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#2238332 - 06/18/20 08:12 PM Reg CC Policy - July 1 changes
J_G Offline
Gold Star
Joined: Dec 2010
Posts: 261
Can someone point me in the direction of where I may find a sample policy for the new Reg CC changes that go into effect on July 1? Or be kind enough to share yours? Thank you.

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Deposits and Payments
#2238370 - 06/19/20 04:31 PM Re: Reg CC Policy - July 1 changes J_G
P*Q Offline

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P*Q
Joined: May 2001
Posts: 8,458
Somewhere
Why not just update your current one with the new dollar amount you will be using?

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#2238378 - 06/19/20 05:19 PM Re: Reg CC Policy - July 1 changes J_G
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,700
The Country
I'm with PQ on this, just update the dollar amounts and call it a day.
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A successful man is one who can lay a firm foundation with the bricks others have thrown at him.
-David Brinkley

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#2238388 - 06/19/20 06:40 PM Re: Reg CC Policy - July 1 changes J_G
J_G Offline
Gold Star
Joined: Dec 2010
Posts: 261
That's it? Just update $200 to $225 and $5,000 to $5,525?

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#2238389 - 06/19/20 06:45 PM Re: Reg CC Policy - July 1 changes J_G
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,396
Galveston, TX
That covers it.
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#2238394 - 06/19/20 07:06 PM Re: Reg CC Policy - July 1 changes J_G
J_G Offline
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Joined: Dec 2010
Posts: 261
Thanks everyone. smile

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#2238595 - 06/24/20 05:48 PM Re: Reg CC Policy - July 1 changes J_G
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
That's all that's needed for the disclosure and the lobby posters/notices re Reg CC. The other piece of your compliance burden is the notice to current transaction account customers, which can be as simple as a statement message/enclosure, but it must be sent within 30 days after you implement the change.

If you are "flipping the switch" on this change on July 1 (it can be done sooner), you have to send/include/enclose the notice by July 31.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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