Posted By: lizh
REGULATION CC & NONCONSUMER ACCOUNTS - 03/13/01 05:19 AM
Is anybody willing to share how they apply Regulation CC to nonconsumer (business accounts)? We are a former thrift - now a community savings bank - just entering into business/commercial deposit relationships, and at present our application of Reg CC is the same for consumer and nonconsumer accounts. However, our business relationship manager advises that most commercial depositors will find the 'extended hold' provisions - especially the 'Large Deposit' float extensions - to be onerous and 'out of sync' with the rest of the banking industry.
I'm looking for some 'practical' guidance...