Reg CC New Account Hold

Posted By: NoJustNo

Reg CC New Account Hold - 03/27/18 03:49 PM

Can someone explain why the BOL Chart references "On Us < $5k" and "Regular Checks < $5k" for new account holds? Wouldn't that apply to any amount?
Posted By: Compliance NABW

Re: Reg CC New Account Hold - 03/28/18 04:16 PM

Yes, it would apply to any amount for new account holds for these types of checks. I think it is just due to the way the Chart is set-up. In other words, it is because the Chart allows for the distinction for Large Deposit holds (>$5K) later down in the table.
Posted By: NoJustNo

Re: Reg CC New Account Hold - 04/02/18 02:50 PM

Thanks, JPC! I was worried I was missing something!