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#1701354 - 05/18/12 08:03 PM Hold deposit on a business account
avpbanker64 Offline
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Joined: Apr 2012
Posts: 56
Kentucky
Is it allowed under Reg CC/Expedited Funds Availability to place a large exception hold on a business/LLC account? I took it under Reg CC section 229.13 (g) (2) that for nonconsumer accounts you may? Can someone answer this please?
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#1701357 - 05/18/12 08:05 PM Re: Hold deposit on a business account avpbanker64
rlcarey Online
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rlcarey
Joined: Jul 2001
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Galveston, TX
Outside of some provisions for calculated availability, there is no distinction between consumer and business customers in Regulation CC
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#1701358 - 05/18/12 08:06 PM Re: Hold deposit on a business account avpbanker64
RR Joker Offline
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The Swamp
You can generally place a large exception hold on any transaction account.
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#1701361 - 05/18/12 08:07 PM Re: Hold deposit on a business account avpbanker64
John Burnett Offline
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John Burnett
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Cape Cod
Regulation CC applies to all transaction account deposits other than those to accounts owned by other banks. Paragraph 229.13(g)(2) only alludes to the special notice exceptions available for a nonconsumer account.
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#1701363 - 05/18/12 08:10 PM Re: Hold deposit on a business account avpbanker64
avpbanker64 Offline
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Joined: Apr 2012
Posts: 56
Kentucky
Wow, thanks for the fast responses. Looks like it is alright to have a teller place a hold on a nonconsumer account then. Thanks again.
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#1701369 - 05/18/12 08:12 PM Re: Hold deposit on a business account avpbanker64
John Burnett Offline
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John Burnett
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Cape Cod
It is, assuming that your initial account disclosures for the account alluded to the possibility of such holds.
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