their Social Security was being held. Where they made that connection I am not sure, any other banks get those calls?

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#1587193 - 08/03/11 08:10 PM Re: Reg CC Changes cheech
dcl1963 Offline
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Joined: Feb 2006
Posts: 177
LA
No calls that I'm aware of; guess we're one of the many trying to get their SS. wink
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#1587247 - 08/03/11 09:03 PM Re: Reg CC Changes dcl1963
Doug Hendrickson Offline
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Doug Hendrickson
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Luckily we had only a few calls.
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I hear and I forget. I see and I remember. I do and I understand.--Confucius

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