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Making Reg CC holds easier

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Can a bank that generally makes check deposits available the day after the deposit decide not to make case-by-case holds but employ exception holds when needed?

Certainly. Such a bank would use an adaptation of Model Form C-2 for its disclosure of its Funds Availability Policy when accounts are opened (change $5,000 to $5,525 and replace “(number)” with “7th.” For the teller queue or lobby notice, use an adaptation of Model Form C-18, inserting “first” in place of both instances of “(number)” and change “fifth” to “seventh.”

First published on 08/29/2021

Filed under compliance as: 

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